E-commerce news
One story a day from the e-commerce world, and what it means for your store.
4 stories
- Funding & deals
Descartes buys 3PL warehouse software maker Extensiv for about $120M
Logistics software group Descartes announced on September 1 that it has acquired Extensiv, a California provider of warehouse management and fulfillment software for third-party logistics providers, for about US$120 million in cash. Sellers whose 3PLs run Extensiv are indirectly affected.
- Funding & deals
Shein debuts in Hong Kong at HK$48.56, closes 8.9% lower on day one
Shein began trading on the Hong Kong Stock Exchange on September 1 under stock code 00625 after raising about US$1.74 billion. Its prospectus puts marketplace commissions at 10% to 20% of transaction value, public data that matters to sellers on its platform.
- Funding & deals
Stripe and Advent drop $53B bid for PayPal; PayPal shares slide
Stripe and private equity firm Advent International have ended their pursuit of PayPal, according to Axios and Reuters, after offering $60.50 a share. Merchants using PayPal, Venmo or Stripe keep dealing with two separate, independent companies.
- Funding & deals
Levanta raises $22M to link Amazon and Walmart sellers with creators
Seattle-based creator affiliate platform Levanta announced a $22 million Series B led by Volition Capital on August 27. Brands selling on Amazon, Walmart and Shopify that pay creators to drive traffic are the core users.