Recent stories about E Commerce

An Instacart shopper holds his badge. Photo by Shutterstock.

Instacart Plans Small-Business Service, Taking Aim at Amazon and Walmart

By Theo Wayt · Feb. 14, 2023 2:01 PM PST

Instacart is gearing up to launch a version of its site tailored to small businesses, a person familiar with the matter said, representing a challenge to Amazon and Walmart as the delivery giant looks to boost revenue ahead of potentially going public. The small-business offering, which the company is developing under the name Instacart... Instacart is gearing up to launch a version of its site tailored to small businesses, a person...

Photo by Getty

Creator Economy

startups entertainment

TikTok’s Growth Hacking Includes Paywalled Video

By Kaya Yurieff · Feb. 13, 2023 2:00 PM PST

At the end of last year, it felt like creator funds were a thing of the past, as companies such as YouTube shifted to other initiatives, such as ad-revenue sharing, and shut down funds that made payouts for viral videos. But that’s not the case at TikTok. As I reported in a story on Monday, the short-form video app is working on a new version,... At the end of last year, it felt like creator funds were a thing of the past, as companies such...

Serena Williams partnering with Tonal. Photos by Tonal.

startups e-commerce

Home Gym Maker Tonal Looks for Buyer After Burning Through Cash

By Maria Heeter, Ann Gehan and Cory Weinberg · Feb. 10, 2023 8:50 AM PST · 3 comments

Tonal, a celebrity-backed home fitness startup that saw its valuation balloon to $1.6 billion in 2021, has explored options including a sale, two people familiar with the matter said. Tonal—an even more upmarket alternative to Peloton—burned through cash last year after spending heavily on hiring, opening bricks-and-mortar showrooms... Tonal, a celebrity-backed home fitness startup that saw its valuation balloon to $1.6 billion in...

Amazon executive chairman Jeff Bezos. Art by Mike Sullivan

How Amazon’s Bricks-and-Mortar Dreams Hit a Wall

By Theo Wayt and Nick Wingfield · Feb. 3, 2023 6:09 AM PST · 2 comments

Amazon executive chairman Jeff Bezos. Art by Mike Sullivan

e-commerce amazon

How Amazon’s Bricks-and-Mortar Dreams Hit a Wall

By Theo Wayt and Nick Wingfield · Feb. 3, 2023 6:09 AM PST · 2 comments

If Amazon’s ambitious vision for becoming a power in bricks-and-mortar retail had gone to plan, last month would have been a big milestone for the company. As recently as late 2021, Amazon had set January 2023 as the target date for a ribbon-cutting ceremony for its first ever big-box store. It would have been a bit smaller than a Target... If Amazon’s ambitious vision for becoming a power in bricks-and-mortar retail had gone to...

Photo by Bloomberg.

e-commerce amazon

Amazon’s No-Fly Zone: Drone Delivery Largely Grounded Despite Splashy Launch

By Theo Wayt · Feb. 1, 2023 11:04 AM PST · 2 comments

Amazon in December announced with great fanfare that, after nearly a decade of work, it had finally launched drone delivery in the U.S., in two towns in California and Texas. But by mid-January, Amazon Prime Air had made deliveries to fewer than 10 houses, according to people who worked on the project. Despite what Amazon has said publicly about... Amazon in December announced with great fanfare that, after nearly a decade of work, it had...

Photos by Bloomberg

Stripe’s Trajectory Has Echoes of Uber; BuzzFeed’s AI-Fueled Rally

By Martin Peers · Jan. 30, 2023 5:00 PM PST

Once upon a time, there was a private tech company that bankers thought could be worth as much as $120 billion when it went public. Its potential initial public offering was described in news reports like this one in 2018 as the “most hotly anticipated on Wall Street and Silicon Valley.” Today, it’s worth only about $60 billion. Can you guess... Once upon a time, there was a private tech company that bankers thought could be worth as much as...

Nate CEO Albert Saniger. Art by Shane Burke.

startups e-commerce

Coatue-Backed ‘AI’ Shopping Startup Nate Has Slashed Most Staff and Disabled Key Features of its App

By Ann Gehan · Jan. 27, 2023 1:46 PM PST · 1 comment

Nate, the shopping app that drew attention last year for overstating its use of artificial intelligence technology to power its transactions, has stopped processing payments on its app and has cut most of its workforce, according to three people directly familiar with the matter. The moves suggest Nate is poised to become the latest casualty... Nate, the shopping app that drew attention last year for overstating its use of artificial...

Stripe CEO Patrick Collison. Photo by Bloomberg. Art by Mike Sullivan.

‘We Haven’t Won Yet’: Stripe Finds Growth Has a Cost

By Cory Weinberg, Maria Heeter and Becky Peterson · Jan. 27, 2023 11:09 AM PST

Stripe CEO Patrick Collison. Photo by Bloomberg. Art by Mike Sullivan.

‘We Haven’t Won Yet’: Stripe Finds Growth Has a Cost

By Cory Weinberg, Maria Heeter and Becky Peterson · Jan. 27, 2023 11:09 AM PST

Last fall, executives at payments giant Stripe gave employees an unusual warning: Look out for watermelons. The company had just scuttled a crucial project called Sonic, which was supposed to rewrite significant pieces of Stripe’s code in part to speed up transactions—an important step to reduce cloud computing costs and boost profit... Last fall, executives at payments giant Stripe gave employees an unusual warning: Look out for...

Art by Mike Sullivan.

e-commerce crypto

What Went Wrong at Wyre, the Crypto Payments Startup That Went From $1.5 Billion Deal to Last-Ditch Rescue

By Aidan Ryan · Jan. 27, 2023 6:00 AM PST · 2 comments

In early May, crypto startup Wyre rented out three houses in Arizona for an offsite for its product and engineering teams. Executives arranged a tour of the Grand Canyon nearby and rented all-terrain vehicles to ride around the area, one person who attended told The Information. There was good reason to celebrate: Weeks before, checkout startup... In early May, crypto startup Wyre rented out three houses in Arizona for an offsite for its...

Patrick Collison, CEO of Stripe. Photo by Bloomberg.

Stripe Plans to Go Public in Next Year or Make a Deal to Resolve Employee Stock Squeeze

By Cory Weinberg, Becky Peterson and Jessica E. Lessin · Jan. 26, 2023 8:05 AM PST · 1 comment

Stripe plans to either go public or make a deal that will allow employees to sell stock within the next year, the company told employees and investors Thursday, moves that would be aimed at easing a looming stock crunch for some veteran employees. The company is considering both a direct listing and a private-market transaction that would give... Stripe plans to either go public or make a deal that will allow employees to sell stock within...

Photo by Getty Images

asia media/telecom

VC’s $8 Billion ByteDance Headache

By Jessica E. Lessin · Jan. 17, 2023 5:00 PM PST · 2 comments

Amid all the crises venture capitalists are facing, there’s one that deserves more attention and it centers on a number: $8 billion. That's roughly the amount of money investors like Sequoia, Susquehanna International Group, Coatue Management and Tiger Global Management have poured into TikTok owner ByteDance—money that is largely locked up... Amid all the crises venture capitalists are facing, there’s one that deserves more attention and...

A ByteDance employee at the entrance to a ByteDance office in Beijing. Photo by Getty Images.

TikTok’s E-Commerce Management Structure Undercuts Claims of Autonomy From China

By Juro Osawa · Jan. 17, 2023 6:00 AM PST · 2 comments

A ByteDance employee at the entrance to a ByteDance office in Beijing. Photo by Getty Images.

TikTok’s E-Commerce Management Structure Undercuts Claims of Autonomy From China

By Juro Osawa · Jan. 17, 2023 6:00 AM PST · 2 comments

The new head of TikTok’s important push into e-commerce in the U.S. answers directly to a boss at the app’s Chinese owner, ByteDance, bypassing TikTok’s own CEO. The previously unreported structure could undercut TikTok’s efforts to convince Washington lawmakers that it can operate independently from ByteDance. Sandie... The new head of TikTok’s important push into e-commerce in the U.S. answers directly to a...

Clearco's departing CEO, Michele Romanow, in 2019. Photo by Bloomberg

CEO of SoftBank-Backed Clearco Resigns as Onetime Fintech Darling Cuts Staff

By Jon Victor · Jan. 15, 2023 4:49 PM PST · 6 comments

The CEO of Clearco, which provides capital to e-commerce businesses in exchange for a cut of future revenue, has resigned the post, according to a person with direct knowledge of the situation. The departing leader, Michele Romanow, co-founded Toronto-based Clearco in 2015 and is one of Canada’s most prominent entrepreneurs. She is being... The CEO of Clearco, which provides capital to e-commerce businesses in exchange for a cut of...

Photo by Bloomberg

e-commerce google

What’s Google Cloud So Worried About?

By Jessica E. Lessin · Jan. 12, 2023 5:03 PM PST

What is going on at Google Cloud? Today, Jon, Kevin and Amir had an important story about an executive shakeup involving the departure of Google’s top sales executive in the U.S., Kirsten Kliphouse. You may recall that Google Cloud, after 10 years of trying, is still a distant second to Amazon and Microsoft in the business. Google didn’t... What is going on at Google Cloud? Today, Jon, Kevin and Amir had an important story about an...

Stripe's Bay Area office. Photo by Bloomberg.

Stripe Cuts Internal Valuation by 11%, Implying $63 Billion Valuation

By Maria Heeter · Jan. 11, 2023 5:04 PM PST · 13 comments

Stripe has cut the internal value of its shares by about 11%, implying a valuation of $63 billion, according to a person familiar with the matter. It’s at least the third time since June that the payments startup has cut its internal valuation, following a smaller cut in October, and brings the total reduction to about 40% in the past six... Stripe has cut the internal value of its shares by about 11%, implying a valuation of $63...

ByteDance's Beijing headquarters. Photo by Getty.

TikTok Parent ByteDance’s E-Commerce Volume Surged in 2022, Internal Data Show

By Juro Osawa · Jan. 9, 2023 2:13 PM PST

ByteDance's Beijing headquarters. Photo by Getty.

TikTok Parent ByteDance’s E-Commerce Volume Surged in 2022, Internal Data Show

By Juro Osawa · Jan. 9, 2023 2:13 PM PST

TikTok’s Chinese parent company, ByteDance, is making inroads in e-commerce. Consumers in China last year spent 1.41 trillion yuan, or $208 billion, buying things on ByteDance’s Douyin video app, the Chinese equivalent of TikTok, an increase of 76% from 2021, according to two people with knowledge of the internal data. Meanwhile,... TikTok’s Chinese parent company, ByteDance, is making inroads in e-commerce. Consumers in...

Photo via Bloomberg.

Amazon’s Cuts Were Inevitable After Years of Excessive Spending

By Martin Peers · Jan. 5, 2023 5:00 PM PST · 2 comments

It’s a bleak moment for the retail sector. Today brought word that home goods chain Bed Bath & Beyond has “substantial doubt” about its “ability to continue as a going concern,” given how much money it has been losing. Another retailer, Everlane, is cutting 17% of its corporate staff, we scooped today. Meanwhile, Amazon on Wednesday said it... It’s a bleak moment for the retail sector. Today brought word that home goods chain Bed Bath...

Photo by Bloomberg.

Everlane Slashes 17% of Corporate Employees, Cuts Store Staff

By Ann Gehan · Jan. 5, 2023 2:17 PM PST · 1 comment

Sustainable clothing brand Everlane is the latest direct-to-consumer company to slash jobs as the sector grapples with declining e-commerce sales volumes and rising digital marketing costs. The company announced the cuts internally on Wednesday via an email message and a companywide Zoom meeting, saying they would affect around 17% of... Sustainable clothing brand Everlane is the latest direct-to-consumer company to slash jobs as the...

Photos via Bloomberg, Getty Images and Alexis Ohanian.

startups venture capital

The Information’s Best Stories of 2022

By The Information Staff · Dec. 30, 2022 6:00 AM PST · 1 comment

The year 2022 upset so much in tech: Cash stopped flowing, sobriety replaced frenzy and crypto fell off a cliff. Startups buoyed by the record funding boom came apart at the seams, from e-commerce startup Fast to crypto exchange FTX. In between, Elon Musk ruled the internet and even took over our dreams. Say what you will about 2022, it sure did... The year 2022 upset so much in tech: Cash stopped flowing, sobriety replaced frenzy and crypto...

Art by Shane Burke/Getty Images.

Amazon Has Discussed a Stand-Alone Sports App as Andy Jassy Doubles Down on Prime Video

By Theo Wayt and Martin Peers · Dec. 28, 2022 6:00 AM PST · 3 comments

Art by Shane Burke/Getty Images.

e-commerce media/telecom

Amazon Has Discussed a Stand-Alone Sports App as Andy Jassy Doubles Down on Prime Video

By Theo Wayt and Martin Peers · Dec. 28, 2022 6:00 AM PST · 3 comments

Amazon has discussed doing a stand-alone app for watching sports content, people briefed on the conversations told The Information. The move comes as CEO Andy Jassy doubles down on the company’s streaming ambitions. While one of those people said the company hasn’t made a decision about whether to proceed on the effort, the... Amazon has discussed doing a stand-alone app for watching sports content, people briefed on the...

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