article thumbnail

Poshmark Files For IPO After Posting Record Profits

PYMNTS

Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We We only recently became profitable and have experienced net losses. Security and Exchange Commission (SEC). . million in 2018 and a net loss of 48.7

article thumbnail

Alibaba eCommerce Rival Pinduoduo Secures $1B In Funding

PYMNTS

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

eCommerce Co Jumia Files US IPO

PYMNTS

Pan-African eCommerce company Jumia filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE) on Tuesday (March 12). Securities and Exchange Commission (SEC) documents, and by speaking with CEO Sacha Poignonnec. Though Jumia has not turned a profit so far, the company generated €93.8

article thumbnail

FTC: Millennials Report Losing $71M To eCommerce Fraud In Two Years

PYMNTS

In addition, millennials are more likely to report fraud losses on scams that promise to fix debt-related problems or that promise money through jobs, investments or business opportunities. The average loss was $600. However, millennials have reported losing nearly $450 million to fraud in just the past two years.

article thumbnail

Petco Files For IPO As Demand For Pets Surges During Pandemic 

PYMNTS

Securities and Exchange Commission (SEC) on Friday (Dec. The pet retail chain is also moving towards profitability after net losses the past two years. It has also narrowed its losses by 77 percent to $20.3 The Silicon Valley-headquartered company filed an S-1 with the U.S. Same-store sales surged 9.6 percent this year.

article thumbnail

In Online Banking, Spreading The Message Of Secure Messaging

PYMNTS

Yet, he noted, banks build into their profits margin an allowance for payments fraud, functioning almost like a loan loss reserve. And though the web may offer convenience, it offers not much in the way of security. Security only works if both ends are using the network — and the world is a big place with lots of banks.

article thumbnail

The Connected Economy’s 10 Biggest US IPOs Of 2020

PYMNTS

The company also reported a $23 million profit for the second quarter — its first black ink in history. For instance, the company’s S-1 filing showed that net losses attributable to common shareholders rose to $176 million through 2020’s first nine months – way up from just $12 million during the same period last year.