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Indonesian social commerce startup KitaBeli raises US$20M

KitaBeli, an Indonesian social commerce platform focused on tier 2 and 3 cities, has raised a US$20 million funding round led by Glade Brook Capital Partners, a US-based growth equity investor. Launched in March 2020, KitaBeli offers fast-moving consumer goods on its gamified platform, allowing users and partners to get discounts and earn money by leveraging their social networks. It claims to be the largest direct-to-consumer social commerce platform in Indonesia.

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Malaysia’s ADA acquires SingPost’s eCommerce unit to expand eCommerce solutions across APAC

July 21, 2022

ADA, an regional integrated end-to-end eCommerce solution provider, said it has acquired SingPost’s eCommerce arm, to further strengthens its end-to-end eCommerce capabilities in the region. This deal, which includes the unit’s assets and staff, will further strengthen ADA’s eCommerce capabilities in technology and enablement, offering clients fully integrated services in Malaysia, Singapore, Indonesia, Thailand, the Philippines, Sri Lanka, Bangladesh, Cambodia, Vietnam, and South Korea.

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Stori, a Mexican Fintech Known for Its Digital Credit Card, Is Latin America’s Newest Unicorn

July 21, 2022

Stori became the new Mexican unicorn after surpassing the US$1 billion valuation barrier in a Series C extension. In 2020 they launched their main product in Mexico, a digital credit card for which no annuity is paid and is processed online “in minutes” from a mobile phone. It is aimed mainly at the unbanked population, representing a very high percentage in Mexico and LatAm.

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Big Tech Suffers Big Drop in Customer Data Trust: Jebbit Survey

August 8, 2022

Greater public attention to privacy has reduced trust in all tech providers, including those like Apple and Google that have positioned themselves as privacy-friendly.  Apple’s rank in Jebbit’s annual Consumer Data Trust Index fell from 17 to 43, while Google fell from number 4 to 89.  Amazon fell just slightly, from first to fourth place, while Facebook actually improved a bit from 97 to 88.

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