KeyDelivery will collect eCommerce news from various sources every day. Save our website in your bookmark for timely updates.
1. Indian e-commerce platform Snapdeal files for IPO to raise US$165 million
On December 21st, Snapdeal, an Indian e-commerce startup supported by SoftBank, submitted preliminary documents for an initial public offering.
According to the informal draft prospectus submitted by Snapdeal to India's Securities and Exchange Commission, the company plans to raise 12.5 billion rupees through new shares.
In addition, existing shareholders, including SoftBank, plan to sell up to 30.77 million secondary shares.
Snapdeal was founded in 2010 and is headquartered in Delhi. It is India's largest online e-commerce platform. In the six months ended September 30th, the company achieved an operating income of approximately Rs 2.4 billion.
2. Indian industrial B2B platform OfBusiness receives US$325 million in Series G financing
On December 21st, according to ENTRACKR, India's industrial product and service procurement platform OfBusiness announced that it had raised US$325 million in a G round of financing. This funding was led by Alpha Wave Ventures II, Tiger Global, and SoftBank VisionFund2, with a post-financial valuation, increasing to nearly 5 billion US dollars.
The company's valuation in a financing round in April this year was only $800 million, which means its valuation has risen six times in a few months. The company said it would use a new round of funding to penetrate more deeply into the commercial supply chain.
3. French grocery delivery platform La Belle Vie receives US$28 million in Series B financing
On December 21st, according to TechCrunch, the French online grocery delivery platform La Belle Vie announced that the company had raised US$28.2 million in a B round of financing. This funding round was led by Left Lane and Quadrille Capital. Existing investors Capagro Participate in the investment.
La Belle Vie initially focused on fresh products, such as vegetables, fruits, meat, fish, and cheese, and then gradually expanded its product selection range. Currently, La Belle Vie offers 17,000 products, including 4,000 different fresh products. The company has 500 employees and processes 15,000 orders every week. The company can deliver orders to the Île-de-France region in less than 3 hours.
4. Korean grocery delivery startup Kurly raises US$210 million in pre-IPO round financing
On December 21st, according to Korea's Joongang Daily, the Seoul-based grocery delivery startup Kurly raised 250 billion won, or about 210 million US dollars, in a round of financing before its initial public offering, with a company valuation of more than 33 hundred million US dollars.
Kurly plans to file for IPO in June 2022. In late October, the company said it expects the value of the offering to be US$5.9 billion. Earlier this year, Kurly raised 225.4 billion won in the F round of financing after its low valuation forced it to reconsider its IPO plan in the United States.
5. Walmart Chile acquires Babytuto, an e-commerce company for baby products
On December 21st, Walmart Chile announced the acquisition of Babytuto, an e-commerce company for baby products and toys, to increase its digital market share in baby products.
Babytuto was founded in 2013 and currently offers 35,000 products from more than 400 local and international brands, including KidsCool, emuBaby, Cybex, Britax, UppaBaby, etc. The new acquisition plan will be completed in January 2022, when Walmart Chile's baby brands will double.
5. Saudi Arabian B2B e-commerce platform Sary receives US$75 million in financing
On December 20th, Saudi Arabian B2B e-commerce platform Sary raised 281 million riyals from public investment funds in a new financing round. The platform seeks new opportunities for expansion of the Gulf Cooperation Council.
Sary was founded in 2018 to change the wholesale procurement experience in the Middle East and North Africa. Since its establishment, Sary has covered more than 350,000 customers, provided services to more than 40,000 companies, and shipped more than 270,000 pallets of goods across Saudi Arabia. Starting from Saudi Arabia, Pakistan uses technology to connect micro and small enterprises with wholesalers for intelligent development.
6. Russian e-commerce company Yandex.Market plans to launch B2B platform in 2022
On December 20th, according to TASS news agency, Russian e-commerce giant Yandex.Market plans to launch a new B2B online platform in early 2022 to help companies quickly and easily purchase everything they need for their business.
The service plans to expand its product categories by introducing third-party sellers. Yandex.Market intends to provide about 100,000 items, including stationery, office furniture, preservatives, cosmetics, and building materials. The service will be shipped from the Sofyino warehouse in the Moscow region within two days of payment.
7. Apple began trial production of iPhone 13 in India
According to the Financial Associated Press, the Foxconn mobile phone assembly plant in Chennai, southeast India, has begun trial production of the iPhone 13.
The company expects to start formal mass production in February next year to meet India's domestic and export needs. The iPhone 13 series, the iPhone 13, is the most sold model in India, and Apple does not plan to produce the iPhone 13 Pro and iPhone 13 Pro Max in the country.
8. Zepto, an Indian grocery delivery startup, has raised US$100 million in financing
According to The Economic Times, this financing round was led by Y Combinator Continuity Fund, with Glade Brook Capital, Nexus Venture Partners, Global Founders Capital, and Contrary Capital.
Zepto is valued at US$570 million and plans to use the new funds to expand its business scope, develop different product categories, and strengthen its back-end technology.
Zepto was established in 2020. In April this year, it launched a grocery delivery service with delivery within 10 minutes.
More Tips for You
8 Tips For How to Improve Warehouse Efficiency
Ecommerce Packaging Tips for Product & Shipping Package
Ultimate Guide : Local & Cross-border eCommerce Logistics Service
