Apple’s (AAPL) CEO Tim Cook sat down for a 30-minute talk at The Wall Street Journal Live technology conference and spoke about Apple Pay, iPhone, iPod and partnering with Chinese e-commerce provider Alibaba. On the subject of Apple Pay, Cook said he understands why retailers are looking to cut the costs of credit and debit cards by establishing their own payment service. But he also said that he believes customers will only use these retailers if they offer the right payment options.
Tokopedia surprised everyone yesterday when it set the record for the largest round of funding in Indonesian startup history. Moments after the news broke of the US$100 million investment from SoftBank and Sequoia Capital, Jakarta’s social media lit up with questions and comments as Tokopedia came under the spotlight. But this big news leaves a lot of room for speculation. There are two questions that the Indonesian tech scene is sure to be asking itself right now.
Here’s more proof that Rakuten is serious about becoming a global ecommerce player alongside the likes of Amazon and Alibaba: the Japanese company today launched Rakuten.co.uk. According to TechCrunch, the new UK marketplace will sell goods from Rakuten and third-party retailers, in addition to offerings from its Kobo ebook store and Wuaki video streaming service.
NEW DELHI: China-based mobile Internet browser company UCWeb today said it has partnered with leading e-commerce firms including Amazon, Flipkart, Snapdeal for a 15-day Diwali shopping festival. “The idea is that you can browse and compare the product prices via UC Browser, to find the best available deals from Amazon, Flipkart, Snapdeal, Myntra, Jabong, Homeshop18 and Shopclues,” the company said in a statement.
If you earn a living off of your own online web store, Alibaba wants your business. The Chinese ecommerce behemoth is partnering with Bigcommerce, a service provider for online retailers, to help international web vendors source products from Alibaba.com, the company’s flagship business-to-business marketplace.
In what appears to be the largest round for an Indonesian startup on public record, online marketplace startup Tokopedia announced its approximate US$100 million financing round, led by Japanese conglomerate SoftBank Internet and Media Inc (SIMI). Sequoia Capital joined in as a follow on investor. With this round of funding, SoftBank and Sequoia Capital representatives will join the company’s board of directors. The funding also comes as Sequoia Capital’s first investment in Indonesia.
BEIJING, Oct. 19, 2014 / — JD.com, Inc.,China’s largest online direct sales company, today announced it has launched operations for the initial phase of its first highly automated “Asia No.1″ warehouse, located in Shanghai. JD.com launched the initial phase of its Asia No. 1 Shanghai warehouse on October 20, 2014. Comprising a total floor space of 100,000 square meters, the initial phase of the Shanghai facility will help increase JD.com’s logistics efficiency, particularly during peak periods such as the upcoming “Singles Day” period, one of JD.com’s biggest sales events of the year, which runs from November 1 to November 12.
Ecommerce might be young in India but it’s growing super fast. India’s ecommerce market will reach US$6 billion in consumer spending in 2015, leaping from US$3.5 billion in 2014, according to the latest data from Gartner . This makes it one of the fastest-growing ecommerce markets in Asia/Pacific. The potential for a 70 percent growth rate to be maintained or even accelerated can be seen from the low base from which it is emerging.
Local telco Telkomsel boasted the top Twitter engagement in Indonesia last month, according to a pair of reports from social media analytics firm Sotrender . Poland-based Sotrender aims to help businesses understand their social media impacts and make strategy decisions based on real-time data and reports. Its latest frontier is Indonesia. The reports include data on Facebook pages and Twitter profiles across nine categories: automotive, banking, beverages, cosmetics, ecommerce, fashion, food, technology, and telecommunications.
Amazon has tied up with the Future Group retail chain in India, which is a big step-up in distribution capability for both, and sounds fresh alarm bells for local ecommerce players Flipkart and Snapdeal. Media reports said the deal goes far deeper than selling Future Group products on Amazon. “We are exploring synergies in data sharing, co-branding, and distribution network sharing,” Future Group chairman Kishore Biyani told The Economic Times .
Home grown popular e-commerce site, Flipkart has reportedly begun sending apology mails to beleaguered consumers over the Monday’s (6 October) Big Billion Day flash sale fiasco. Despite minting huge revenue (close to $100 million/more than ₹600 crores) out of Big Billion Day gala, Flipkart’s much hyped flash sale faced severe criticisms over the poor handling of servers, which were unable to cope high incoming traffic volume leading to outages and sudden cancellation of the purchase.
The hope of replicating Amazon and eBay’s success in China seemed a near impossibility. Less than one percent of China’s population was online. China’s logistics infrastructure was primitive. China’s finance sector was dominated by inefficient state-run banks slow to embrace online payment systems. And, perhaps most importantly, buyers and sellers who didn’t know one another simply didn’t trust each other enough to transact online. The barriers to consumer ecommerce in China seemed insurmountable.
After its debut in the stock market in December 2013, iBuy stocks rose to almost A$0.70 in March before tumbling down to A$0.19 on October 3. Founded by famed Malaysian internet entrepreneur Patrick Grove, iBuy raised A$37 million (US$33 million) after its IPO. In April, it bought the Southeast Asian businesses of loss-making daily deals company LivingSocial for US$18.5 million.
NEW DELHI: Some mobile phone retailers have threatened to boycott Apple’s much-awaited iPhone 6 and 6 Plus models after their expected pre-Diwali launch because they are miffed that the iPhone 5S is being offered at heavily discounted prices on popular e-commerce sites Amazon, Flipkart and Snapdeal. According to sellers that ET spoke to, some of the 1.5 lakh retailers claimed they have returned their iPhone 5S models, saying they can’t compete with the discounts, which have lowered the price of the device to less than their cost.
Australian e-commerce merchant, eWAY, has expanded its global business into Singapore, Hong Kong and Malaysia. The launch adds three more countries to eWAY’s growing global operations and now supports businesses operating across Australia, New Zealand, the United Kingdom, Singapore, Hong Kong, and Malaysia. Since launching, the company has processed more than 110 million transactions worth $15 billion for more than16,000 active businesses both large and small.
Taiwanese Line addicts who like a little kawaii with their Quora will soon have a favorite new app. The team behind the popular mobile messenger has rolled out Line Q, a social Q&A app not unlike Yahoo! Answers, for domestic users. The app works much as one might expect – users register with a pseudonym (you’re not allowed to use your Line ID as your Line Q ID – which is a good thing), choose a few categories they’re interested in, and can then begin posting questions and replying to submissions from other people.
Tax authorities in Bangalore, the capital of Karnataka state, are looking into why Amazon India does not pay value-added taxes – as required under the VAT Act, 2003 – on goods stored in its warehouses. The investigation was first reported by Deccan Herald late last month. Now the matter has escalated. The Enforcement Directorate has issued notices to a number of vendors and stopped the sale of their products from Amazon’s warehouses, Mint reports.
NEW DELHI: Competition in the booming multi billion dollar Indian smartphone market is further set to intensify with e-commerce giants Amazon, Flipkart and Snapdeal all set to launch Google’s much-awaited sub-USD 100 (around Rs 6,000) handsets tomorrow. Google is launching the Android One devices in India tomorrow. In June this year, the US-based tech giant had announced the ‘Android One’ initiative to bring in under-USD 100 handsets aimed at bringing the next one billion population to the Android operating system ecosystem.
Singapore-based online grocer RedMart announced its foray into India with a development center in Bangalore. No, it is not going to sell groceries online in India. At least, not yet. Instead, RedMart’s move to India is to push the technology side of its operations. To do that, the company is hiring engineers in India currently. RedMart was founded in March 2011 by Roger Egan, Vikram Rupani, and Rajesh Lingappa. It is backed by the venture arm of game publisher Garena, Skype co-founder Toivo Annus, Facebook co-founder Eduardo Saverin, CEO of FreshDirect Jason Ackerman, Visionnaire Ventures, and SoftBank Ventures.
At a press conference in Tokyo today, Hiroshi Mikitani, founder and CEO of Rakuten, Inc. (TYO:4755 ), confirmed reports that his company will acquire American online coupon firm Ebates . The ticker price comes in at JPY 105 billion (US$1 billion). Founded in 1998, Ebates offers coupons or cash-back incentives to drive online shopping. Stores register on Ebates and post coupon codes or cash-back terms. Shoppers registered at Ebates can then copy the coupon link, click on the product they want to buy, and make the purchase. For cash-back offers, Ebates will send the user a check four times a year or more.