Here’s what you should today.

1. Walmart makes an acquisition-buys outdoor retailer Moosejaw for $51m

Walmart announced that it has acquired a leading outdoor retailer Moosejaw for approximately $51 million in an all-cash deal. Headquartered in Michigan, the retailer has both a large online presence as well as 10 physical stores across Michigan and the midwest U.S.

Walmart’s interest in the retailer has a lot to do with the category it operates in and the industry relationships it brings to the table. The Moosejaw deal will give Walmart another entry point into apparel, a popular online retail category, as the retailer offers over 120,000 SKUs from more than 400 apparel brands, including Patagonia and The North Face.

85% of Moosejaw’s business is online.

This news comes right after Warren Buffett declares he has sold $900 million of his Walmart shares, signifying an entry into a different kind of retail era.

Read the rest of the story here.

 

2. StockX raises $6M to grow its marketplace for limited-edition products

StockX, a marketplace for sneakers, has announced that they’ve closed a $6M round from a group of high-profile investors like Mark Wahlberg.

How does it work? The startup calls itself a “stock market of things”, meaning that it uses a “bid/ask” market to connect buyers and sellers – just like an actual stock market does. For example, a buyer would place a bid for $650 for a pair of shoes, and a seller may be asking $680 for the same pair that they currently own. And when the bid/ask spread eventually meets, a transaction happens.

Read the rest of the story here.

 

3. China’s Tencent rumored to be eyeing Indonesia’s Go-Jek

Chinese Internet company Tencent Holdings is in talks about a possible investment in Go-Jek, Indonesia’s biggest mobile ride-hailing and delivery service.

Why would Tencent be interested?  Go Pay could offer Tencent a way to expand its payments network beyond China, similar to how Ant Financial has backed Indian payment company Paytm. High frequency services such as ride-hailing have proven to be a driver for use of mobile wallets. In China, Tencent grew its mobile payment system by teaming up with Didi.

Read the rest of the story here.

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