macy's ecommerce China

Before you start your Wednesday evening, here’s a round up of what you should know:

 

1. Baidu sets up $3b fund to throw money at later-stage startups

Baidu Capital will focus on mid- and later-stage startups, with most rounds being in the range of US$50 to 100 million, said the firm today in an announcement. The funding will either be in US dollars or Chinese yuan. Read the rest of the story here.

 

2. Macy’s plans to launch an ecommerce site in China in 2017

 Macy’s Inc. says it will launch a Chinese e-retail site in 2017 in order to increase its digital presence in the world’s largest e-commerce market. The department store chain announced the plan in Shanghai. Alibaba says Macy’s has become one of the most popular sellers on Tmall Global where Macy’s sells 1,500 fashion products. Read the rest of the story here.

3.  Amazon and Google plan to become more involved with physical stores

Amazon is planning to set up drive-through click and collect locations. Meanwhile, Google will be opening a “Made By Google” pop-up store on New York’s Spring Street in just over a week’s time, on 20 October. Read the rest of the story here.

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