The Newsfeed – E-Commerce

June 23, 2023

  • AWS to fund $100m Generative AI program (LINK). AWS announced the launch of the AWS Generative AI Innovation Center, a $100m program that will support AWS customers’ developments of generative AI. Through the program, participants have access to strategy and science experts to define and reach their generative AI goals.
  • AMZN’s proposed acquisition of iRobot reportedly to be investigated by EU regulator (LINK). The European Commission is reportedly set to launch an investigation into AMZN’s proposed $1.7b acquisition of iRobot. The news comes after the UK’s competition regulator approved the deal the prior week.
  • FTC files lawsuit against AMZN over Prime subscription practices (LINK). The FTC filed a lawsuit against AMZN over its Prime subscription service, alleging that the company signed up users without their knowledge and intentionally made cancelling the subscription complicated. AMZN responded that the FTC’s claims are untrue.
  • AMZN Prime Day to take place on July 11 and 12 (LINK). AMZN announced that its next Prime Day will be July 11-12. AMZN also unveiled its new invite-only deals program, allowing members to request the ability to purchase Prime Day deals that are expected to sell out.
  • AMZN faces Senate investigation into labor practices (LINK). Senator Bernie Sanders has initiated an investigation into AMZN over its labor practices. While the Senator claims that the company’s warehouse operations are dangerous, AMZN strongly disagrees with his allegations.
  • BABA names Eddie Wu as next CEO, Daniel Zhang to stay on as cloud unit CEO (LINK). BABA announced that effective September 10, Eddie Wu, the current chairman of Taobao and Tmall, will succeed Daniel Zhang as the next CEO of the company. The company also announced that Joseph Tsai, the executive vice chairman, will succeed Zhang as BABA’s chairman. Daniel Zhang will continue to serve the CEO and chairman of the company’s cloud computing division, which is slated to go public in a year.
  • JD outlines 20 year vision (LINK). JD announced its “35711 Vision,” a 20 year plan that includes creating three companies that generate over RMB 1T in revenue and RMB 70b in net profits. The company will also focus on growing its presence in lower-tier markets, improving its technology and services, as well as international expansion.
  • WMT announces Walmart+ Week on from July 10-13 (LINK). WMT announced Walmart+ Week from July 10-13. While the sale will be available to all customers starting July 11, Walmart+ members will get access to discounts the day prior.

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