Slope has secured $30 million in an equity round to scale its artificial intelligence (AI)-powered payments platform for B2B businesses. The round was led by Union Square Ventures, and there was participation from Sam Altman, CEO of OpenAI, Slope said in a Wednesday (Sept. 27)...
Thrasio, a prominent eCommerce startup specializing in acquiring consumer brands sold on Amazon, is reportedly grappling with financial difficulties following a decline in online spending in the wake of the COVID-19 pandemic. To tackle this issue, the company is actively exploring restructuring options and has...
The United States Justice Department has filed a complaint against eBay, accusing the online marketplace of unlawfully selling and distributing products that violate environmental regulations. The complaint, filed on behalf of the U.S. Environmental Protection Agency (EPA), alleges that eBay violated the Clean Air Act (CAA), the Federal Insecticide, Fungicide,...
Visa has teamed with Lloyds Bank to launch a virtual card solution for businesses. “Available now to Lloyds Bank customers, Visa Commercial Pay addresses businesses’ payments and purchasing administration challenges, such as controlling spend, simplifying processes, reconciling invoices, and reporting on expenditure,” the company said in a news release Wednesday...
Bloomreach has enhanced its eCommerce search solution with group merchandising and other new features that specifically cater to B2B merchandisers. These updates to Bloomreach Discovery aim to give merchandisers greater control in optimizing the eCommerce experience for their customers, the company said in a Wednesday (Sept. 27) press release....
Revio, a payment orchestration platform, secured $5.2 million in a seed round to tackle the challenges and opportunities in the African payment ecosystem. The funding will be used to expand Revio’s coverage across Africa, enhance its routing logic, and attract talent from the continent and...
Costco has built its reputation on value-based bulk deals, and it’s an offering that keeps shoppers flocking to its stores. This deep-seated sentiment is confirmed by the retailer’s confidence, as evidenced during its recent fourth-quarter earnings call on Tuesday (Sept 26). Costco announced that its...
Weather can exert an influence on consumer purchasing choices, a phenomenon vividly illustrated by the advisory released by the online fashion giant ASOS in relation to its recent financial performance. ASOS saw a 16% decline in U.K. sales during the last quarter, primarily due to the...
Target is blaming an apparent wave of shoplifting for the closure of nine of its stores. The retailer is shuttering locations Oct. 21 in New York City; San Francisco; Seattle; and Portland, Oregon, according to a Tuesday (Sept. 26) press release. “In this case, we...
