Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes possible new life for a famous retail brand, and news about Amazon’s private-label practices. Facebook offers a hacking update and Foursquare and Truebill snag fresh capital.
The rights to Toys R Us’ name, along with Babies R Us, are controlled by funds that financed the retailer’s lenders during bankruptcy, as that intellectual property was collateral for their loans.
Some users searching for various products in beauty, health and household and baby items have reported seeing the link “Similar item from Our Brands” show up at the bottom of the listing. The link, which is not an advertisement, then takes shoppers to the product page for Amazon’s own private-label offering.
The social media giant said it hasn’t found evidence that the hackers accessed users’ other websites through the Facebook login.
The first close of $25 million in venture funding happened last week, while the secondary close of at least $8 million is expected to happen by the end of the year.
The company also named a new CEO, Haroon Mokhtarzada, who co-founded Truebill with his brothers, Yahya and Idris Mokhtarzada. Launched as a mobile app to get consumers refunds on unwanted subscriptions, Truebill now aims to simplify and automate a consumer’s entire financial life.