DTC's Daily Digest gives you the latest news on the fastest growing brands in the world. In today's edition: Farfetch releases the flagship on JD; BUX collects funding when it comes to the new application; Bird Rides buys Scoot.
Farfetch Launches Pioneer on JD
Fashion luxury online retailer Farfetch she has He launched a major store on JD.com, China's largest retailer and strategic investor at Farfetch. According to a press release from the e-commerce platform, this partnership will open retail offerings for the JD.com customer base, which is worth more than $ 300 million.
By owning a major store on JD.com, Farfetch will strengthen its presence and global offerings. The move comes after Chinese company Farfetch acquired Toplife in February from JD.com, which is already a strategic investor in Farfetch.
"The ability to offer a full range of Farfetch technology and logistics platform to brands wishing to reach outstanding Chinese consumers is a major competitive advantage as we seek to continue to grow market share in the rapidly expanding luxury market," said Judy Liu, MD China's Farfetch. Online. "
Farfetch Now has a Level 1 entry point on the JD.com application, meaning that over 300 million customers have immediate access to more than 3,000 brands through the growing network of growing partners of the European retail and technology company.
BUX collects funding as the new application comes into play
Dutch Trading Application Box she has Raised $ 12.5 million (£ 9.9 million) in funding. The round, which totaled $ 35 million (£ 28 million), led Velocity Capital and Holtzbrinck Ventures.
Funding has been used to support the acquisition of online broker Ayondo Markets Limited, Bux's back-end provider for their current trading application, and will support both the launch and the initial stage of stock application. Bux currently has more than 100,000 users in their application queue.
Bux aims to enable people to participate in the financial markets through their mobile platforms to invest equities without commission and speculative trading. Is now participating in the progress of Stocks, an application for mobile investment, which will allow Europeans to invest without commission as of July 2019 in the Netherlands, Germany and Austria, followed by a wider offer across Europe next year.
The launch of the new application will launch Bux in competition with London-based Freetrade, while Revolut, the fastest growing banking application, plans to launch a free trading feature.
Bird riding buys Scoot
Santa Monica-based bird riding company has I got the San Francisco Scooter Electric Scoot company For an undisclosed amount. The deal could be the first major step towards broader consolidation.
For Bird, the purchase represents an opportunity to restart its service at the technology industry headquarters. Scoot was one of the only two companies to obtain permits to work in San Francisco by the city's municipal transport agency last August, as regulatory oversight for Bird and Lime, the two largest scooter companies.
Scoot was founded in 2011, the last time worth $ 71 million (£ 56 million) and raised a total of $ 47 million (£ 37 million) in funding. Bird collected more than $ 400 million (£ 316 million), the last of which was $ 2 billion (£ 1.6 billion). Part of the value of Scoot comes to Bird in the form of its long and friendly relationship with San Francisco organizers and its ability to operate in the city.
In San Francisco, after Bird and Lime and Spin launched their own motorcycles without permission in March 2018, there were 1,900 motorcycle complaints, resulting in the seizure of 500 of them. The city forced companies to remove their scooters immediately while drafting legal guidelines for motorcycle companies.