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Poshmark Files For IPO After Posting Record Profits

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Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We We only recently became profitable and have experienced net losses. The Silicon Valley startup posted a net loss of $14.5 million last year.

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Ant Financial Posts Rare Quarterly Loss

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Ant Financial , the Chinese FinTech giant and an affiliate of Alibaba Group , posted an earnings pre-tax loss of 2.4 The Wall Street Journal ( WSJ ), citing Ant, reported that the company had a pre-tax profit of 5.3 Alibaba blamed the loss on increased investments to capture growth. It posted 9.18

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When Will Profits Hitch A Ride With Uber And Lyft?

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However, Uber’s revenue increased only 2 percent between Q3 and Q4, reaching $3 billion, a 24 percent increase over the previous year — leading some investors to question the ridesharing firm’s future prospects for profitability. Losses came in at $1.8 billion in losses reported at the same time in 2017.

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Pinduoduo Aims To Raise Up To $5.6B To Boost Online Grocery Shopping

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Chinese eCommerce platform Pinduoduo plans to raise up to $5.6 billion to invest in its one-day delivery service of farm goods across China, among other projects. As most Chinese consumers tend to shop daily for groceries, online grocery shopping has become an increasingly attractive investment for internet companies in the region.

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Are Private Labels The Key To Cracking The Profitability Indian eCommerce?

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And expectations for eCommerce are swelling accordingly. But how to harness and tap into those great expectations profitably? Having been largely shut-out of eCommerce in China by Alibaba – Amazon has made no secret of its intention of doubling down on India. Flipkart reported a net loss of 87.71

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Sneaker Sales Propel 3Q Surge In Under Armour Earnings

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Sportswear giant Under Armour reported a third-quarter profit of $38.9 Patrik Frisk, president and CEO of Under Armour, told The Baltimore Sun that the company is focused on returning to profitability and is planning to invest in eCommerce and company-owned retail outlets. . The deal is valued at up to $345 million.

Sales 87
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Rakuten Dumps $1.4B In Tech Holdings, Including Pinterest Stake

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Rakuten , the Japanese eCommerce conglomerate, has sold billions of dollars’ worth in shares, including the entirety of its stake in Pinterest. Rakuten’s sales come on the heels of its operating loss of 40 billion yen, or $360 million, last quarter.