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Lightspeed dismisses report from activist investor critical of company’s metrics (BETAKIT)
“The report contains numerous important inaccuracies and mischaracterizations which Lightspeed believes are misleading and clearly intended to benefit Spruce Point.”
Tiger Global backs India’s OfBusiness at $3 billion valuation (TECHCRUNCH)
OfBusiness, a commerce startup that sells industrial goods and provides small businesses with credit, has doubled its valuation in less than two months to $3 billion, a top executive told TechCrunch.
Gatik reveals Goodyear as strategic investor, announces partnership deal (BETAKIT)
Gatik announced on September 28 that the partnership is part of a strategic investment from Goodyear’s venture capital arm, Goodyear Ventures. The firm participated in Gatik’s recent Series B round where the startup secured $107 million CAD.
Rivian, electric vehicle maker backed by Amazon and Ford, files to go public (CNBC)
Rivian Automotive, electric vehicle maker backed by Amazon and Ford, filed for an initial public offering on the Nasdaq. Electric car company Polestar is also going public via SPAC.
Shopify reportedly surpasses Amazon in online traffic, heating up race between the e-commerce firms (BETAKIT)
Shopify has reportedly beaten Amazon in a notable metric, online traffic, according to data reviewed by Business Insider.
Apple’s fortress of secrecy is crumbling from the inside (THE VERGE)
The last five months marked a turning point in Apple’s company culture — will it last?
Fobi to acquire Qples for $3.2 million USD to expand retail opportunities (BETAKIT)
Fobi will be taking full control of Qples’ digital platform in anticipation of Fobi’s next stage of significantly larger business developments.
Swiggy looks to catch up to Zomato’s valuation with new round (THE CAPTABLE)
The fundraise, expected to close in a few weeks, may vault the online food delivery startup into the rarefied Decacorn club now occupied mostly by listed companies.
Rebelstork strikes deal with Hudson’s Bay for baby gear resale program (BETAKIT)
The partnership follows the company’s recent $5 million CAD Series A financing round in June, bringing Rebelstork’s total funding to date to $7 million CAD after its $2 million CAD seed round last September.
Indian social commerce Meesho raises $570 million at $4.9 billion valuation (TECHCRUNCH)
Meesho has more than doubled its valuation in less than six months, to $4.9 billion, as a growing number of high-profile investors back the Indian social commerce startup that is reporting strong growth despite the pandemic.
WeCommerce announces new hires, including CFO (BETAKIT)
In July WeCommerce secured about $33.7 million in funding following the close of a previously announced bought deal financing.
Instacart shoppers will stage nationwide strike (VICE)
On October 16, a group of Instacart’s gig workers will log off the grocery delivery app until the company agrees to a series of demands that would result in higher pay.
“I’ll never buy online again”: Mexico’s department stores are bungling their e-commerce transition (REST OF WORLD)
Unlike e-commerce natives like Amazon and MercadoLibre, traditional retailers lack logistics and delivery know-how.