25 Oct The Ecommerce News Roundup – 25 October 2021
McKinsey & Company has recently reported that Europe is getting in right when it comes to tech start-ups.
According to their data, 32% of start-ups & scale-ups have been founded in the UK with 4 defined roads to success – network, scale, product & deep tech. These businesses are also more commonly focussed on ecommerce, consumer or media industries.
It also found that scale plays achieve faster commercial success when they invest ‘more heavily in sales, marketing & business development roles’. This is definitely in line with what we see when it comes to the recruiting pattern.
If you’re after some more news on all things ecommerce & digital, check out this week’s newsletter.
UK ECOMMERCE NEWS
DTC petfood specialist Butternut Box sees sales more than double.
The on-demand wine merchant taking on the grocery delivery giants.
B&Q opens its first purpose-built digital store as the brand commits to e-commerce growth.
INTERNATIONAL ECOMMERCE NEWS
Betting firm 888 revenue jumps thanks to market expansion.
HelloFresh expands to Italy.
H&M and Lablaco launch blockchain rental service.
Richemont and Farfetch in talks to offload YNAP.
Alibaba takes on Shein with international fashion app.
(Business of Fashion)
Snap to help brands create augmented reality ads with new studio.
Facebook is planning to rebrand the company with a new name.
Facebook launches digital currency wallet.
Pinterest adds ecommerce capabilities to enable creators to earn money.
VisionLabs unveils world’s first facial recognition payment terminal.
IN THE MARKETS
Moneysupermarket.com moves for Sheffield cashback business in £87m deal.
Plant-based meal delivery service Allplants raises £38m in funding round.
Gorillas grabs $1bn to join big beasts of rapid groceries start-ups.
Rent the Runway announces launch of IPO.
(UK Fashion Network)
Stripe acquires Recko, its first acquisition in India.