SAN FRANCISCO (Reuters) – Amazon.com Inc (AMZN.O: Quote, Profile, Research, Stock Buzz) reportedly agreed on Monday to buy mapping startup UpNext, the latest sign of increased competition between the world’s largest Internet retailer and tech rivals such as Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) and Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz).
GigaOM reported that UpNext Founders Raj Advani, Vik Advani, Robin Har and Danny Moon will move from New York to Seattle, where Amazon is based, to lead the e-commerce company’s mapping efforts.
SAN FRANCISCO, July 2 (Reuters) – Groupon Inc
Chairman Eric Lefkofsky said on Monday he is stepping back from
hands-on, operational involvement in the world’s largest daily
deal company to focus more on his venture capital firm
Lefkofsky wrote in his personal blog that he looks forward
to continuing to work with Groupon Chief Executive Andrew Mason
as chairman of Groupon’s board of directors.
SAN FRANCISCO (Reuters) – The Securities & Exchange Commission quizzed Facebook Inc on the impact of growth in mobile users in the months leading up to the social network’s initial public offering, letters released on Friday by the regulator show.
“Assuming that the trend towards mobile continues and your mobile monetization efforts are unsuccessful, ensure that your disclosure fully addresses the potential consequences to your revenue and financial results rather than just stating that they ‘may be negatively affected,’” the SEC wrote in a February 28 letter to Facebook Chief Financial Officer David Ebersman.
CHICAGO (Reuters) – Krishan Agarwal, president of online luxury watch vendor Melrose.com, told a roomful of attentive Internet retailers last week how Facebook had helped his company generate about 25 percent more sales in two years.
Then he dropped a bombshell: Melrose spent less than $1,500 on Facebook ads during that time. Everything else the company did with Facebook was free.
SAN FRANCISCO (Reuters) – Groupon Inc is speeding up payments to some merchants in Europe as the world’s largest daily deal company gets more comfortable running repeat offers in more mature markets, according to Chief Financial Officer Jason Child.
The shift, which has been happening gradually over recent quarters, may be considered a negative trend by some analysts because it could reduce the amount of cash Groupon has to fund operations and growth.
PayPal, eBay’s online payments business, is online, heading offline and hopes to be on your TV soon.
PayPal announced partnerships with Comcast and Tivo on Tuesday that aim to get viewers shopping during commercial breaks, pauses and at the end of shows. The projects are in development stages right now, but the goal is to have the services up and running later this year.
CHICAGO, June 7 (Reuters) – Gilt Groupe’s main daily-deal
business is profitable and the online fashion retailer is
“doubling down” in this area, while eyeing overseas growth
opportunities, co-Founder Alexis Maybank said on Thursday.
Gilt, which raised $138 million in May 2011 from investors
including Japan’s Softbank, Goldman Sachs and
General Atlantic, is not looking for new funding anytime soon,
CHICAGO, June 7 (Reuters) – Google Inc is dipping
its toe into the customer-service business as the world’s
largest Internet search company steps up competition with
e-commerce giant Amazon.com Inc.
Google rolled out a new certification service called Google
Trusted Stores on Thursday that helps shoppers see which online
merchants ship quickly and reliably and which ones offer great
SAN FRANCISCO (Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) is seeing a sales lift from new efforts to get more shoppers buying online while still visiting physical stores, Joel Anderson, chief executive of Walmart.com, the ecommerce arm of the world’s largest retailer, said on Wednesday.
Wal-Mart launched Pay with Cash in late April, allowing customers to order on its website and pay at a store within 48 hours.
SAN FRANCISCO, June 5 (Reuters) – In the aftermath of the
Facebook IPO, investor outrage – and lawsuits – have focused on
“whisper” estimates of future results that underwriters shared
only with some clients.
The selective disclosures appeared to expose a regulatory
loophole, and some bankers and securities lawyers now say relief
could come from a surprising quarter.