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Ecommerce Daily News Sep-22 2021

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Ecommerce Daily News Sep-22 2021

Amazon issues notice on the return policy for the 2021 holiday sales season.

Amazon US announced that most of the products purchased between October 1, 2021, and December 31, 2021, are eligible to be returned before January 31, 2022. Amazon will extend the return time while the return eligibility of the order remains unchanged. You can view the return eligibility of each category on the "Return Help Page."

Port congestion, the average waiting time for berthing in West America, is as high as 8.5 days.

According to the latest data from the container transportation platform Seaexplorer, as ports on all continents face operational interruptions, as of September 13, more than 349 large-scale carriers have berthed outside the port. In the first half of this year, the container throughput of major ports in the United States, Northern Europe, and Asia increased by 10% to 70% year-on-year.

In Asia, the throughput of the Port in Singapore rose by 27%, followed by Yantian, Shanghai, and Ningbo. However, the Port of Long Beach in Southern California had the largest increase among the ports. At present, 22 container ships are waiting for a berth at the anchorage in Southern California, 16 ships are waiting outside the port, and 38 ships are waiting. The average waiting time for berth has increased from 8.1 days a week ago to 8.5 days. The time can be up to 16 days.

Amazon vine plan will charge fees.

Starting from October 12, Amazon will charge a fee for each registered product 7 days after the first Vine review of the product is published, and the fee will not be refunded. If the product does not receive any reviews, or the first Vine review is posted 90 days after the product is provided to Vine Voices, the platform will not charge a fee. This fee only applies to products that join the Vine program after October 12, 2021, and those that join before will not be affected.

Amazon will introduce three mandatory ASIN attributes.

Amazon EU and Amazon US announced that starting from October 26, 2021, Amazon will introduce three mandatory ASIN attributes, including net content, product form, and product quantity. The new attributes will apply to a variety of categories. Suppose sellers fail to fill in these mandatory attributes. In that case, they will not be able to create any new listings in related categories after October 21, 2021 (Listings listed before October 21, 2021, will not be deleted).

Amazon cooperates with the British Post Office to provide Click & Collect service.

Amazon announced a partnership with the British Post Office to provide Click & Collect services for the local area. This service means that the customer can show the QR code of the package to the postal staff to scan and then scan it and pick it up. The British Post Office has about 11,500 branch points. The two parties have tried to push 200 branch points before. They plan to expand the service to 1,500 branch points before Christmas.

Ecommerce Tech News

eCommerce News Southeast Asia

Malaysian car-sharing platform Socar Malaysia completed US$55 million in Series B financing.

According to Tech in Asia, the investment institutions in this financing round are EastBridge Partners and Sime Darby Berhad. Socar Malaysia is a car-sharing app. Users can rent cars by the hour, day, week, or month. The funds raised in this round will be used for market expansion.

Singaporean alternative protein company Growthwell Food completed a US$22 million Series A financing.

According to DealStreetAsia, this funding round was led by Creadev from France, with participation from institutions such as GGV Jiyuan Capital, The Iris Fund, and Temasek. Growthwell will use the funds raised this time to accelerate business expansion and product development.

eCommerce News India

Indian online education giant Byju's acquired Tynker for a final transaction price of approximately US$200 million.

According to TechCrunch, Byju's spent US$200 million to acquire Tynker, an American children's programming education platform, an increase of US$100 million compared to the previously disclosed acquisition. After completing this round of transactions, Tynker will also become the third American start-up acquired by Byju's after Osmo and Epic's online reading platform.

Indian payment company Pine Labs received US$100 million in investment.

According to TechCrunch, the investment institution for this round of financing is the Invesco Developing Markets Fund. Pine Labs provides merchants with payment terminals, invoice tools, and working capital. It has just completed the financing of US$600 million not long ago, with a valuation of US$3 billion.

eCommerce News Europe and North America

Vivendi or the acquisition of Lagardère, or will become one of the largest media companies in Europe.

According to Sina Finance, French media giant Vivendi said that if regulators approve its plan to buy out Amber Capital's shares in Lagardère, it will initiate a purchase from Lagardère. If the acquisition is successful, it will become one of the largest media companies in Europe. The day before, Vivendi agreed to acquire 25.3 million shares of Lagardère held by Amber Capital at 24.10 euros per share. Lagardère's media assets include "Paris Contest" magazine and Europe's Radio One.

American live shopping platform Whatnot completed a $150 million Series C financing, making it one of the unicorns.

According to TechCrunch, this financing round is the third round for Whatnot in 2021, making it valued at $1.5 billion. Investment institutions in this funding round include Andreessen Horowitz (a16z), Y Combinator, CapitalG, and several angel investors.

eCommerce News Australia and New Zealand

New Zealand medical technology company HeartLab completed the financing of NZD 3.5 million (approximately US$2.48 million).

According to Scoop reports, HeartLab, a start-up company focused on heart health, announced today that it has received NZ$3.5 million in financing. The investors in this funding round include Founders Fund, Icehouse Ventures, and Outset Ventures, and other institutions. The company's artificial intelligence heart scanning software uses ultrasound technology to detect and assess the patient's heart health. This software is currently undergoing clinical trials in New Zealand.

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