It’s already the ninth of June today – time to look back at all those changes that happen and news that were discussed since our last news update one month ago. While Twitter has finally and – as we believe – unavoidably disbanded its Social Commerce team, Amazon is still struggling to get a grip on fake reviews on its marketplaces and Rakuten shuts down its British marketplace. But there were also some good news: Raising an impressive amount of $1.8 billion in its Series F Snapchat has shown once again that the company is going to shape the future of Social Commerce and the way how people with each other.
Amazon sues sellers for buying fake reviews
As part of its effort to combat fake reviews on its platform, Amazon sued three of its sellers today for using sock puppet accounts to post fake reviews about their products. Amazon has been aggressively pursuing reviewers it does not consider genuine over the last year, often using lawsuits to discourage the buying and selling of reviews, but this is the first time it has sued the sellers themselves.Today’s suits are against sellers who Amazon claims used fake accounts to leave positive reviews on their own products.
Low Growth Forces Rakuten to Close UK Marketplace
Rakuten is closing its marketplaces in the UK and Spain in a major restructuring move in Europe. The company said it would focus on France and Germany, where its businesses have the scale and potential for sustainable growth. (…) Merchants discussing the closure on the Amazon UK boards said sales had slowed since Rakuten acquired UK marketplace Play.com in 2011 for 25 million pounds and closed it in favor of a new Rakuten UK marketplace. “No loss,” wrote one merchant of the announced closure on Tuesday.
E-commerce sales top half a trillion dollars in Europe in 2015
Overall web sales grow 13.3% across Europe in 2015, led by six Western European nations that collectively booked more than half of all online sales. Countries in Western Europe accounted for 55.5% of all European e-commerce sales in 2015 as web sales in Belgium, France, Ireland, Luxembourg, the Netherlands and the United Kingdom reached 252.86 billion euros ($282.00 billion). That’s up by 12.9% from 2014, Ecommerce Europe reports.
Are social media buy buttons on the way out?
Twitter’s plans to scale back its buy button alludes to a stalemate for retail on social media as consumers fail to adopt native shopping experiences, although Facebook, Instagram and Pinterest could still prevail.While Twitter is trying to establish itself more as a image-enabled social media platform, its consumer behavior is rooted heavily in text-based posts where direct purchasing ability is less likely to flourish. Other social platforms with heavier focuses on images may be more successful with buy buttons, but dynamic product ads offer the most potential when it comes to retail-enabled social pushes.
Twitter has disbanded the team that created the ‘Buy’ button
Twitter has dissolved its 25-member commerce team as CEO Jack Dorsey kills off initiatives that won’t pay off for the social network’s core business, reports BuzzFeed’s Alex Kantrowitz.This means that Twitter has ceased development of its “Buy” button, which let users order goods and services straight from a tweet. The Buy button will still be around, but won’t get new features, according to BuzzFeed.
Snapchat raised $1.8B in a Series F round; leaked deck reveals revenues, user numbers
Earlier this week, we reported that the messaging app startup Snapchat was raising more money. Now we have more updates for you.An SEC filing has been made today with information about Snapchat’s latest Series F round, in which it has raised $1.8 billion. Separately, we’ve also obtained a leaked pitch deck, revealing Snapchat’s revenue and forecasts.The Los Angeles-based company recently started its monetization efforts and brought in just $59 million in revenue in 2015, according to data in the deck. But it is now ramping up business in earnest, with the funding to match. In its most recent Series F of $1.8 billion, $1.158 billion of that has been raised in the last five months, since January, reliable sources tell TechCrunch.