In today’s top news, FinTech startup Tink raised €85 million to bring its valuation to €680 million, and Starbucks plans to shift more toward drive-thru and online ordering. Plus, Airbnb shares soared in its first day of trading.
New Funding Values Swedish FinTech Startup Tink At $824 Million
Stockholm-based FinTech Tink announced a new funding round of €85 million, which boosts the startup’s valuation to €680 million ($825 million). The open banking platform’s valuation is up more than 60 percent from the €415 million it was worth in January.
Starbucks Shifts 45 Pct Of Stores Toward Drive-Thru, Order Ahead
As it said at its investor day, post-pandemic, Starbucks is targeting growth both in the U.S. and internationally — especially in China. Mobile and pickup are the tailwinds underpinning a store expansion that eyes convenience even as the company dramatically expands its new store footprint.
Airbnb Shares Soar Over 110 Pct On First Trading Day
Shares of Airbnb soared more than 110 percent from their initial public offering (IPO) price of $68 to finish out the day at $144.71. Brian Chesky, Airbnb’s CEO, said that prior to Airbnb’s IPO, the company was thinking about changing how consumers arrange their trips, as telecommuting is possible for a number of individuals.
Instagram Users Can Now Shop From Reels
Instagram has officially launched shopping in Reels, a competitor to TikTok. Reels are the short-form videos that now have their own tab in Instagram. The feature is expected to appeal to creators and brands, and will also allow users to add shopping tags to their posts.
eBay: Offline Payment Preferences Are Changing Online Habits
Consumers’ newfound affinity for touchless shopping and payment experiences at brick-and-mortar stores is influencing how they shop online, said Keala Gaines, vice president of global payment services for eCommerce marketplace eBay. In December’s The Anatomy of Consumer Payments Playbook, Gaines explains how QR codes and mobile wallets play an important role in driving conversion and loyalty.
Visa’s Cybersource: The Frictionless Fix Is In For Physical Retail’s Broken Business Model
As fast and furious as the digital pace has been in 2020, it will accelerate in 2021. Michele Herron, Visa’s Cybersource senior vice president and head of strategy, marketing and SMB solutions, told Karen Webster that the winners are those retailers that were already shifting digital in the pre-COVID-19 world.
‘Tis the Season …. For Omnichannel Returns?
Record eCommerce sales will translate into high rates of returns this holiday season. Amid the pandemic, retailers must consider the different ways consumers want to return what they don’t want – in person and/or by mail.
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