Formed from the merger of JD Daojia, which is JD’s online-to-offline business and Data Nexus, a large crowdsourcing delivery platform in China, Dada-JD Daojia has raised $500 million from Walmart and JD.
JD said the deal is part of its ‘Borderless Retail’ strategy, which includes staff-less stores and retail outlets that mix ecommerce with physical sales. JD also plans to make some items available in the US and Europe market through Google Shopping.
Goodwater Capital, one of the early investors of Musical.ly, believing that Internet radio is going to be a big trend in media, joins with SoftBank Ventures and KB Investment to invest $17 million into Korea’s Spoon Radio.
The funding is said to be used on expanding its service in Southeast Asia. Although most of that userbase is in Korea, the company said it is seeing growth in markets like Japan, Indonesia, and Vietnam.
US Lenders of Toys "R" Us are Forcing Hong Kong's Fung Group to Sell its Asian Business for far Less than $1 Billion
Lenders owed funds from the collapsed Toys R Us in North American are trying to have a US court force Hong Kong’s Fung Group to sell its stake in the profitable Asian subsidiary. They will make an opening bid of $760 million for the bankrupt retailer’s Asia operations, far less than the $1 billion offers.
In addition, Toys wants a U.S. federal judge to strip the company’s minority partner in Asia, Fung Retailing Ltd., of its right-of-first-refusal purchase option as well as forcing Fung to agree to sell its 15 percent stake in the joint venture.
Crocs Philippines has been working with aCommerce, the region’s leading brand ecommerce enabler to introduce the first ecommerce website in the Philippines. The new website is being able to offer shoes and stores finder to add convenience to online shoppers.
In the near future, Crocs will also partner with aCommerce in digital marketing services, such as performance marketing and influencer marketing to boost online sales. Crocs currently have an official shop-in-shop on Lazada Philippines.
The app-based marketplace for used goods has received an extra $500 million in funding from the South African ecommerce and media giant, Naspers. The company plans to double down on the growth of second-hand goods sales and house listing that was launched last month.
LetGo competes with the likes of eBay, Craigslist, OfferUp, and Facebook, among many others in the very crowded world of second-hand, locally-focused marketplaces.
Thai Retailers Association expects the country’s online retail sales to make up approximately 10% of Thailand’s total retail market and B2C online sales to reach $9 billion over the next five years.
In order to achieve that, retailers needed to adopt multi-channel approaches and use technologies such as point-of-sale (PoS), artificial intelligence, Big Data and online-to-offline platforms. The total retail market in Thailand in the first half of this year saw growth of 2.8%.