Seller wins in eBay’s $9 bln classifieds auction 20 Jul 2020 Norway’s Adevinta, controlled by media conglomerate Schibsted, won the race to buy the U.S. group’s online-listings business, Reuters reported. It may struggle to make a decent return. EBay, however, gets a good price and the chance to gain from likely consolidation in Europe.
Yum China can fill a pricier bucket in Hong Kong 13 Jul 2020 The $19 bln KFC operator is mulling a secondary float in the city. Its New York shares have been whipsawed by Sino-American tensions. An outsize base of U.S.-centric investors, a legacy of its spinoff, could be to blame. Heading East will fetch a more finger lickin’ valuation.
Twitter and Walmart show signs of subscriber envy 8 Jul 2020 Both the social network and the $360 bln retailer are considering offering users extra bells and whistles in return for subscriptions. After all, that has worked for companies like Spotify, Netflix and the New York Times. But it’s not only customers who could end up paying.
Pinduoduo is stuck in startup governance mode 2 Jul 2020 China's e-commerce darling has swapped its founder CEO for the other co-founder. The pair wields supervoting stock and controls the board. The $100 bln company doesn’t even have a CFO or other top executives. They need to upgrade management, but this is an odd way to start.
Corona Capital: Amazon, Car perks, College sports 29 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Companies are trying to bolster pocketbooks. Amazon makes extra payments to employees while car companies are offering major discounts. Plus: Under Armour ditches its UCLA deal.
Corona Capital: Nike, Microsoft and retail pain 26 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Bad news for landlords. Nike’s online sales surged during the lockdown even as stores were mostly closed. Meanwhile, Microsoft is shutting most of its retail outlets — for good.
SoftBank-Alibaba distancing has further to go 25 Jun 2020 Masayoshi Son is leaving the e-commerce group’s board after 15 years. The Japanese group just raised $11.5 bln using some of its Alibaba stake; its valuation discount gives it reason to keep selling. Being a major investor in both U.S. and Chinese firms will also only get harder.
Corona Capital: A tax on martinis 24 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Uncle Sam has bad news for those enjoying the libation during lockdown as it’s putting up import duties on gin, vodka and olives.
Amazon’s climate fund is a worthy sideshow 23 Jun 2020 The $1.3 trln e-commerce giant’s new $2 bln fund could invest in everything from energy storage to farms. Google’s green-energy experience shows even better focused bets often don’t pay off. Investing to deploy existing technology does. Jeff Bezos’ outfit will do that too.
Corona Capital: Payments systems, Shale 22 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Payments systems get some good news, shale oil drilling’s double whammy.
E-commerce boost is about more than Amazon 17 Jun 2020 Lockdowns have trained people to shop online, including for formerly lagging goods like groceries. That has helped Jeff Bezos but even more so digital sales at Walmart and other retailers like Target and Home Depot. The future may be a lot to do with balancing clicks and bricks.
EU’s data harpoon won’t be last shot at Amazon 11 Jun 2020 The European Commission may soon charge Jeff Bezos’s company over the alleged use of data gathered from third-party sellers to unfairly compete against them. Antitrust chief Margrethe Vestager may well already be lining up the next salvo, perhaps targeting Amazon's advertising.
Goldman’s new direction cashes in on its old one 10 Jun 2020 The Wall Street firm’s plan to lend to Amazon vendors takes its consumer aspirations up a notch. Whizzy tech and lack of banking baggage play in its favor. There’s also a whiff of old-school Goldman qualities, like a knack for milking relationships, and supreme self-confidence.
Complacency is as much a disruptor as antitrust 8 Jun 2020 Big Tech critics credit the 1969 push to break up IBM for spurring the today’s software industry. But it was as much Big Blue’s shortsightedness that led to others’ power. As probes of newer tech companies ramp up, Microsoft, with similar challenges, tells a more promising story.
Battle for Russia’s Amazon crown is heating up 5 Jun 2020 The country’s biggest lender Sberbank may buy a 30% stake in online marketplace Ozon after untangling itself from rival Yandex. The deal could value it at more than $2 bln. There’s room for both players in a market enjoying a Covid-19 boost, but the usual political caveats apply.
JD stock sale helps illuminate China’s have-nots 5 Jun 2020 The $70 bln Beijing-based online retailer will be next with a second listing, in Hong Kong. Others are bound to follow, but not all 175 trading on New York exchanges can access this safety valve from a U.S. backlash. Some may need to go private and hibernate for a while.
Amazon steers towards self-driving leverage 28 May 2020 Jeff Bezos’s $1.2 trln behemoth is one of the obvious big buyers of autonomous vehicles. Acquiring startup Zoox would give it an even bigger say in how the technology gets rolled out. That would also help deepen its customers’ dependence on Amazon’s fast and cheap shipping.
Meituan Dianping cooks up some tasty scraps 25 May 2020 Covid-19 hit China’s $83 bln takeaway-to-taxis company, whose quarterly sales fell 13%. The outlook is shaky, but more restaurants have signed up and new initiatives like contactless delivery should provide value longer-term. Merging Western peers are in comparative disarray.
Alibaba may be China’s secret stimulus weapon 22 May 2020 The e-commerce firm is benefiting as millions of shoppers turn online - quarterly sales rose 22% to $16 bln. But overall domestic demand is weak and Alibaba has been handing out subsidies to kickstart businesses. That makes the $569 bln giant ideally suited to revive consumption.
Walmart deserves credit for toilet-paper readiness 19 May 2020 Its biggest rival Amazon is still better at delivery services, which is key right now. But Walmart is ahead of the grocery game, and curb-side pickup will get a boost, too, even after lockdowns ease. And yet its stock is up half as much. Being in Jeff Bezos’ shadow has a price.