WALMART ON THE PROWL TO BOOST WEB EXPERTISE: The retailer, which has become one of the most voracious dealmakers in tech, said it would buy social marketplace Luvocracy through its @WalmartLabs research and development arm.
AMAZON’S INDIAN INVESTMENT: Amazon.com Inc. said it will invest a further $2 billion in India just a day after the country’s largest e-tailer Flipkart attracted $1 billion of fresh funds, raising the stakes in a nascent, but fast-growing, e-commerce sector.
AD SALES DRIVE TWITTER REVENUES: Twitter Inc. showed that it was gaining ground as an advertising platform with second-quarter sales that shot up 124 percent to $312.2 million, easily outpacing expectations.
SNAPCHAT SAID IN FINANCING TALKS WITH ALIBABA: Snapchat, an app that lets users send messages that disappear after a few seconds, was said to be in talks with investors, including Alibaba Group Holding Ltd, for financing that could value the company at $10 billion.
COMPETING IN CHINA: Alibaba, which is preparing for its multibillion-dollar initial public offering later this year, might be the undisputed e-commerce leader in China — but it’s not the only player in the market. There are a number of fast-growing competitors populating the country’s vast e-commerce landscape.
CHRIS BURCH TALKS BAUBLEBAR INVESTMENT: Jewelry e-commerce player Baublebar raised $10 million in a Series B financing, with Christopher Burch’s Burch Creative Capital leading the investment.
CROWDFUNDING WEB SITES TAKE AIM AT FASHION INDUSTRY: While crowdfunded projects flourish in categories such as movies and video gaming, fetching up to $40 million per business idea, fashion-related undertakings have proven less of a money-spinner.