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Facebook is quietly setting the stage for an unprecedented new chapter in its business

“By investing in ecommerce and payments, Facebook gains an opportunity to cash in on its existing audiences in all-new ways” writes Rob Price for businessinsider.com. Facebook’s quarterly revenues have always been dominated by its advertising business.If Facebook can make its overall payments and ecommerce business even a quarter as successful as its ads business, that’s an extra $17 billion-plus in revenue every year.The $555 billion company’s escalating efforts in the financial sphere highlight how the company is in the midst of an unprecedented push to diversify beyond its core lucrative…

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Nike to pull its products from Amazon’s e-commerce platform, ending 2-year pilot program

“Athletic retail giant Nike will stop selling its products on Amazon, ending a two-year pilot program” writes Nat Levy for geekwire.com. Nike had long avoided selling directly on Amazon, but in July 2017 it changed course, announcing plans to offer “a limited Nike product assortment,” on the e-commerce platform. Source: geekwire.com

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Alibaba Ties with Loli to Offer Bitcoin Rewards to US Buyers

“Chinese e-commerce giant Alibaba has partnered with Loli, a Bitcoin reward platform, enabling the shoppers to earn rewards in the digital currency” writes Arnab Shome for financemagnates.com. Commenting on the partnership, Alex Adelman, co-founder and CEO of Loli, said: “I’m excited to partner with Alibaba on Singles Day and offer the opportunity to earn bitcoin back to its shoppers.According to TechCrunch, the November 11 Singles Day sale hit $38.4 billion on the merchant platform this year. Source: financemagnates.com

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Amazon CTO Werner Vogels says it will ‘go out of business in 10 to 15 years’ if it stops innovating

“Yet according to Amazon chief technology officer Werner Vogels the tech giant will “go out of business within 10 to 15 years” if it fails to keep innovating” writes Charlie Wood for businessinsider.com. Asked what Amazon does better than eBay as a company, Vogels replied: “We [Amazon and eBay] both demonstrated that we have many businesses that are in some ways competing with each other.”I’m a strong believer that, at Amazon, if we stop innovating, we’ll be out of business in 10 to 15 years,” he said. “[If we stop]…

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We asked a 17-year Walmart transportation exec everything about the Fortune 1’s massive supply chain network — from increasing sustainability to its trucking fleet that’s more exclusive than Harvard. Here’s the full conversation.

“But you think about that in the broader supply chain that, did it ship from the vendor yet?” writes Rachel Premack for businessinsider.com. I’ve noticed in my own reporting that actually logistics, transportation, supply chain is becoming a really hot area for VCs, for startups.Premack: Another interesting point in Walmart’s supply chain is this push or this new interest in trains or intermodal.So we’re trying to find unique ways throughout the supply chain and also picking up at our store. Source: businessinsider.com

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Alibaba reports Q2 revenue of $16.91B, up 40% YoY, with net income more than tripling to ~$10B due to a one-time gain related its stake in Ant Financial

“Total revenue rose to 119.02 billion yuan ($16.91 billion) in the second quarter ended Sept. 30 from 85.15 billion yuan a year earlier” writes Min Read for reuters.com. (Reuters) – China’s Alibaba Group Holding Ltd (BABA.N) reported a better-than-expected 40% rise in second-quarter revenue on Friday, powered by strong growth in its e-commerce and cloud computing businesses.Analysts were expecting revenue of 116.8 billion yuan, according to IBES data from Refinitiv.Sales from the company’s e-commerce business rose about 40% to 101.22 billion yuan, while its cloud computing business posted a 64%…

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Ex-Snap exec Imran Khan has raised an additional $12.5 million for his e-commerce startup Verishop

“Rakuten Ventures, Lightspeed Venture Partners, Madrona Venture Group, and real estate company Simon Property Group participated in the pre-Series B round” writes Tanya Dua for businessinsider.com. The company has raised $30 million to date, with Lightspeed Venture Partners leading its series A round with an investment of $17.5 million in November 2018, Axios reported.With the latest round, the company has a theoretical value of about $100 million, said a source familiar with the company. Source: businessinsider.com

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Morning Brief 10.3.19: Tencent, Citi highlight $585 million Indian B2B e-commerce investment

“The company has appointed Ted Bilke to be chief technology officer and promoted Gred Adelson to chief operating officer” writes John Adams Is for paymentssource.com. Forbis’ career at Jack Henry dates to the 1980s, and was named chief technology officer in 2006.How far will consumers go to get a metal payment card?. Western Union Expands Real-Time Cross-Border Payment Service Western Union Co. has made available its real-time cross-border platform.Payment and financial services technology company Jack Henry will reorganize its executive team as Mark Forbis, executive vice president and chief technology…

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India protectionist, but U.S. negotiating limited trade deal: Ross

“GSP (reinstatement) could be called a limited trade deal,” Ross said” writes Midwest Communications Inc for 95kqds.com. The United States and India have been locked in trade disputes for months that have led to tit-for-tat tariffs.NEW DELHI (Reuters) – India is among the world’s most protectionist countries but the United States is trying to negotiate a limited trade deal with the South Asian nation to resolve their differences, U.S. Secretary of Commerce Wilbur Ross said on Thursday. Source: 95kqds.com

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Vaping devices still available on Amazon, Flipkart after India ban

“On vaping devices still being available for sale on Amazon and Flipkart, senior health ministry official Vikas Sheel said such products should be removed” writes Midwest Communications Inc for 95kqds.com. The ban was issued through an executive order, which has been in force since Wednesday night, a health ministry spokeswoman said.However, it was still possible to purchase vaping devices from the e-commerce websites of Amazon.com and Flipkart, according to product listings reviewed by Reuters on Thursday. Source: 95kqds.com

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