News Cart for May 23rd

News Cart for September 11th

Hello ECFuelers!

Shopify snapped up 6 Rivers Systems in a $450 million deal to boost the company’s warehouse automation technology.

Apple debuted the iPhone 11, Apple Arcade and more at its big September event. Apple TV Plus appears to be gunning for Netflix and Hulu with original content at a low monthly fee. Amazon is similarly rolling out an expanded streaming TV lineup.

Stripe and Target are on fire lately. Stripe added lending services and a corporate credit card, while Target hit the bullseye with its quarterly earnings report.

Facebook and Google continue to be plagued by antitrust probes, this time with nearly all of the states coming after them!

Check out these stories and more in the ECF News Car for Sept. 11. You can also listen to this week’s roundup on the podcast via iTunes, Stitcher or the ECF Blog.

Enjoy!

– Andrew

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In the News:

Shopify Buys 6 River Systems for $450 Million

  • 6 River Systems is a warehouse automation and management tech developer
  • Their cloud-based software and mobile pick/pack robots called “Chuck” will be added to Shopify’s Fulfillment Network
  • Two of 6 River’s founders are from Kiva Systems (now Amazon Robotics)

Stripe Gets Into Lending and Launches Corporate Card

  • Stripe to use payment history data from its own platform instead of FICO scores to assess credit-worthiness
  • Funds able to hit users’ accounts the next day, and businesses can repay as they earn
  • Corporate card allows fast-growing businesses to manage spending in real time and get automatic increases as business grows, plus 2% cash back on top spending categories

Apple Announces iPhone 11, Takes on Netflix, Hulu With Low Streaming Price

  • iPhone 11 will have A13, the fastest chip in a smartphone.
  • Gamers can subscribe to Apple Arcade for $4.99/mo.
  • Apple TV Plus, with original content, will be available for $4.99 per month or free for one year with a new device.
  • Watched a condensed 15-minute version of the Apple keynote here. 

Senators Ask Jeff Bezos to Crack Down Unsafe Products on Amazon

  • Three senators asked Amazon to immediately stop selling unsafe products and use more effective warning labels
  • Letter cites an August Wall Street Journal investigation that found more than 4,000 unsafe or banned products on Amazon

Google, Facebook Hit With State Antitrust Probes

  • 50 attorneys general launch antitrust probe of Google with a focus on digital advertising
  • New York’s AG and eight others are investigating Facebook for possible antitrust violations
  • Facebook is already under federal investigation by the FTC, while Google faces federal antitrust scrutiny from the DOJ

Why Target Is Shocking Everyone and Putting Amazon on Notice

  • Target’s strong omni-channel business model credited for blowout second quarter, including 34% jump in online sales
  • Retailer cited surge in same-day fulfillment – both drive-up and Shipt delivery – driving sales growth

Amazon Expands Its Streaming TV Lineup With Slew of New Products

  • Amazon introduced faster Fire TV Cube and Alexa voice assistant
  • More than 15 third-party products, including soundbars and smart TVs, will have Fire TV software and Alexa built in

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