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Latin American social eCommerce company Favo raises US$26.5 million in Series A financing.
On October 22, Brazilian social e-commerce company Favo has raised US$26.5 million in Series A financing. Tiger Global, GFC, Elevar Equity, FJ Labs, H20 Capital, Kevin Efrusy, and David Velez led this funding round. Favo said the funds would be used to develop an application that receives grocery orders through local social networks.
Favo's social e-commerce model is a community group purchase, providing users with more than 3,000 kinds of groceries. The order will be fulfilled within 24 hours. Favo has 160,000 buyers, and since its launch in Brazil in February last year, the platform has delivered more than 700,000 packages in Brazil.
Walmart extends order delivery time.
On October 22, Walmart announced an extension of the delivery time. The daily working hours will be extended to 10 pm local time to increase the transportation capacity.
Orders placed before 6 pm will arrive on the same day or the next day. Suppose the delivery quantity of the order on that day is full. In that case, customers can choose the delivery time the next day or later.
In addition, Members of Walmart's subscription program, Walmart+, get access to unlimited free deliveries all season long. But for express delivery, Walmart+ members do have to pay the express fee. Other users need to pay a delivery fee of US$7.95-9.95. If you want to receive the package in two hours or less, you need to pay an additional US$10.
US payment platform Square and Mulberry collaborate to launch product guarantee services.
The US payment platform Square announced a partnership with Mulberry to launch product assurance services in its app for all retailers. This security service includes electrical appliances, electronic consumer products, furniture, and bedding.
Square sellers only need to download the Mulberry app to enable the service, and sellers can automatically send product guarantee statements to customers via email after checkout. Consumers who purchase Mulberry guarantee services can ask for support from Mulberry's customer service team and can file claims through the app.
BigCommerce launches a new application, "Ads and Listings."
On October 22, the US e-commerce platform BigCommerce announced that it had launched a new application, "Ads and Lists," on Google. The application allows BigCommerce sellers to connect their stores to Google Merchant Center and add products for free. Its functions include easy management of product catalogs, attracting new customers, increasing store traffic, and maximizing marketing effort. It is currently available to all BigCommerce small and medium-sized sellers. Still, it only supports USD currency, and international currencies will be available soon.
Amazon launches a new tool, "Product Opportunity Explorer," which is expected to be available to sellers for free in 2022.
Amazon released a new tool called "Product Opportunity Explorer." The tool is currently being tested and is expected to be available to all third-party sellers for free in 2022.
This tool will provide sellers with user search information and detailed search volume data, growth report, sales history, and pricing trends, helping third-party sellers to obtain more sales data and trends.
Indian social e-commerce company Meesho raises over US$900 million in financing.
According to India's "Economic Times," Google has invested US$50-75 million in social commerce startup Meesho, which is part of Meesho's latest round of financing. Since the beginning of the year, Google's latest investment will bring Meesho's total funding to more than US$900 million, including US$300 million raised from the SoftBank Vision Fund II in April. Meesho will use the new funds to establish a consumer-oriented e-commerce entity that helps it compete with Amazon India and Walmart's Flipkart.
Walmart: Customers can buy Bitcoin at kiosks.
Walmart said on Thursday customers could buy Bitcoin through some of the Coinstar self-service kiosks in the United States. American Walmart stores have installed 200 CoinMe self-service kiosks now.
Amazon launches local sales service: brick and mortar sellers will provide in-store pickup.
Amazon has launched a new service called "Local Sales," allowing local retailers who join the Amazon platform to deliver goods through local couriers and self-pickup. Through this service, third-party sellers will give the consumers in-store self-pickup services in specific US cities. In some cases, consumers make online purchases on Amazon and pick up the goods from the local store on the same day.