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Alibaba eCommerce Rival Pinduoduo Secures $1B In Funding

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Chinese upstart eCommerce site Pinduoduo (PDD) is raising more than $1 billion to help compete with Chinese giants like Alibaba and JD.com, according to reports. The company puts a twist on the traditional eCommerce playbook by offering a social aspect – shoppers who team up with friends or family can get discounts by making group orders.

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Retail Sales Numbers Predict A Cruel April

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With some analysts estimating a 4 to 24 percent drop the number was surprisingly low. While the overall number broke records on the negative side, binge-buying put food and beverage at a record 25.6 However, the unprecedented nature of the COVID-19 crisis make these numbers difficult to act on. Overall sales fell 8.7

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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

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eCommerce sales tax laws are having unintended consequences in the tobacco industry. State governments began rolling out economic nexus laws after 2018’s South Dakota vs. Wayfair ruling. It appears that economic nexus laws are falling short of leveling the playing field in at least one niche industry, however.

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Today In Payments: Default Fears Mount As China’s Banks Encourage Loans; Goldman, Morgan Stanley Predict Economic Devastation

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In today’s top news, state-owned financial institutions in China are offering incentives to boost consumer lending, and economists at Goldman Sachs and Morgan Stanley predict the coronavirus will be economically devastating. Beijing is looking at personal lending as a way out of the economic crisis brought on by the coronavirus.

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How 5G Rollouts May Get Boost from COVID-19

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In the maelstrom of daily life grappling with COVID-19, the rollout of 5G , the fifth-generation network that features downloading speeds reportedly 100 times faster than that of 4G, may accelerate even as economic headwinds gather. And eCommerce, increasingly, is becoming the only way we can shop.

Economics 139
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Affirm Submits Draft To SEC For IPO

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Affirm has announced a filing for an initial public offering (IPO), according to a press release , and the company has submitted a draft to the Securities and Exchange Commission (SEC). The number of shares that will be offered and the price range have not been determined, the release stated.

Valuation 100
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Poshmark Files For IPO After Posting Record Profits

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Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We Security and Exchange Commission (SEC). . The price range and the number of shares being offered have not yet been determined. million in 2018 and a net loss of 48.7