July has been an interesting month in the world of eCommerce. From raising astounding funding amounts to an online marketplace shutting down, launching of a new free entrepreneurial training tool to the introduction of a smart AI copywriting tool, this month packs an interesting punch. Read more below.
China’s social eCommerce platform, Pinduduo, went public this month
The Shanghai-based eCommerce company went public raising a staggering $1.6 billion in what is one of the highest value deals of the year. Pinduduo has successfully managed to sustain and grow in China’s supremely competitive eCommerce market and boasts of 195 million monthly users. Read more here.
German marketplace, DaWanda shuts down
German online marketplace, DaWanda will shut down after twelve years of operations on the 30th of August. DaWanda wasn’t able to grow and scale on their own and have thus entered into an agreement with their US-based competitor, Etsy.com. Read more here.
Shopify launches a free training platform with Shopify academy
Shopify is on a mission to offer free, online training for budding eCommerce and retail entrepreneurs. Business owners will get access to a host of business building advice and insights from other online store owners. Read more here.
Selling on Alibaba? Use its AI copywriting tool to generate product copy
Alibaba’s new AI (artificial intelligence) tool to help merchants and sellers to efficiently craft product information without having to hire a content specialist. The Chinese eCommerce giant claims that their new tool can produce up to 20,000 lines of content every second. Read more here.
Instagram launches IGTV that allows users and brands to upload hour long videos
Photo-sharing app Instagram has taken its visual engagement platform a step further with the introduction of IGTV. This feature allows Instagram users and brands to upload longer videos spanning an hour. Talk about capitalizing ad revenues! Read more here.
Walmart’s first chief customer officer will be critical in bridging physical retail and eCommerce
Janey Whiteside will join Walmart on Aug. 1 in the newly created role of chief customer officer. The mega-retailer is looking to bridge the gap between its physical operations and eCommerce business. Read more here.
Resource of the month: OSTraining
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