India’s commerce minister Piyush Goyal on Wednesday expressed concern over the rapid growth of e-commerce in the country, warning of potential disruption to small retailers. Speaking at the launch of a report on the impact of e-commerce on employment and consumer welfare in India, Goyal said the projected dominance of online marketplaces in the coming […]
African e-commerce company Jumia completes sale of secondary shares at $99.6M
Almost two weeks ago, TechCrunch reported that African e-commerce giant Jumia was planning to sell 20 million American depositary shares (ADSs) and raise over $ 100 million, given its share price of around $ 5.70 at the time. The e-tailer has now completed the at-the-market transaction offering of 20,227,736 ADSs. Jumia sold the shares at […]
Egypt’s Cartona raises $8.1M even as investors pull back from B2B e-commerce in Africa
When Egyptian B2B e-commerce platform Cartona last raised money in 2022, global and local investors were eager to invest in African startups solving the supply chain and operational challenges for retailers and suppliers in the fast-moving consumer goods (FMCG) industry. Two years on, investors aren’t as enthused anymore as the business models of such startups, […]
Singaporean e-commerce firm Qoo10’s Korean units face probe due to payment delays to merchants
The e-commerce market in South Korea ranks as one of the largest in the world, but it’s also proving to be a precarious one. On Thursday, South Korea’s Fair Trade Commission announced that it had launched an investigation into two major South Korean e-commerce platforms owned by Qoo10—Ticketmonster (TMON) and WeMakePrice—for failing to pay out […]
Daydream rakes in $50M seed funding to build an AI-powered search engine suited for e-commerce
For retailers, e-commerce is a bit of a puzzle at the moment. Online shopping trends are expected to stay strong this year, so companies can’t afford to curtail their e-commerce budgets, but at the same time, e-commerce is more fragmented than ever before. There is a seemingly endless number of avenues to exploit — from […]