LONDON: OLX Group (OLX), a global online classifieds leader wholly-owned by Prosus, today announced it has entered into an agreement to acquire La Centrale, a leading French autos classifieds platform, from Providence Equity Partners L.L.C. for EUR1.1 billion. Closing is expected by year-end, subject to a customary employee consultation process. OLX operates fast-growing and highly…
Tag: ecommerce
Walmart lifts FY26 outlook as eCommerce, advertising drive Q2 revenue growth
World’s largest retailer posted revenue of $177.4 billion for the quarter ended July 31 BENTONVILLE: Walmart Inc (NYSE: WMT) raised its full-year sales and earnings guidance on Thursday after reporting a 4.8% rise in second-quarter revenue, driven by strong performance in eCommerce and advertising across its global operations. The world’s largest retailer posted revenue of…
Auction Technology Group acquires Chairish LLC for $85 million
LONDON: Auction Technology Group plc (LON: ATG), a leading operator of curated online auction marketplaces, announced Monday the acquisition of Chairish LLC, a premier list-price marketplace for vintage furniture, décor, and art, in a deal valued at $85 million. The acquisition marks a strategic expansion for ATG into the broader Arts & Antiques (A&A) market,…
Cardfactory acquires Funky Pigeon in £24 million deal to supercharge UK digital retail growth
LONDON: Greeting card giant cardfactory announced Tuesday it will acquire Funky Pigeon from WH Smith PLC for £24 million. The move signals cardfactory’s intent to become a top-tier omnichannel player in the UK’s celebration occasions market. Funky Pigeon, known for its personalised cards and attached gifting via funkypigeon.com, generated around £32 million in annual revenue…
My Business That’s Always “In the Making” – Why Ideas Aren’t Enough
For over a decade, I’ve told myself (and anyone who’d listen) that my business is in the making. I own a domain. I have a long list of ideas. But here’s the hard truth: An idea isn’t a business—it’s an excuse. So what’s the real hurdle? Execution. My Business: The Dream vs. The Reality My…
The Ultimate Guide to Ecommerce Delivery and Customer Loyalty
Ecommerce has redefined the traditional bricks and mortar retail model, with online stores no longer being considered a “nice-to-have” and instead a “must-have“. With KPMG reporting that the global retail ecommerce market size was estimated to be US$5.5 trillion in 2022, a clear ecommerce model can create a lucrative alternative revenue stream. As ecommerce continues to…
Vertu Motors acquires Wiper Blades Limited for £3.5mn
LONDON, UK: Vertu Motors, the UK automotive retailer with a network of 160 sales and aftersales outlets, announced the acquisition of Wiper Blades Limited, a leading e-commerce business specialising in the on-line sale of car wiper blades and other associated products through operating websites. This acquisition is in line with the stated strategy of the…
TPL Group’s Rider raises $2.3 million in seed funding round
KARACHI, PAKISTAN: TPL Group backed Rider, a tech-led last mile delivery partner for e-commerce retailers, has raised $2.3 million in a seed round led by venture capital (VC) firm Global Founders Capital, Fatima Gobi Ventures and Asian Development Bank. TPL E-Ventures and Transhold also participated. The Karachi-based B2B2C service was launched in 2019 by Salman…
MobilityOne Limited signs Australia joint venture agreement
LONDON, UK: MobilityOne, the e-commerce infrastructure payment solutions and platform provider, announces that M1 AP Sdn Bhd (M1 AP), a wholly-owned subsidiary of the Group incorporated in Malaysia, has entered into a joint venture cum shareholders agreement with One M Tech Pty Ltd to establish a new joint venture company in Australia (JVco). The purpose…
Samarkand Group closes significantly oversubscribed fundraising
LONDON: Samarkand Group plc, the cross-border eCommerce technology and retail group, has raised £17 million in an over-subscribed fundraising, a news release said. On March 08, Samarkand Group announced its intention to apply for admission of its Ordinary Shares to trading on the Apex segment of the Aquis Stock Exchange Growth Market and that the…
Easyship becomes Accelerate Partner in the Adobe Exchange Partner Program
BROOKLYN: Easyship, the leading shipping software for eCommerce, is also now an Accelerate Partner in the Adobe Exchange Partner Program. With Easyship’s full-service shipping solutions, Magento customers will now have ownership of the entire shipping process and be able to increase conversions by gaining access to affordable multi-carrier solutions from around the world. “We’re finding…
Visa eCommerce Summit declares digitally-enabled businesses best positioned for growth
DUBAI: Building on the surge in digital commerce since the start of the pandemic, Visa (NYSE: V), the world leader in digital payments, hosted the third edition of its eCommerce Summit for the Middle East and North Africa (MENA) region. Held virtually under the theme, “Thriving in The New Normal”, the event brought together government…