Marek Talarczyk (Netguru CEO) recently pointed out that the innovating cycle has dramatically shortened over the recent years. There’s much less time between having an original idea and establishing a new category, which requires actors to innovate and validate faster. It’s not about digital transformation anymore (everyone’s digital already), it’s about owning the category through acceleration of digital means - and that’s going to be one of the major themes of 2022 and beyond (especially if we’re to see more lockdowns and restrictions again).
Check out the Reader’s Corner section where I have some good recommendations about the right marketing approach for Big Tech. Customization has never been more important than now - no matter the product, business development or sales strategy. And guess what? We have a podcast episode about it, just look for the one with Alina Cahill - Product Lead at Wolt.?
Disrupting Retail
- As it expands its brick-and-mortar reach and developing technology, Rebag has raised $35 million in Series E funding, bringing the total amount the company has raised to $103 million, according to a Wednesday press release emailed to Retail Dive. Novator, a private equity firm, led the Series E round, and General Catalyst also participated. The company said it will use the funding to grow its tech-enabled physical stores and improve its tech tools, including the Clair Technology Suite for pricing and trading in luxury items. The company also plans to open more stores in 2022, per the announcement.?
- As consumers increasingly adopt digital channels, more than half (55%) of mobile shoppers downloaded at least one new shopping app before the holiday season, according to a report from Digital Turbine. Among the top shopping apps downloaded were Amazon, Walmart and Target. But the report also identified other apps, including Nike, Etsy, Poshmark and Fetch Rewards, as "climbers," indicating consumers had above average install intent for these apps.
- In Munich, German low-price chain Netto is now also testing a convenience store where customers do not need to go to the cash register. The retailer claims to be the first food discounter worldwide to use this technology.
- Aldi (Süd) is launching 'express delivery' in Switzerland: orders will get delivered on the same day, with a delivery charge. By offering this service, the discounter is gradually expanding its online offer.
- Starting next year, Amazon plans to deliver groceries for other supermarket chains, both in continental Europe and the United States. In doing so, the retailer is entering the field of bicycle couriers and flash delivery services.
- Just Eat has announced a partnership with Asda, marking the platform’s first tie up with a major UK grocer. From January 2022, consumers in five initial locations across the UK will be able to purchase items from Asda via Just Eat’s platform, whether that be stocking up on fresh groceries or buying last minute dinner items.?
Finance & Tech
- Anthemis Group, an investment platform committed to cultivating change in the financial system today announced they have closed multiple funds. Combined, the total raises exceed $700 million, bringing the firm’s AUM to $1.2 billion. This milestone comes more than a decade after the company emerged as one of the earliest and most prolific investors in the fintech sector, signaling the next phase of growth for the company as it positions its platform, team and leadership for 2022 and beyond. “Because Anthemis was amongst the earliest investors in fintech and knows first-hand what it takes to go from an idea on a whiteboard to a high-growth regulated business, we have tremendous empathy for, and credibility with, the founders and executives that have built such great companies,” said Briana van Strijp, Anthemis Group Chief Executive Officer.
- Mobile banking platform MoneyLion is to buy embedded finance marketplace Even Financial for a total consideration of $440 million. Dee Choubey, co-founder and CEO of MoneyLion, comments: “Combining Even’s best-in-class recommendation engine with MoneyLion’s powerful first-party products and open architecture marketplace expands the range of products and services available within our platform, while delivering a new distribution channel for Even’s financial partners."
- Irish bank AIB has signed a €65 million, three-year deal with IBM to provide a clear pathway to a hybrid cloud technology environment. Graham Fagan, group director of enterprise technology & cloud engineering, AIB, commented: "As financial organizations progress on their cloud journeys, they need an approach that allows various cloud-based applications to work in concert. Our hybrid cloud strategy is helping us to simplify our technological infrastructure so that we can move and manage data, services and workflows across multiple clouds and on premise platforms. The IBM products and services we are acquiring allow us to further extend that hybrid cloud ambition in an innovative, agile, secure and compliant manner."
- Flywire has acquired UK education paytech WPM for an undisclosed sum. Flywire says that combining its payment platform with WPM’s software system will deliver “greater value” to institutions. “As a core pillar of our strategy, we continue to look for investment opportunities that supplement our strong organic growth and align with our belief that software drives value in payments,” says Flywire CEO Mike Massaro. Flywire believes global payments in education represents one of its largest market opportunities. The company estimates a global education payments volume of approximately $660 billion.
All Things Innovation?
- With e-commerce becoming increasingly globalized, a company called Taxdoo, which builds API-based tools to help e-commerce companies with tax compliance and other accounting needs, is announcing a round of funding: $64 million, a Series B that the Hamburg-based startup will be using to expand further across Europe and to build what it describes as the financial operating system for e-commerce businesses.
- Rivian will use some of the $13.7 billion it raised when it publicly listed its shares to build a second factory in Georgia that has double the capacity of its plant in Illinois. The company, which made the announced Thursday as part of its first earnings report, said the funds will be used to expand production capacity of its Normal, Illinois factory from 150,000 to 200,000 electric vehicles a year. Its second factory will be built east of Atlanta in Morgan and Walton counties and will have a targeted annual production capacity of 400,000 vehicles a year.
A Number to Remember
- Facebook’s parent company Meta has alerted 50,000 users of Facebook and Instagram that their accounts were spied on by commercial “surveillance-for-hire” schemes around the globe.
Reader’s Corner
- Many Big Tech companies have created platforms that offer businesses tips and tools and services to better target their customers online. These can be helpful — but anybody relying on them needs to be very careful. That’s because many of these companies’ claims about how to measure advertising effectiveness are wrong.
