Posted by Sheila Shayon on August 29, 2014 01:06 PM
Three Chinese billionaires are partnering to take on Alibaba as it prepares for what may be the largest IPO ever.
Wanda Group, China’s largest commercial land developer, Tencent Holdings and Baidu, will create a 5 billion yuan ($813 million) joint venture e-commerce company, "Wanda E-Commerce Company" that Wanda will control 70 percent of. The venture marries Tencent’s WeChat social messaging network, Baidu’s search engine prowess and Wanda’s 40 hotels, 49 commercial holdings and 40 department stores in a Chinese market that is already home to the world's biggest e-commerce operations, which are projected to hit $395 billion by 2015
“It’s a very interesting battle to watch—three top rich people join hands to challenge another bigger billionaire,” Cao Lei, director of the China E-Commerce Research Center, told Bloomberg. “The new venture will not be an immediate challenge to Alibaba. Rome can’t be built in a day.”
Indeed, Alibaba is a lot to reckon with. In the last quarter, the company's income rose to $1.1 billion, 42 percent higher than Amazon and eBay combined for the same period. Jack Ma, Alibaba’s founder, is China’s richest person with $21.8 billion, according to the Bloomberg Billionaires Index.Continue reading...
Posted by Mark J. Miller on August 21, 2014 04:47 PM
In an instant-gratification world filled with consumers who, like Veruca Salt before them, want everything right this very second, major brands have engaged in a battle to be the fastest and most-efficient at bringing them whatever they desire.
But while Amazon, Google and Walmart have been duking it out for a while, smaller, and perhaps more nimble brands are set to disrupt the same-day delivery fray. The latest master of delivery (of both people and things) is Uber, which is currently testing a delivery service in Washington D.C.
The car-service app is testing a new service called Corner Store that "lets users request more than 100 common items like allergy medicine, diapers, toothpaste right through the app,” according to PC Magazine. In addition, to boost business, it has now allowed other apps, such as Starbucks, Hyatt, and United Airlines to add in an Uber button to their apps.Continue reading...
Posted by Sheila Shayon on August 18, 2014 02:03 PM
With e-commerce projected to account for 11 percent of US retail sales, totaling $414 billion by 2018, Yahoo is re-launching Yahoo Stores so it can grab a bigger piece of the growing online merchant market.
Initially launched in 1998, the updated platform enables merchants to build and transact on sites hosted by Yahoo for up to $9 per month, complete with tools for creation, marketing, analytics, custom templates and domain names. The platform is already used by more than 1.5 million small businesses as more sellers take to the Web to sell their wares.
"We’ve taken care of some of the stumbling points that small businesses face in setting up online stores," said Amit Kumar, head of Yahoo Small Business, according to the Wall Street Journal.
But Yahoo is a late re-entrant into an increasingly crowded field, with steep competition from Amazon, eBay, Shopify and Etsy, many of which offer customized online storefronts for small businesses.Continue reading...
Posted by Dale Buss on August 15, 2014 09:34 AM
Coca-Cola buys 17 percent of Monster Beverage for $2.2 billion.
Samsung buys Internet of Things startup SmartThings.
SeaWorld bows to pressure, agrees to upgrade killer-whale habitats.
Walmart sales and traffic woes continue as CEO vows to fix problems.
Apple places pricey bet on sapphire screens and stores user data in China while CEO Tim Cook participates in ALS Ice Bucket Challenge.Continue reading...
Posted by Sheila Shayon on July 31, 2014 11:18 AM
eBay, the parent company of PayPal, is rebranding the online transaction service's Bill Me Later function to PayPal Credit, bringing consumer lending to the central part of the brand as it blows out the service globally.
It’s part of the company’s evolution to become a more integral part of commerce. The changes signal a strategic shift to “bring credit more to the center of PayPal,” said PayPal’s VP of Credit, Steve Allocca, according to TechCrunch. “[Credit is] especially important to us as we look to expand into the offline world and omni-channel. It’s going to be all the more important for us to have more levers to proactively manage and control our transaction expense.”
Allocca said customer spend rises by 30 percent after adoption of a PayPal credit vehicle and the recent changes support future goals of the brand to compete in retail POS as well as on mobile. Bill Me Later will cycle payments monthly through PayPal Wallet instead of the current website, minimizing steps between PayPal and Bill Me Later.
Meanwhile, PayPal is also expanding its small business lending program, PayPal Working Capital, which is still in invite-only beta. Since September of last year, the program has loaned more than 20,000 businesses upwards of $150 million from PayPal and lending partner, WebBank.Continue reading...
Posted by Shirley Brady on July 17, 2014 05:51 PM
Malaysia Airlines experiences another tragedy, with attack on flight MH-17 killing all onboard.
Apple beefs up female leadership by naming Blackrock cofounder to board.
FedEx indicted for role in distributing prescription drugs to web pharmacies.
Alibaba eyes September IPO.
Starbucks promotes Fizzio soda as Teavana iced tea gets a TV commercial.
MORE BRAND NEWS
Allstate teams with Kristin Chenoweth.
Amazon, Carnival and YouTube among best-perceived brands (per YouGov).
eBay sales show impact of data breach as site settles with LVMH over Louis Vuitton fakes.
eHarmony teams up with Limp Bizkit’s Fred Durst.
GM to use bankruptcy as a shield against recalled vehicle claims.Continue reading...
Posted by Shirley Brady on July 14, 2014 08:33 AM
Alibaba files highly anticipated US IPO.
Citigroup agrees to announce $7 billion settlement with US Justice Department.
GM faces federal criminal case over alleged misleading statements.
Lindt makes biggest acquisition ever with Russell Stover purchase.
Germany's 1-0 World Cup win makes star of "Super Mario" Gotze (Google's nod, above).
MORE BRAND NEWS
AARP woos marketers with spending power of Americans 50+.
Apple denies China security allegations, may be seeking fresh ad direction.
Brand USA comes under fire by conservatives.
Burberry shareholders revolt over CEO Christopher Bailey's pay.Continue reading...
Posted by Shirley Brady on July 9, 2014 08:01 AM
Brazil's "nightmare" of a World Cup loss to Germany sets Twitter record as most-tweeted sporting event ever (inspiring endless memes and Mick Jagger-blamefest) as Nike claims ambush marketing victory over official FIFA sponsor Adidas.
Adidas, meanwhile, is wooing Manchester United with US$100 million deal after Nike ends 13-year sponsorship, while GM-owned Europe-exiting team sponsor Chevrolet releases ManU limited edition vehicles for India and auctions off ticket packages.
Apple loses voice recognition patent lawsuit in China, launches "secret" eBay store.
Ellen DeGeneres signs five-year NYC lease as base to launch upcoming E.D. lifestyle brand with Christopher Burch.
Duke University sued by John Wayne's family in bourbon trademark battle.
More brand headlines by sector:Continue reading...