Walmart’s Flipkart considers going public in the US via SPAC, report says

flipkart ceo Kalyan Krishnamurthy
Flipkart CEO Kalyan Krishnamurthy.

  • Flipkart is considering a US IPO and has approached several SPACs about a potential deal, Bloomberg reported. 
  • The online retailer may seek a valuation of at least $35 billion in a deal with a black-check firm.
  • Walmart bought a stake in Flipkart in 2018.  
  • Visit the Business section of Insider for more stories.

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. 

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How to contact Etsy customer service as a buyer or a seller via phone, email, or chat

Woman making a call
Etsy buyers and sellers can contact customer service over the phone, through email, or via chat.

  • You can contact Etsy customer service over the phone or internet, but you need to have an Etsy account.
  • You can call an Etsy customer service phone number (1-844-935-3879 in North America) to get help with more advanced buying or selling issues.
  • The simplest way to contact Etsy is using their online Help Center, which lets you chat or send an email.
  • Visit Insider’s Tech Reference library for more stories.

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. 

How to delete an Etsy seller account and close your shop, even if you have outstanding orders to completeHow to close or permanently delete your Etsy account and remove your data from the independent seller platformHow to open a case on Etsy to get a refund, replacement, or have an item re-shippedHow to sell on Etsy, the online marketplace for handmade and vintage items

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Reviews company Trustpilot plans to raise $50 million in a London IPO – handing the UK capital a tech listing

trustpilot
Trustpilot is looking to take advantage of a boom in online retailing

  • Trustpilot has chosen London for its upcoming IPO, giving the UK capital a sizable tech listing.
  • The reviews company is seeking to take advantage of a boom in online retailing and investor demand.
  • Trustpilot is targeting a $1.4 billion valuation, according to a person familiar with the matter.
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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.

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How to put your Etsy shop in Vacation Mode and pause new orders while you’re traveling or fulfilling old orders

Crafter on tablet
You can put a pause on your Etsy shop using vacation mode.

  • You can turn on Etsy’s Vacation Mode through your account’s “Shop Manager” menu.
  • Vacation Mode stops new orders from coming in, letting you manage your current orders without closing your account.
  • Etsy’s Vacation Mode can be a useful option if you’re sick, traveling, or need to catch up on existing orders.
  • Visit Insider’s Tech Reference library for more stories.

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.”

What is Etsy? Everything you need to know before buying or selling on the handmade and vintage e-commerce platform for independent creatorsHow to sell on Etsy, the online marketplace for handmade and vintage itemsHow to delete an Etsy seller account and close your shop, even if you have outstanding orders to completeHow to open a case on Etsy to get a refund, replacement, or have an item re-shipped

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How to claim an Etsy order purchased as a guest so you can open a case or leave a review

Woman and man look at laptop
Etsy lets you purchase items as a guest, but you won’t have full access if something goes wrong with your order.

  • To claim an Etsy order purchased as a guest, locate your email receipt and click on the order number, then make an account.
  • Claiming an Etsy order must be done through a web browser and can’t be done using the mobile app.
  • Making an Etsy account will also let you open a case or leave a review on the item you purchased.
  • Visit Insider’s Tech Reference library for more stories.

For most items on Etsy, you can check out as a guest without creating an account. 

However, if you have an issue with your order and need to open a case on Etsy to get a refund, replacement, or have an item re-shipped, you’ll need to create an account and claim your order to do so. 

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 transaction@etsy.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.

How to open a case on Etsy to get a refund, replacement, or have an item re-shippedHow to leave a review on Etsy to give a seller feedback on your purchase and help other usersHow to cancel an order on Etsy, the online marketplace for handmade and vintage itemsHow to close or permanently delete your Etsy account and remove your data from the independent seller platform

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What is Etsy? Everything you need to know before buying or selling on the handmade and vintage e-commerce platform for independent creators

beads on pink minimalist background
Etsy offers independent business owners interested in crafting and vintage collections an online marketplace.

  • Etsy is an online marketplace where independent crafters, artists, and collectors can sell vintage, handmade, or custom-made jewelry, clothing, home décor, art, toys, and more. 
  • Etsy offers a wide variety of shipping options and accepts various payment methods, including credit and debit cards, Etsy gift cards, Apple or Google Pay. 
  • Etsy competes with brands like Shopify, Big Cartel, and Amazon Handmade, but has carved out a corner of the market thanks to a seller pool that’s over 80% women
  • Visit Business Insider’s Tech Reference library for more stories.

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

Esty seller viewing inventory on computer
Sellers optimize their online shops to help buyers find what they need quickly.

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

Woman models vintage clothing from Etsy store
Etsy features both custom and handmade clothing, as well as vintage pieces.

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: 

  • Your location
  • Shop name
  • 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. 

Related coverage from Tech Reference:

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Sellers on Amazon say the company’s new cap on products they can send to its warehouses is cutting into their holiday sales: ‘It’s killing us’

amazon package logo warehouse
A package in an Amazon warehouse on December 8, 2020.

  • Third-party sellers are saying Amazon’s inventory restrictions are making it difficult for them to replenish supply and keep up with demand during a busy holiday-shopping season.
  • Amazon capped the number of items that the sellers can ship to its warehouses in an effort to conserve space, but sellers told CNBC that the new rules are cutting into their holiday sales.
  • This year’s holiday-shopping season has been forecast to be the busiest ever, bolstered by online sales already driven up during the pandemic, with customers forced inside.
  • The report also comes as Amazon remains under scrutiny over its treatment of third-party sellers on its online marketplace.
  • Amazon has since emphasized the success that sellers have seen on its site — the company said third-party sales surpassed $3.5 billion during its Prime Day event this year.
  • Visit Business Insider’s homepage for more stories.

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.

Read more: Amazon’s biggest strength isn’t its size or delivery network – it’s the data. Now the EU wants to rein it in.

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.

You can read the full report on CNBC here.

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