attracts 350 million dollars | RetailDetail attracts 350 million dollars attracts 350 million dollars

Online retailer has attracted 350 million dollars (330 million euro) from its investors, although that means it is still short of its 500 million dollar target.

Compete with Amazon did mention it will have verbal agreements for another 150 million dollars (141 million euro) by the end of the year and intends to use that money to compete with Amazon over the coming holiday season.


Some investors state that's founder, Marc Lore, is preoccupied with this fight against Amazon. There is actually a bit of history between Lore and Amazon, as his previous online retailer (Quidsi) almost perished under Amazon's rule and was eventually sold to Amazon for 500 million dollars (471 million euro) in 2010.


Analysts say that will face an uphill battle if it were to compete with Amazon as the competitor already has a extensive logistics network and a loyal customer base. Nevertheless, hopes it can entice customers with higher discounts if more is purchased. A subscription fee has already been scrapped. has already invested heavily in advertising campaigns, but its October turnover only reached 33 million dollars (31 million euro).

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German Otto Group continues to soar


German online company Otto Group saw its turnover grow 10.9 % to 7.76 billion euro in the past fiscal year. The former mail order company will continue to invest in start-ups and technology.

Decent profit increase for


Chinese online retailer has grown strongly in 2017: turnover grew nearly 50 % and it was profitable again. The company also expects to exceed a 30 % growth pace in 2018’s first quarter.

Rakuten ditches Priceminister brand


Rakuten has decided to get rid of its French brand Priceminister and absorb it into Rakuten, similar to what it did tot British acquires Eastern European competitors


Fast food supplier acquired its Bulgarian competitor BGmenu and its Romanian competitor Oliviera in yet another step towards its goal of being the European market leader.

Colruyt joins PostNL's grocery service


The mailman will deliver groceries every two weeks from now on: PostNL will collaborate with new grocery service Stockon in the Netherlands. A remarkable fact is that its private label brands are Boni, which is Belgian supermarket chain Colruyt’s private label.

Strong growth for Chinese e-commerce once again


There was another strong increase in the Chinese online market last year: compared to 2016, it achieved an astonishing 32 % growth. In that regard, China is performing exceptionally online.

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