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International Business

  • Indian e-commerce provider Flipkart receives $1 billion funding

    Bangalore, India – Indian e-commerce platform Flipkart has received about $1 billion in funding from investors including existing backer Tiger Global Management, as well as new stakeholders Morgan Stanley and Singapore-based sovereign wealth fund GIC. Flipkart operates as an online marketplace for 3,000 individual merchants, similar to China’s Alibaba.com.

  • Bill Me Later becomes PayPal Credit; goes global

    San Jose, Calif. – PayPal is rebranding its Bill Me Later online credit service as PayPal Credit. PayPal says it is making the name change as it moves credit more towards the center of our business, aligning it more closely with the overall brand.

    In addition, PayPal plans to introduce PayPal Credit to the U.K. and Germany, based on requests from customers and retailers. The company also plans to expand PayPal Credit to other markets in the future.

  • Couche Tard buys 55 Super Pantry stores in Illinois, Indiana

    Laval, Canada - Alimentation Couche-Tard Inc. will acquire 55 Super Pantry convenience stores and related assets from Tri Star Marketing Inc. Fifty-one of the stores are located in the state of Illinois ,and four stores located in the state of Indiana. These stores offer Phillips 66 and Mobil branded motor fuel.

  • Amazon to invest $2 billion in Indian operation

    Seattle – Amazon.com is making a serious bid to control the Indian e-commerce market with a planned $2 billion investment in its Indian operation. In a statement emailed to major U.S. media outlets, Amazon said it sees “huge potential” in India’s economy and e-commerce market.

  • BitPay woos businesses with new pricing plan

    BitPay, a payment service provider (PSP) specializing in e-commerce, B2B and enterprise solutions for the bitcoin digital currency, has unveiled a new pricing plan that offers basic payment processing free, forever.

    The company is hoping to leverage the pricing plan to woo businesses into accepting bitcoin for goods and services.

  • Cold Stone Creamery enters Kenya

    Scottsdale, Ariz. - Kahala Brands, the parent company of Cold Stone Creamery, has signed a 10-year master franchise agreement with Om Nom Nom Mauritius Ltd. (ONN Ltd.) in Kenya. There are seven stores slated to open during a five-year period and the first location will be in the capital city of Nairobi, scheduled to open in late September.

    ONN Ltd. will offer luxury products as well as ice cream to Kenyan consumers.

     

  • Wayfair adds e-commerce expert to board

    Online home furnishings company Wayfair has added e-commerce expert Romero Rodrigues to its board of directors.

    Rodrigues, a 36-year-old Brazil native, is currently global CEO at South African company Naspers, which acquired his company Buscape in 2009 for $374 million.

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