Seattle startup Flexe raises $70M as e-commerce rise fuels demand for flexible warehousing platform

The Flexe team, pre-pandemic. (Flexe Photo)

Flexe is raising more capital ahead of schedule as the pandemic-driven e-commerce boom spurs faster-than-expected growth for its warehousing technology platform.

The Seattle startup announced a $70 million Series C round led by new investor T. Rowe Price, with participation from existing backers Activate Capital, Tiger Global, Madrona Venture Group, Redpoint Ventures, Prologis Ventures, and others. Total funding to date in the 6-year-old company is $134 million.

Flexe originally planned to raise another round sometime next year. But investors were ready to put more fuel into the business given its recent metrics.

“Flexe is poised to become an impactful company in the logistics industry for the long term,” Andrew Davis, director of private investments at T. Rowe Price, said in a statement. T. Rowe Price recently led a $2.5 billion round in electric car maker Rivian and was an early backer of Facebook, Twitter,

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The Luxury E-Commerce Wars Heat Up

According to Mr. Cohen, the brand had received “messages from customers asking why such expensive pieces were selling on Amazon.”

Yet going it alone is also increasingly untenable. LVMH Moët Hennessy Louis Vuitton, the largest luxury group in the world, has publicly rejected the idea of working with Amazon, but even its proprietary solution — the wholesale platform 24 Sèvres, created in 2017, with an exclusive arrangement with Dior and Céline — has not gotten meaningful traction with consumers, and it continues to lose money. (The group also made a multimillion-dollar investment in Lyst in 2018.)

“The term ‘platform’ is intoxicating at first blush, but at second, it’s a license to spend tens of billions of dollars before you see any return,” Mr. Galloway, the New York University professor, said.

Enter the Farfetch alliance.

Farfetch, which went public in 2018, has a business model that includes an

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SEC alleges Benja CEO duped investors to fund a non-existent e-commerce empire

The US Securities and Exchange Commission (SEC) has charged e-commerce startup Benja and its CEO for allegedly defrauding investors.

According to charges made public on Monday, the US agency believes the San Francisco-based firm — together with its co-founder and chief executive Andrew Chapin — fabricated an e-commerce empire by “misleading investors about purported contracts with well-known consumer brands.”

SEC’s complaint alleges that from 2018 to the present year, 32-year-old Chapin told investors that the startup had secured deals with popular clothing retailers and brands including Nike and Patagonia. To give these claims weight, the executive allegedly enlisted others to impersonate these ‘customers’ and their representatives.

“In reality, Benja never did business with the companies,” the agency says.  

One of the individuals involved in the scheme apparently also pretended to be a founder of a venture capital fund that made a “large” investment in the startup. 

See also: Former Amazon

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Mobile E-commerce Startup Wish Files IPO, Claims 108 Mn Users

The operator of the mobile e-commerce startup Wish filed documents for a share offering Friday, revealing a user base of more than 100 million.

The filing by US-based parent firm ContextLogic said the platform is looking to expand the business which up to now has been connecting merchants based mainly in China with consumers around the world.

Wish’s initial public offering (IPO) filing said it was the most downloaded shopping app and operated in more than 100 countries, having shipped more than 640 million items.

The startup said it had 108 million monthly active users at the end of September. It posted a loss of $120 million in the past quarter on revenue of $1.7 billion.

Wish’s most recent valuation based on funding rounds was $11.2 billion, but the Financial Times said the company is aiming for a richer value in the IPO of $25 billion to $30 billion. .

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EY joins forces with Zilker Technology to enhance eCommerce, enterprise integration and cloud engineering services

More than 360 new team members across four countries join EY

TORONTO, Nov. 18, 2020 /CNW/ – EY is excited to welcome team members from Zilker Technology to our Digital and Emerging Technologies group in the US, Canada, Serbia and India to elevate the firm’s global eCommerce, enterprise integration and cloud engineering capabilities. 

“Companies are under immense pressure to embrace new operating models and ways of working to transform for the future,” says Linda Williams, EY Canada Managing Partner, Consulting. “Zilker’s design, strategy and engineering experience will enhance how we deliver end-to-end digital transformations to help our clients unlock long-term value and thrive in the Transformative Age.”

Zilker offers the unique ability to integrate enterprise technology with customer-centric experiences, aligning the user experience at every customer touchpoint to improve targeting and brand identity — critical components to success in an increasingly competitive virtual environment according to 32%

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3 Strategies To Grow Your Ecommerce Fashion Brand in 2021

7 min read

Opinions expressed by Entrepreneur contributors are their own.

In the increasingly competitive world of fashion ecommerce, one thing is certain — the industry is set for meteoric growth. 

Despite the coronavirus impacting global supply chains, the online fashion e-commerce market is still slated to grow at a CAGR of 11.5 percent for the next three years, largely due to an increase in online spending and improved consumer choice. 

This represents an opportunity for ecommerce fashion brands to knuckle-down and ramp up marketing to capitalize on this growth and enter 2021 in a position of strength. 

Focus on a clear mission and vision

Let’s face it. The vast majority of fashion brands look to achieve mass-market appeal by offering a large product range that targets a wide range of customers. However, though this is certainly possible for large brands with well-established design, manufacturing and distribution

Read More’s E-Commerce Sales Surge As 100 Million New Users Sign Up, Health Business Gets Closer To Listing

Boasting a better growth rate than Amazon
in the three years to 2019, China’s said today that over 100 million new active users had joined its platform compared to a year ago. This pushed up total user accounts by a third to 442 million by September, setting the company up for continued sales expansion into 2021.

The comparison of home market performance between the two e-commerce giants shows that has led Amazon by two percentage points in CAGR sales growth—31% versus 29%—in recent years. In the third quarter, the Chinese company’s net revenue climbed by 29% year-over-year to reach RMB174.2 billion ($25.7 billion).

Subscribers of JD Plus, the company’s paid membership program also exceeded 20 million in October helped by an expanded range of offerings including

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Shopping Malls Hope to Find New Life Fueling E-Commerce

Mall operators, faced with a sharp downturn in foot traffic, are looking into the viability of converting empty commercial space into mini-fulfillment centers for their remaining retail tenants, technology vendors and analysts say.

“It’s a very real possibility,” said Max Pedro, president and co-founder of logistics technology maker Takeoff Technologies Inc. Mr. Pedro says at least one of the company’s clients, a large European mall landlord with hundreds of locations, is considering the strategy. He declined to name the client.

Malls have several advantages over outside, third-party fulfillment and logistics providers, including ready-made warehouse-sized spaces, central locations and a roster of on-site retailers, Mr. Pedro said: “It would be a huge missed opportunity.”

The pandemic has dealt a crushing blow to large mixed-retail malls, which were already struggling before the

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Dutchie Seeks To Become The ‘Shopify For Cannabis’ With New e-Commerce Offering

Dutchie, an e-commerce tech company for cannabis industry, is launching a new enterprise-level solution that seeks to provide dispensaries with the ability to create completely customized e-commerce experiences for their customers — this is according to information procured exclusively ahead of an official announcement.

Dubbed Dutchie Plus, the platform aims to establish itself as “the Shopify Plus for cannabis,” the company says.

In an exclusive interview, co-founder and chief product officer Zach Lipson explained the product responds to the cannabis industry’s rapid growth.

“Innovative and progressive multi-state operators and larger dispensaries are looking to take their online experience to the next level. Particularly, in a direction that’s fully on-brand and designed to match the uniqueness of their stores,” he declared.

See also: Carlos Santana Talks Cannabis: ‘It’s All About Consciousness, Man’

This is where Dutchie Plus comes in, providing retailers with a set of APIs to customize

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SK Telecom and Amazon enter equity deal for ecommerce boost

SK Telecom and Amazon said on Monday that they have entered into an equity participation agreement to collaborate on the growth of the carrier’s ecommerce business.

Under the deal, Amazon products will become available on 11th Street, an online shopping subsidiary under SK Telecom.

The US ecommerce giant will also get preemptive rights over shares of 11th Street, dependent on business performance. The precise terms of the deal have not been revealed.

Amazon and 11th Street will announce the specifics of their new collaborative service at a later date when they are ready, SK Telecom said.

The telco added it hopes to grow 11th Street into a global distribution hub platform that can also help South Korean sellers reach the global market.

Meanwhile, Amazon said 11th Street shared its “customer obsession” and expected the collaboration to offer a differentiated experience for South Korean consumers.

The deal between the US ecommerce

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