Walmart’s Flipkart is looking into going public in the U.S., with the Indian online retailer considering a merger with a blank-check company as an option, according to a report Thursday.
Flipkart’s advisers have approached several special purpose acquisition companies, or SPACs, in aiming for an initial public offering in the US and to quicken the listing process, Bloomberg reported, citing unidentified sources.
Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, the report said.
Talks are at an early stage and Flipkart could look into other options. A Flipkart representative had no immediate comment, Bloomberg reported.
Walmart in 2018 bought a majority stake in Flipkart in a $16 billion deal. Flipkart sells 80 million products on its platforms and is battling Amazon and other companies for market share in India.
Whether you’re a seller or a buyer, there are several ways to contact Etsy customer service if you have an issue. Etsy’s customer support service can help sellers resolve shop issues, help buyers with orders they’ve placed, and more.
Calling, emailing, or starting an online chat are all options if you want to contact Etsy Support. Plus, the process is virtually the same whether you’re a buyer or a seller.
Online reviews company Trustpilot has announced plans to list on the London Stock Exchange and raise $50 million, giving the UK capital a sizable technology listing as it competes with New York and Amsterdam for initial public offerings.
Trustpilot is seeking to take advantage of both strong demand for tech companies from investors and a boom in online retailing driven by the pandemic.
The Copenhagen-based company has already been boosted by the surge in online retailing, with revenues jumping 25% in 2020 to $102 million, narrowing its pre-tax losses to $12.9 million. Around 121 million reviews had been submitted through Trustpilot by the end of 2020, while the company had close to 20,000 subscribers using its paid service.
Trustpilot hopes its stock-market debut will give it a valuation of around £1 billion ($1.4 billion), according to a person familiar with the matter.
“With ecommerce making it more difficult for consumers to know where to place their trust and for businesses to earn it, Trustpilot is well positioned to facilitate the growth of the trust economy for years to come,” the company’s chairman Timothy Weller said in the statement announcing the intended IPO.
Chief executive Peter Holten Mühlmann said: “Today is a significant landmark in our development. We believe that an IPO of the business will allow us to continue the momentum of recent years, providing a platform to deliver new products to more geographies, and succeed in our vision to become a universal symbol of trust.”
Trustpilot’s plan to IPO in London is a boost for the UK’s main stock exchange, which has lost out in recent months to New York and Amsterdam when it comes to fashionable new listings.
New York has been at the centre of the boom in special-purpose acquisition companies – or SPACs – and is where the world’s biggest tech stocks are traded. Amsterdam has also attracted SPACs and has taken a growing share of European stock trading after Brexit.
Trustpilot plans a free float of at least 25% of shares. An over-allotment option could make another 15% available.
Life happens, and sometimes we need a break from it all. For Etsy shop owners, there’s an option called Vacation Mode that allows you to step away from your shop for some time.
As the name suggests, Vacation Mode allows Etsy sellers to take a break from managing their Etsy shop. While it’s on, you won’t receive any new orders, but you’ll still able to manage and fulfill existing orders. You’re also still able to issue refunds to customers, cancel orders, and print Etsy shipping labels.
You’ll also be able to set up an auto-reply to anyone who messages you, and put an announcement on your shop page letting people know that you’re away. Here, Etsy shoppers can sign up to be notified via email when your shop returns.
Here’s how to set up Vacation Mode.
You can turn off Vacation Mode later by returning to this menu and clicking “Off.”
Claiming an order links it to your Etsy account. Creating an account and claiming your order will also allow you to review the item you purchased.
Luckily, doing this is easy. You can’t use the app, however – you’ll need to go to the website on your desktop computer or mobile phone browser.
How to find your order confirmation receipt for your Etsy guest purchase
If you’re unable to locate the email with your receipt, check your spam or junk mail folder for an email from email@example.com. Use your email search function to find emails from that address. If this doesn’t work, contact Etsy Support.
If nothing happens when you click the email’s confirmation number, double-check to make sure you’re viewing your order receipt. Other notification emails, like shipping updates and new message notifications from the seller, don’t include links for claiming your order.
If you see an error page, sign out of Etsy and sign into your account associated with the email you used during guest checkout. If you’re trying to claim the order on a mobile browser, make sure you’ve signed out of the app first.
Etsy was founded in 2005 to connect small, indie artists, creators, and collectors with customers looking for gifts, collectibles, and goods with a more personalized touch.
Just two years after the site launched, it already had nearly half a million users and $26 million in sales, VentureBeat reported. By 2018, the e-commerce company had racked up some 2 million sellers and 50 million products, according to Yahoo.
It achieved this rapid and continued success not through warehouses but its web of independent sellers. It’s a community of online shop owners that for years has been composed of mostly women – 87% of Etsy sellers identified as women in 2019, the platform self-reported.
Here’s everything you need to know before buying and selling on the Etsy platform.
What is Etsy?
Etsy is an online marketplace where independent artists and crafters can sell their goods. Etsy is primarily associated with handmade toys, collectibles, art, home goods, vintage furniture, jewelry, clothing, and holiday items, in addition to crafts and craft supplies.
Unlike Amazon and Walmart, everything on the site is made, collected, curated, and sold by its sellers. These independent business owners not only produce their goods but manage their orders and inventory, too. Etsy acts as the middle-man, giving smaller, independent creators a platform to find and attract customers.
What you need to know about buying on Etsy
The retail platform sorts its offerings by categories to help customers narrow down their search queries, in addition to offering recommendations for items and sellers based on their browsing history. If you are looking for a specific item, you can use the search bar at the top of the page to find it. But if you prefer to browse based on keywords or item type, Etsy links to various buying categories directly below the search feature.
Anyone can purchase items on the site, whether you have an Etsy account or want to checkout as a guest. The purchasing process is much like other online retailers, allowing you to add items to a digital car before checking out. The e-commerce retailer accepts credit cards, debit cards, Etsy gift cards and credit, Apple Pay, Google Pay, and some bank transfer services and PayPal where the option is available. As a global retailer, some buyers can even pay through country-specific installment methods.
Because all Etsy shop owners manage their inventory, they’re also responsible for their shipping. Most sellers on Etsy ship globally and allow you to choose from various shipping methods, with some even offering a free option. Because each seller chooses their shipping method, ordering from multiple sellers means you’ll likely receive packages from different carriers at different times, even if you ordered them all at once. Luckily, if a shipping issue occurs, Etsy offers a tool to check your order number and shipping confirmation alongside a chat app that will put you in direct contact with your seller to resolve the issue.
What you need to know about selling on Etsy
Those interested in opening up a shop on Etsy will be joining a network of millions of independent sellers. There are guidelines for selling any item on the site. But if you’re specifically interested in selling “vintage” pieces, Etsy has a verification process that begins with you confirming whether the piece is at least 20 years old.
Regardless of what you’re selling, there is no fee to set up your account, but there are fees for when you list, sell and ship your products. To set up a shop, you need to list the following information:
How you want to get paid by buyers
Your bank information to pay Etsy fees
Once you’ve got all this information collected, you can create your first listing. It costs $0.20 to list an item for sale on Etsy. Each item you list has a four-month shelf life before it is sold or deleted. Etsy takes 5% of the sale price of the item and 3% if you accept Etsy Payments, which includes a $0.25 processing fee. And suppose you want to advertise or promote your products on the Etsy homepage. In that case, it will also cost you a specific percentage of your sales or an upfront cost, depending on the duration of the advertising.
As you build out your shop, it’s digital appearance and prices will be essential factors to consider in building a signature brand customers will trust and return to. Many successful creators try to pick out unique usernames, themes, include high-quality images, and practice search engine optimization (SEO) techniques to find potential customers.
Amazon’s third-party sellers are saying the company’s cap on the number of products they can ship to warehouses is hurting their holiday sales and making it difficult to replenish supply, according to a new report from CNBC.
Amazon rolled out the new policy in August in an effort to conserve space, despite the creation of more warehouses across the country, during a pandemic-driven online sales surge.
Amazon set the limit by factoring in the last 90 days of sales for any given item, and sellers told CNBC that they didn’t think the company was considering the high demand of the holiday season when setting those restrictions. The company also says it caps the number of shipments for a new product at 200 units.
According to one third-party seller that spoke to the outlet, Amazon capped the number of units per shipment at 230. He said that number has been in the thousands in the past few years.
As CNBC notes, Amazon said back in August that third-party sellers can send in more stock as they sell products. But sellers told the outlet that their shipments are delayed when they send them to the company’s warehouses. Sellers also said that they’re worried about their listings being bumped down by Amazon’s algorithms if they run out of supply, according to the report.
Another seller, Jerry Kavesh, told CNBC that there’s a delay in about 30 of his units in entering one of Amazon’s warehouses.
“It’s been that way for five days,” Kavesh told CNBC. “It’s killing us.”
Amazon said its cap on shipments also applies to its own brands, per CNBC. Some sellers told the outlet that they expect this year’s sales to exceed those from last year, but the shipment limitations are still cutting into potentially higher sales.
In response to Business Insider’s request for comment, Amazon said it will be providing further details regarding the claims made in the CNBC report soon.
This year’s holiday shopping season has been forecast to be one of the busiest ever – online shopping is expected to rise 35% this year. The expected influx of online sales has led experts to warn of a “shipageddon” in which retailers and shipping companies are forced to scramble to keep up with the surge in business.
The report comes as Amazon’s treatment of its third-party sellers remains under scrutiny. The e-commerce company faced questioning from Congress this past summer over allegations that the firm released new products through its private label that appear almost identical to those sold by third-party sellers. The House determined that Amazon indeed used third-party seller data to inform its own copies of the most popular items listed on its online marketplace.
Employees also spoke out in 2019 about how easily Amazon can scrape third-party seller data and share it with its own retail team.
Amazon has since stressed that small businesses are thriving on its online marketplace. Amazon said third-party sales surpassed $3.5 billion during its Prime Day event this year, a growth the company said its own retail business hasn’t seen.