Colombian point-of-sale lender ADDI nabs $12.5 million from Andreessen Horowitz

Andreessen Horowitz <3 Latin American startups. Latin America is the only region outside of the U.S. where the venture firm is routinely investing capital, and it just made another commitment, doubling down on its early-stage support for the point-of-sale lending startup ADDI. ADDI picked up $12.5 million in new financing in April of this year […]

A young entrepreneur is building the Amazon of Bangladesh

At just 26, Waiz Rahim is supposed to be involved in the family business, having returned home in 2016 with an engineering degree from the University of Southern California. Instead, the young entrepreneur is plotting to build the Amazon of Bangladesh. Deligram, Rahim’s vision of what e-commerce looks like in Bangladesh, a country of nearly […]

Ikea invests in Livspace, a one-stop platform for interior design based in India

Fresh from raising $70 million last year via big names including Goldman Sachs and TPG Growth, Livspace, an India-based startup that offers a one-stop-shop for interior design, has lured yet another marquee investor: Ikea. The startup said today it has taken an undisclosed investment from Ingka Investments, the VC arm of Ikea parent Ingka Group, which […]

Alibaba invests about $635M in Red Star Macalline, one of China’s largest furniture sellers

Alibaba Group has acquired about RMB 4.36 billion ($635 million) worth of convertible bonds in Red Star Macalline, one of China’s biggest furniture retailers. If converted, this would give Alibaba about a 10% stake in the company. It also purchased 3.7% of Red Star Macalline’s publicly traded shares on the Hong Kong stock exchange, according […]

Apple CEO Tim Cook talks WWDC student program, coding initiatives and SAP

For the past few years, Apple has been inviting student developers to attend its WWDC conference, which centers on development topics and software. A few students from this year’s batch are getting some more personal attention from Apple as it tries to raise awareness of the program and coding literacy via its Swift Playgrounds and […]

Vue.ai raises $17M to equip online retailers with AI smarts

Vue.ai, a U.S./India startup that develops an AI platform to help online retailers work more efficiently and sell more, has announced a $17 million Series B round. The investment is led by Falcon Edge Capital with participation from Japan’s Global Brain and existing backer Sequoia Capital India. Parent company Mad Street Den was founded in […]

JCPenney explains why it dropped Apple Pay

JCPenney quietly ditched Apple Pay this month. The decision was announced in response to a customer complaint on Twitter, but without any context or further explanation at the time. JCPenney had first rolled out Apple Pay into testing in 2015, then expanded to all its U.S. stores the following year, and later to its mobile […]

Xiaomi Q4 sees strong growth in overseas shipment and internet services

Xiaomi, the Chinese company known for its cheap handsets and a vision to drive revenues by selling internet services, has come in ahead of analysts’ estimates in its fourth-quarter profit although revenues missed expectations. The Hong Kong-listed company more than tripled its net profit to 1.85 billion yuan ($276 million), exceeding the 1.7 billion yuan […]

Foot Locker invests $100 million in GOAT Group

Foot Locker, the mostly mall-bound retailer of mass market sneakers, has invested $100 million in the sneaker marketplace and retailer of primarily rare and exclusive high-end athletic and lifestyle shoes, GOAT Group. The companies said that the investment would eventually lead to Foot Locker and Goat Group combining their efforts across their digital and physical […]

Apple unveils new in-store sessions covering photography, Garage Band, health and more

Apple is launching 58 new Today at Apple sessions to beef up its in-store education offerings for people who want to explore Apple’s products. The sessions, which cover video, photography, accessibility, coding, music, health and more, are free to attend and available at all of Apple’s retail stores across the world. For the unveiling, Apple […]