Alibaba’s Singles’ Day sales top $38 billion

After 24 hours of frenzied buying and selling, and weeks of aggressive advertising and promotions before it, the Alibaba Group said today its sales hit another record high on Singles’ Day, the biggest shopping day on the planet. The Chinese e-commerce giant said its platforms sold goods worth 268 billion yuan, or $38.4 billion today, […]

OLX Group invests up to $400M in used car marketplace Frontier Car Group at $700M valuation

Frontier Car Group, the Berlin-based startup building used car marketplaces targeting high-growth, emerging markets, has picked up another significant round of funding from a strategic backer also focusing on the same geographical opportunity. Today, OLX, the online classifieds division Prosus (the digital division of Naspers that listed earlier this year in Europe) announced that it […]

Wardrobe picks up $1.5 million for a new fashion rental marketplace

Wardrobe, a new peer-to-peer fashion rental marketplace, has today announced the close of a $1.5 million seed round and its public launch out of beta. The funding was led by angel investor Cyan Banister and Ludlow Ventures, with participation from GroundUp Ventures, Airbnb co-founder Nate Blecharczyk and HQ Trivia founder Rus Yusupov, among others. Wardrobe […]

Lowlights from Zuckerberg’s Libra testimony in Congress

‘I don’t control Libra” was the central theme of Facebook’s CEO’s testimony today in Congress. The House Of Representatives unleashed critiques of his approach to cryptocurrency, privacy, encryption, and running a giant corporation during almost five hours of hearings. Zuckerberg tried to assuage their fears while stoking concerns that if Facebook doesn’t build Libra, then […]

YellowHeart allows musicians and concert organizers to take more control of resold tickets

YellowHeart is trying to solve a problem that should be familiar to anyone who’s ever tried to buy a ticket for a popular concert: Those tickets will often get snatched up by scalpers, who then resell them at a much higher price. In fact, the startup’s CEO, Josh Katz, said he founded the company because […]

This brilliant app waits on hold for you

DoNotPay helps you get out of parking tickets and cancel forgotten subscriptions, and now it can call you when it’s your turn in a customer service phone queue. The app today is launching “Skip Waiting On Hold.” Just type in the company you need to talk to, and DoNotPay calls for you using tricks to […]

DoorDash opens a shared kitchen in Redwood City

DoorDash is opening its first shared commissary kitchen in Redwood City, Calif., bringing new delivery and pickup options to customers in Peninsula towns, including Atherton, Menlo Park and Palo Alto. This is part of a broader trend of companies like Deliveroo opening shared kitchens that allow restaurant partners to expand their delivery footprint without dealing […]

Why each Libra member’s mutiny hurts Facebook

There’s a strategic cost to the defection of Visa, Stripe, eBay, and more from the Facebook-led cryptocurrency Libra Association. They’re not just names dropping off a list. Each potentially made Libra more useful, ubiquitous, or reputable. Now they could become obstacles to the token’s launch or growth. Fearing regulators’ inquiries not just into their Libra […]

Pegging Libra to just the $ could soothe regulators, a16z says

What if Libra wasn’t backed by a basket of international currencies, but only the dollar? Regulatory pushback to the Facebook -led cryptocurrency Libra has caused major partners — including Visa, Mastercard, PayPal and eBay — to pull out of the Libra Association. But one of the remaining members has floated a major change to the […]

Club Factory raises $100M to expand its lifestyle e-commerce platform in India

Club Factory, a Chinese e-commerce platform that sells fashion and beauty items and electronics accessories, has raised $100 million in a new financing round as it looks to expand its footprint in India. The new financing round — Series D — was led by Qiming Venture Partners, Bertelsmann, IDG Capital “and  other Fortune 500 companies […]