M&A, JVs, and Alliances
Marketplace News
AutoScout24 acquires TRADER Corporation
- AutoScout24 has acquired TRADER Corporation from Thoma Bravo?
- TRADER Canada operates automotive marketplace AutoTrader.ca and AutoHebdo.net, with 26MM monthly visits, over 450,000 vehicle listings, and 5,000 dealer partners, offering automotive dealer software, the Dealertrack portal, and Collateral Management Solutions for lien and registration services
- This acquisition will allow AutoScout24 to expand globally, strengthen its position as a leading online automotive marketplace, and offer new dealer software and lender solutions through TRADER Canada
- "This acquisition strengthens AutoScout24's position as a leading global online automotive marketplace and will help accelerate the growth of both platforms. As a result, we will offer our customers, trade partners, OEMs, and financing partners in Europe and Canada better services and more innovative solutions." said AutoScout24 Group, CEO, Peter Brooks-Johnson
E-commerce News
GrubMarket acquires FreshGoGo
- GrubMarket, a leading food tech e-commerce company has acquired FreshGoGo, one of the largest online Asian grocery and specialty food e-commerce platforms in North America
- FreshGoGo is an Asian grocery and specialty food e-commerce platform in North America
- This acquisition will expand GrubMarket’s service offerings and logistics by integrating FreshGoGo’s advanced infrastructure, enhancing product selection and delivery efficiency, and boosting GrubMarket’s competitive edge
- “We are thrilled to welcome FreshGoGo, a true pioneer in the Asian grocery delivery market, to the GrubMarket family. FreshGoGo’s exceptional brand and innovative platform perfectly align with our mission to digitally transform the food supply chain in America.” said Mike Xu, GrubMarket, CEO
Sector news
Marketplace News
Ikea launches second-hand marketplace to compete with eBay
- Ikea has launched a new second-hand marketplace to compete with eBay, focusing on used furniture and home goods
- The marketplace supports Ikea's sustainability goals by promoting product reuse and recycling, aligning with its environmental initiatives and attracting eco-conscious customers
- Ikea now wanted to develop a platform that was “the go-to place for home furnishing”, of which the marketplace would be “one of the most important parts”
TickPick secures $250MM investment from Brighton Park Capital
- TickPick, the modern transparent ticket marketplace has secured a $250MM investment from Brighton Park Capital?
- Symphony Ventures, Rory McIlroy’s investment partnership, has joined as a strategic investor
- The funding will accelerate growth, enhance its no-fee ticketing platform, advance technology, expand market reach, and strengthen partnerships with major sports entities, positioning TickPick to disrupt the traditional ticketing industry with its transparent pricing model
Fresha secures $31MM in financing from J.P. Morgan
- Fresha, the leading marketplace platform for beauty and wellness has secured $31MM in venture debt from J.P. Morgan?
- The funding will support its growth into new markets and also help in enhancing its machine learning and AI-powered robotics for its platform
- "Fresha is steering the rapidly expanding beauty and wellness space with its innovative technology and strong unit economics. Their unique business model is transforming the industry landscape, and it's precisely the type of innovation we want to help drive globally." said Alexandra Wyatt, U.K. Innovation Economy banking, J.P. Morgan
HouseEazy raises $7MM for resale home marketplace growth
- HouseEazy, a marketplace for resale homes has raised $7MM in a series-A funding round?
- This round was a mix of equity and debt led by Chiratae Ventures and saw participation from Alteria Capital and existing investor Antler
- The funds will be used to expand the organization's growth across new geographies in NCR, strengthening brand presence, team expansion and product enhancement
Chaiz raises $3.7MM in seed funding
- Chaiz, a comparison marketplace for extended car warranties secures $3.7MM in seed funding
- The company allows users to get quotes in minutes without submitting a phone number or email address, ensuring privacy and a hassle-free experience
- The round was led by ResilienceVC. Anker Capital, Automotive Ventures, Everywhere Ventures, FJ Labs, Monte Carlo Capital, Never Lift Ventures, RedBlue Capital, and Springtime Ventures
- It intends to use the funds to continue innovating in the breakdown protection space and expand product coverage for other critical items for customers like RV, motorsports, and home appliances
Tingit secures €500,000 pre-seed for repairs marketplace
- Vilnius-based startup Tingit, a repairs marketplace, has secured a pre-seed investment of €500,000, led by Firstpick, a Lithuanian VC fund, and accelerator for tech startups in the Baltics, with participation from BADideas.fund (Latvia), PurposeTech (Czech Republic), and Heartfelt Capital (Germany)
- The company offers an app that connects consumers with repair specialists, integrating service booking, payment, and shipping all within the platform for a streamlined repair experience.
- The funding will help Tingit launch the Service Provider Gateway, develop an integration API, and expand internationally into sports goods, toys, and consumer electronics
E-commerce News
Walmart sells $3.6BN stake in JD.com to focus on warehouses
- Walmart has sold its major shareholding in Chinese e-commerce firm JD.com
- JD.com is a Chinese e-commerce company that operates a large online retail platform and logistics network
- This sale will allow Walmart to focus more on expanding its own warehouse operations and e-commerce capabilities
- Walmart offered $144.5MM worth of JD.com shares, priced between $24.85 and $25.85 each
- “This decision allows us to focus on our strong China operations for Walmart China and Sam’s Club, and deploy capital towards other priorities,” Walmart said in a statement
Bolt secured $450MM at $14BN valuation
- Bolt Financial, a well-funded startup that provides software for e-commerce companies has secured $450MM at a $14BN valuation
- Bolt provides a cloud-based platform that enables online retailers to process purchases and allows consumers to create a single shopping account for use across multiple e-commerce sites, streamlining the checkout process
- Equity funding will account for less than half the $450MM investment. Bolt is expected to receive $250MM in the form of “marketing credits” from U.K. investment firm The London Fund.
- The funding will help Bolt expand its payment and checkout solutions, enhancing its global reach and technology infrastructure and aims to streamline online transactions and improve the checkout experience for consumers and merchant
Zepto raises $340MM at a $5BN valuation
- Indian instant delivery startup Zepto has finalized a $340MM round that values it at $5BN, up from $3.6BN in June and $1.4BN last August, as the startup races to win market share in India’s contested quick-commerce market
- General Catalyst and Mars Growth Capital are co-leading the series G round
- With this new round, Zepto has raised nearly $1BN in fresh funding this year
Heatmap closes $4MM seed funding
- Heatmap, a data analytics tool for e-commerce websites secures $4MM in seed funding led by Vine Ventures, with participation from Hawke Ventures, Pari Passu Venture Partners, el cap, and Mu Ventures
- The company provides an on-site analytics platform that combines revenue to every pixel on every page of a given website, enabling users to optimize for buyer behavior instead of site traffic
- It intends to use the funds to drive growth and launch a custom-built AI model that delivers direct recommendations for website improvements
Pitney Bowes sells controlling interest in the global e-commerce segment to Hilco Global
- Pitney Bowes has sold a controlling interest in its Global E-Commerce (GEC) segment in the US to Hilco Commercial Industrial, part of Hilco Global
- The sale supports the liquidation of GEC entities under Chapter 11
- Hilco Global will manage the liquidation process, with Pitney Bowes providing up to $45MM in debtor-in-possession financing
- The move addresses approximately $136MM in losses for GEC in 2023 and allows Pitney Bowes to focus on its core operations
Farfetch to close its e-commerce software service
- Farfetch is shutting down its software service, called Farfetch Platform Solutions (FPS), to focus on its core marketplace
- FPS, which was formed in 2015 and provides online shopping tools for the likes of Harrods
- The closure of FPS results from Farfetch's operating losses, which contributed to Coupang, its parent company, posting a $105MM net loss in Q2—the company's first in two years
- “Over the past several months, we have continued to assess the strategic priorities for Farfetch, and it is clear that the Farfetch Marketplace has always been the core of our offering and will be the priority focus going forward,” said Stephen Eggleston, CCO, Farfetch
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