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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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eCommerce Eroding Traditional Retail Metrics

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The study is a companion piece to a May 2016 study that found that efforts to beef up digital commerce capacity were both eroding in-store sales and eating up profitability. The expansion in the numbers of stores is also lowering sales-per-store figures, and selling online is incredibly expensive for retailers.

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Alibaba eCommerce Rival Pinduoduo Secures $1B In Funding

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Chinese upstart eCommerce site Pinduoduo (PDD) is raising more than $1 billion to help compete with Chinese giants like Alibaba and JD.com, according to reports. The company puts a twist on the traditional eCommerce playbook by offering a social aspect – shoppers who team up with friends or family can get discounts by making group orders.

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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.

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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 But a China-based analyst told the Financial Times that while the Chinese were frequent shoppers of agricultural goods, which would help boost Pinduoduo’s user numbers, the business was low-margin. Last week, the company reported a third-quarter net loss of $115.6

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FedEx Eyes Stake In Germany’s Hermes Delivery Service

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FedEx has been seeing an upheaval of its business and may have to tap into debt to make up for the dearth of the usual high-profit business shipments. The Memphis-based delivery company has instead seen a massive upswing in low-margin personal home deliveries as people start to shift to eCommerce during the pandemic.

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eCommerce Co Jumia Files US IPO

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Pan-African eCommerce company Jumia filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE) on Tuesday (March 12). We’re really focused on growing our existing business, leadership position, number of sellers and consumer adoption in those markets,” Poignonnec said. Reports confirmed the news via U.S.