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eCommerce logistics news. There is a backlog of about 200,000 containers in Los Angeles. 25% of the cargo stays at the dock for over 13 days.
Gene Seroka, executive director of the Port of Los Angeles, said that about 200,000 containers with cargo are backlogged off the coast of Los Angeles as the epidemic continues by October 18th. Ceroca said that 25% of the cargo stayed at the dock for more than 13 days. Previously, the number of goods was more, almost twice the current amount. Congestion continues to worsen.
According to the latest data on October 18th, there are currently 34 container ships waiting for berths at the Los Angeles anchorage alone and 10 waiting outside the port. The average waiting time for berth has soared to 12.5 days.
eCommerce industry news. During Black Friday, 68% of Gen Z consumers will use non-traditional channels to shop.
According to the latest survey by retail operation system provider Brightpearl, two-thirds of Gen Z respondents have used non-traditional (retailers and popular shopping websites excluded) shopping methods in the past year. 68% of them plan to shop through non-traditional shopping channels during the Black Friday and holiday seasons. Among them, Instagram (47%) is the most popular choice.
Other non-traditional shopping channels that Gen Z consumers plan to use during this holiday season include Facebook (40%), Amazon Alexa (35%), Pinterest (32%), TikTok (29%), and streaming shopping (25%). In addition, 45% of millennial respondents plan to use similar non-traditional shopping channels during the Black Friday period.
eCommerce business news. Wise achieved 132.8 million pounds revenue in Q2, and total transaction volume increased by 36% year-on-year.
On October 20th, British payment company Wise unveiled its second-quarter fiscal report. According to the report, the company's operating income in the second quarter was 132.8 million pounds, increasing 25% year-on-year and 8% month-on-month. The total transactions were increased by 36% year-on-year to 18 billion pounds.
The company revealed that nearly 4 million customers conducted transactions this quarter. Retail transfer demand accounted for an essential proportion of revenue growth. Wise predicts that revenue growth for the entire fiscal year will be around 20%.
eCommerce news USA. Wing, a subsidiary of Google's parent company, launches a new drone delivery model in Texas, USA.
On October 21st, Reuters reported that Wing, a subsidiary of Google's parent company Alphabet, said on Wednesday that Walgreens would use its new drone to deliver goods in Texas. Wing said it would start the project in the parking lot of the Walgreens store in the Dallas-Fort Worth area to provide delivery services to parts of Frisco and Little Elm. Walgreens employees will process the order and load the package into the delivery drone.
eCommerce logistics news. GeoPost acquires over 20% stake in Middle East logistics giant Aramex.
On October 21st, according to Reuters, GeoPost, the subsidiary of the French Post Group, has acquired a 20.15% stake in the Middle East logistics giant Aramex. According to a document from the Dubai Financial Market, GeoPost acquired approximately 295 million shares of Aramex for a transaction value of 1.4 billion UAE dirhams. After the news was announced, Aramex's share price now has its largest intraday gain since January 2009.
eCommerce business news. PayPal in a $45 billion bid for Pinterest.
On October 21st, according to Bloomberg News, PayPal is preparing to acquire the social media company Pinterest, and the negotiations have reached the final stage. PayPal acquired Pinterest at a price of approximately US$70 per share. Suppose a deal is concluded at this quotation. In that case, the overall valuation of Pinterest's publicly traded Class A shares is around US$39 billion, including the undisclosed Class B shares. The total value of the company is 45 billion US dollars.
Affected by this news, PayPal shares rose more than 12% at the close on Wednesday, and Pinterest fell nearly 5%. After the acquisition of Pinterest, PayPal may enter the social e-commerce market.
eCommerce news India. CityMall, an Indian social e-commerce platform, negotiates to raise approximately US$70 million in new funds.
On October 20th, according to entrackr, the Indian social e-commerce platform "CityMall" is negotiating to raise $70 million in a new round of financing from new and old supporters. Since the beginning of this year, the startup has completed two rounds of financing, which are the US$11 million in Series A financing in March and the US$22.5 million in Series B financing in June.
An anonymous source said that CityMall's new valuation would be between 300 million and 350 million US dollars. In addition to equity, the company will also raise a large amount of debt capital.
eCommerce news Europe. Spotify plans to hire hundreds of employees to expand advertising sales in Europe and other places.
On October 20th, Spotify plans to hire hundreds of employees and is committed to boosting advertising sales in Europe and other regions, increasing revenue from customer groups. Spotify's revenue mainly comes from two sources: paid subscriptions and advertising. Despite a large number of customers, most customers do not pay monthly fees. Especially since the COVID-19 pandemic, Spotify's advertising business has been hit and only started to resume growth this year.
eCommerce tech news. ConveGenius, an online education platform in India, completed a seed round of financing of US$5 million.
According to YourStory, investors in this round of funding include institutions such as BAce Capital, Heritage Capital, and 3Lines Venture Capital. The company will use the funds to develop ConveGenius AI, a conversational artificial intelligence platform in India and the global market. The platform hopes to cover hundreds of millions of children in low- and middle-income families in India.
eCommerce business news. Netflix's third-quarter net profit was US$1.449 billion, a year-on-year increase of 83%.
According to Phoenix Network Technology, streaming media video company Netflix released the third quarter of fiscal 2021 financial report as of September 30th. The financial report shows that Netflix's third-quarter revenue was US$7.483 billion, an increase of 16.3% from US$6.436 billion in the same period last year. Net profit was US$1.449 billion, an increase of 83.4% from US$790 million in the same period last year. Netflix's third-quarter diluted earnings per share and the number of new paid subscribers exceeded expectations, driving the company's stock price to rise by more than 1% in after-hours trading.
eCommerce retail news. Gorillas, a German grocery delivery platform, completed nearly $1 billion in Series C financing.
According to TechCrunch, Delivery Hero led this round of funding with Coatue Management, DST Global, and G Squared. Besides, Delivery Hero has invested $235 million in Gorillas, obtaining approximately 8% of Gorillas. The platform said that this round of funds would enhance all aspects of infrastructure construction to optimize the user experience.
eCommerce news brazil. Brazilian social e-commerce platform Favo completed a US$26.5 million Series A financing.
According to Contxto, this funding round was led by Tiger Global, Global Founders Capital, Elevar Equity, and FJ Labs. Users can have their online storefronts through this platform and sell supermarket products to neighbors, family, or friends. This model is equivalent to community group buying-an an e-commerce model based on micro-locations and transactions through social media.