May 19, 2020

Amazon: How Your Business Can Go Global

Amazon
global business
ACCS
Erik Fairleigh, PR Manager at ...
2 min
Amazon: How Your Business Can Go Global

Australia is often heralded as a global leader in ecommerce, but according to a recent 2014 Sensis e-Business report, only 26 percent of Australian e-retailers are selling to overseas customers. With the global ecommerce sales set to reach USD$1.5trillion in 2014, Australian retailers are only scratching at the surface of the much bigger opportunity.  

To take advantage of the global marketplace and ensure your sales strategy translate globally, here are some added considerations for businesses to tap into.

Culture and Language: Ensuring that your products, prices and brand positioning resonate with the culture of the countries you’re selling in should be your first priority. Invest in a professional translation service for your product suite and sales process. Language proficiency is extremely beneficial when researching and ultimately selling in a new market.

Seasonality: Understanding and charting seasonal differences can have a substantial impact on your ecommerce strategy. For example, recognising that Australian summer is a Canadian winter and vice versa can allow you to design a global selling strategy that maximises your seasonal inventory. Fundamentally, you can extend your selling season by selling to countries where the product may find a new audience. 

Financial complexities: Managing international transactions can often be a stumbling block for ecommerce businesses. Recognising the complexity of this area, Amazon offers assistance to its marketplace sellers though the launch of Amazon Currency Converter for Sellers (ACCS). ACCS is an optional service that enables businesses that sell globally to be paid directly into their local bank account, in the local currency, saving time and eliminating the complexity of maintaining foreign bank accounts.

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Jun 8, 2021

Timeline: India takes unicorn leap with six in five days

India
Unicorns
Startups
tech
Kate Birch
2 min
We chart an historic week in India’s startup tech industry, where from April 5-9 the country achieved six unicorns

We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.

April 5: Meesho

India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.

April 6: CRED

Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.

April 7: API Holdings / Groww

The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.

April 8: ShareChat

New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.

April 9: Gupshup

AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels. 

 

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