Positional Scarcity, Shopify Acquires 6 River Systems, Group Nine Media Raises $50M
Covering and Curating commerce daily from Amazon to Zulily.
Positional Scarcity - Alex Danco
Each day on Tech Twitter, we get up in the morning, open up the website, and then go see what it is we’re mad about. A few days ago, it was this: The concept of “pay to get a better place in line” …
So long as Google retains its effective monopoly on search traffic (and controls the Chrome browser from which many of these queries, a lot of which are simply customers typing in the business name rather than adding “.com” at the end or something), they own something even better than a drawbridge.
But I’ll leave with this thought: as the mobile internet, e-commerce, and the transformation of retail continues onward, I think there’s an incredible opportunity to build a loyalty business in “everyday internet-powered consumption”: taking Ubers, ordering anything powered by Shopify, that kind of thing.
E-Commerce Platform Shopify Buys Warehouse-Robot Startup - WSJ
Shopify paid $450 million to acquire 6 River Systems, which makes software and autonomous mobile robots that guide workers through warehouse aisles, lighting up when they reach the next item to pick. Customers for the units include Office Depot Inc., Lockheed Martin Corp. and XPO Logistics Inc.
Ottawa-based Shopify provides internet shopping platforms and other services that help customers such as Unilever PLC, Kylie Cosmetics and footwear maker Allbirds Inc. sell items online.
Earlier this year, Shopify rolled out a service offering customers access to a network of dedicated U.S. fulfillment centers to store and ship consumer goods for online orders, a move aimed at helping retailers speed up delivery as they compete with Amazon.
Syte snaps up $21.5M for its smartphone-based visual search engine for e-commerce – TechCrunch
Visual search has become a key component for how people discover products when buying online: If a person doesn’t know the exact name of what he or she wants, or what they want is not available, it can be an indispensable tool for connecting them with things they might want to buy. Now, one o…
Now, one of the companies building technology to do this has raised a round of funding to expand its business further into the U.S., and not just across digital platforms, but to tap further into the opportunities of bringing visual search into the world of physical commerce , too, by way of smart mirrors and apps for store assistants to better help customers.
They are instead shopping by browsing social media platforms like Instagram and buying from there, which essentially opens those retailers to whole new set of competitors, and puts them potentially at a great disadvantage, as they are not as well-equipped to speak to that audience or anticipate what interests them to trigger sales.
Why Amazon's Twitch, Facebook and tech giants want live sports - Fox Business
In a three-year agreement, Twitch will live-stream all of the NWHL’s regular season and playoff games and collaborate with the league on interactive content for fans.
Amazon’s streaming platform Twitch will exclusively broadcast the upstart National Women’s Hockey League games in a new partnership starting this fall, joining other tech giants which are experimenting with live sports as more users ditch traditional television for digital options.
Group Nine Media Raises Additional $50 Million From Discovery and Axel Springer - WSJ
Group Nine Media raised an additional $50 million from existing investors Discovery and Axel Springer, an investment that values the owner of NowThis, the Dodo and Thrillist at more than $600 million.
Revenue was boosted by growth in the company’s advertising business and new distribution agreements, including a recent deal to produce “Izzy Bee’s Koala World” for video-streaming giant Netflix Inc.
The younger Mr. Lerer said Group Nine Media’s business strategy has been consistent since the company’s inception: Developing diverse sources of revenue, building specialized brands that lead consumer categories and centralizing services and functions.
How fast food became the new Supreme | Modern Retail
Supreme has long been an arbiter of all what’s cool, thanks to its drop model strategy. The brand keeps customers waiting and then drops new items at a moment’s notice. Now, fast food restaurants are…
By trying use a scheme that piggybacks off of chicer fashion brands — a “drop” is essentially a limited amount of supply being released quickly in select locations — these fast food companies accessing a new sort of cultural cachet.
What began as a small campaign to ride the coattails of a popular television program, turned into a melee with thousands of rabid fans descending on McDonald’s trying to get their hands on the prized dipping sauce.
Target set to roll out its revamped loyalty program nationwide - CNBC
Target says it will be taking its recently revamped loyalty program, Target Circle, nationwide beginning Oct. 6. It offers birthday rewards and other personalized coupons.
"We are seeing a benefit in building our guest base," Rick Gomez, Target's chief marketing and digital officer, said on a call with media.
Target joins retailers including Macy's , Nordstrom , Nike and Kohl's that have made greater investments in their loyalty offerings.
Wendy's cuts 2019 forecast as it ramps up investment to launch breakfast nationwide next year - CNBC
Wendy's plans to invest about $20 million to support its U.S. stores to prepare for the nationwide launch of breakfast.
As a result of its entrance into the breakfast wars, Wendy's plans to invest about $20 million to support its U.S. stores in preparation for the launch.
The war for breakfast customers has been heating up for the last five years, as McDonald's, Burger King and Taco Bell have pushed early morning offerings.
How the U.S. Open became a branded juggernaut - AdAge
Open ... for business: From Heineken to Mercedes to Rolex, sponsors pump record dollars into the brand-friendly tournament.
From stalwarts Serena Williams, Roger Federer and Novak Djokovic to exciting newcomers Naomi Osaka, Coco Gauff and Zhe Li, tennis is reaching a global audience at an unprecedented scale.
“We are having the best generation of players we’ve ever had—even the legends of the sport would agree with that,” says George Ciz, senior VP of marketing and business development at the Association of Tennis Professionals.
Root Insurance, an Ohio-based car insurance startup that uses smartphone technology to understand individual driver behavior, said Monday it has raised $350 million on a $3.65 billion valuation in a Series E funding round. The amount of the round was reported last month by Axios, citing anonymous …
This official announcement fills in the remaining details, including that DST Global and Coatue Management led the funding round.
Root provides a quote that rewards good driving behavior and allows customers to switch their insurance policy.
Businesses Across the Board Scramble to Comply With California Data-Privacy Law - WSJ
The California Consumer Privacy Act was designed to make tech giants more transparent about how they handle consumer data—and now companies from Starbucks to the Gap also are racing to comply.
Facebook must pay a $5 billion fine after the FTC found the social media company deceived users and improperly managed their personal data. Under the settlement, Facebook is also subject to stricter oversight on how it manages user data.
AB InBev, the makers of Budweiser, Stella Artois, and Corona, have established a Silicon Valley innovation hub to explore new technologies such as artificial intelligence (A). Here we take a look at how the world's largest beer brewer is using the technology to make a real difference.
Adobe StockAB InBev – producer of renowned brews including Budweiser, Stella Artois, and Corona - is building machine learning into key areas of its business, as it seeks to bring one of the world’s oldest industries into the digital age.
Currently being piloted in Brazil, the company hopes the platform will eventually be rolled out globally – good news for beer fans who are more likely to find their favorite stores, restaurants, and bars well stocked when they drop by for a pint or two.
Could Rihanna’s new lingerie line turn out to be her greatest hit? - The Guardian
The star’s Savage X Fenty range is stealing the market from Victoria’s Secret
Rihanna’s event will be streamed on 20 September by Amazon Prime, and is expected to be aggressively marketed to its app users and customer base, propelling the viewership and sales far beyond the reach of any other show.
Casting relatable women in beauty and lingerie campaigns, and offering products that cater to all body shapes and skin tones, and at affordable prices, may seem obvious, but it remains a groundbreaking model for the industry.
These Latina Businesses Are Changing How LA Shops — Online And IRL - LAist
To brick-and-mortar or not to brick-and-mortar? That is the question.
(Courtesy of Hija de tu Madre)It's easy to feel cynical about companies pushing identity for profit — witness major retailers stamping feminist mottos on everything from t-shirts and tote bags to baby onesies and barware — but some local brands are the genuine article.
As online shopping decimates mega malls and forces old school retailers to rethink their strategies, independent brands are stepping up, using social media and community connections to make their mark.
Alibaba’s New Chairman Says He Has to Reinvent Retail Before Someone Else Does - Bloomber
For months, Daniel Zhang huddled with a small team in an underground garage in Shanghai. The chief executive of Alibaba Group Holding Ltd. was working on a secret plan t...