Amazon acquires GlowRoad🤝🏻, Nykaa acquires💸, Twitter & Stripe🪙
Amazon acquires reseller platform Glowroad, Nykaa makes strategic investments, Twitter, Stripe pilot cryptocurrency payments, Funding Deals & more.
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Amazon acquires reseller platform Glowroad in social commerce push🛍️
Amazon India has acquired women focussed social commerce startup Glowroad in its attempt to get a foothold into this buzzy segment where newer players have emerged over the past few years.
Kunal Sinha, the cofounder of Glowroad, said, "As we are at the early stage, we look forward to working with Amazon to make the online shopping experience more convenient and trusted for new-to-e-commerce customers, and unlocking greater value for sellers and resellers.”
According to the company's website, a reseller can earn around Rs 20,000 per month if they sell 100 products in a month and the startup is present in approximately 20,000 pin codes and has over six million resellers in 2,000 cities.
Nykaa acquires stakes in Earth Rhythm, Nudge Wellness, and Kica Active💰
Nykaa has announced the acquisition of an 18.51% stake in clean beauty brand Earth Rhythm for ₹41.65 crores, a 60% stake in Nudge Wellness for ₹3.6 crores, and athleisure brand KICA for ₹4.51 crore.
“In the last few years, consumer brands have taken center stage and we are committed to serving our customers across the spectrum,” said Falguni Nayar, founder, and chief executive, of Nykaa.
These partnerships are aimed at bolstering the early-stage beauty and lifestyle ecosystem and building the next generation of brands specializing in sustainable and inclusive products.
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B2B packaging eommerce platform DCGpac has raised Rs 11.45 Crores in a Pre-Series A round by Venture Catalysts and 9Unicorns.
Twitter, Stripe pilot cryptocurrency payments for creators🪙
Twitter Inc and digital payments processor Stripe Inc will pilot cryptocurrency payouts for select users of the social media site's content monetization products.
Eligible users of Twitter's Ticketed Spaces and Super Follows programs will be able to receive their earnings from the company in USD Coin, a stable coin whose value is pegged to the U.S. dollar.
The crypto payments will be routed through Stripe Connect, which will also handle know-your-customer requirements. Stripe plans to add options for payment in other cryptocurrencies in the future.
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