1. News
December 14, 2018

Deals this week: Walmart, Jaanuu, BacklotCars

Walmart, in partnership with Rakuten, has opened its first online retail platform called Walmart Rakuten Ichiba Store.

Walmart will open its first online retail platform called Walmart Rakuten Ichiba after partnering with Rakuten.

The e-commerce store is located at the Rakuten Ichiba internet shopping mall in Japan. It combines the expertise of Walmart and Rakuten to improve shoppers’ experiences.

Walmart’s new digital store provides 1,200 branded US products from different categories such as outdoor goods, retail goods, and toys.

Orders placed by the customers are fulfilled in the US and the products are directly delivered to Japan by air.

Walmart plans to add more categories at the Rakuten Ichiba shopping store. A new platform called Walmart eBooks was also launched by partnering companies in August 2018.

The eBook allows customers to browse through a catalogue of more than six million books.

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Walmart is a multi-national retail chain based in the US, while Rakuten is a Japanese e-commerce company headquartered in Tokyo.

Jaanuu has raised $15m through a growth equity funding led by JMK Consumer Growth Partners.

The funding round also involved participation from the Nordstrom family and David Kessenich, the managing partner and co-founder of Excellere Partners.

“Jaanuu has raised $15m through a growth equity funding led by JMK Consumer Growth Partners.”

Jaanuu is an online lifestyle apparel and medical products retailer, while JMK Consumer Growth Partners is an equity investment company supporting high-growth consumer companies.

Both companies involved in the transaction are based in the US.

BacklotCars has raised $8m through a series-A funding and $10m in an expanded credit facility.

Led by Origin Ventures, the funding round involved participation from Pritzker Group Venture Capital, Revolution’s Rise of the Rest Seed Fund, KCRise Fund, Chaifetz Group, and Royal Street Ventures.

BacklotCars is an online wholesale car market for vehicle dealers, while Origin Ventures is a venture capital firm that specialises in early-stage investments.

All the companies involved in the transaction are based in the US.

Intel will launch the Digitised Retail Joint Lab for exploring the utility of Internet of Things (IoT) in smart retail solutions after partnered with JD.com.

The partnership will use Intel’s architecture to develop next-generation media and advertising solutions, vending machines, and other technologies for future retail usage.

A new lab will focus on the development of a suite of technology upgrades for he owners of bricks-and-mortar stores, including providing smart price tags, shelving, and checkout options.

The partnership will also develop a retail ecosystem using JD’s big data analysis capacity and Intel’s advanced edge computing technology.

Intel is a multinational corporation dealing in technology, cloud computing, and electronic solutions based in California, US, while JD is an e-commerce retailer based in China.

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