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Bits & Bytes | Alibaba IPO, Wearables and Context, RealReal Raises $20M

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Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.

Alibaba headquarters | Source: Reuters

“Chinese Giant Alibaba Will Go Public, Listing in U.S.” (The New York Times)
“The Chinese e-commerce behemoth Alibaba Group filed paperwork on Tuesday in the United States to sell stock to the public for the first time, in an embrace of the global capital markets that represents a coming-of-age for China’s booming Internet industry.”

“Tracking is Dead: The Next Wave of Wearables is Context” (Recode)
“Wearables are great at surfacing a lot of data. They’re just not good at making sense of it. In order to recapture our collective imaginations, wearables need to gather enough contextual knowledge to draw meaningful conclusions themselves — and to let us know when they’ve found something good.”

“Luxury Consignment Site RealReal Raises $20 Million” (Businessweek)
“RealReal, a consignment website that sells unwanted luxury goods harvested from the homes of their original owners, has raised $20 million in venture funding, the company announced on May 6. The series C round nearly doubles the amount the San Francisco startup has raised to date.”

“Kwoller, A Tinder For Fashion Price-Tracking, Launches At Disrupt NY” (TechCrunch)
“If you swipe right an item is added to your ‘love list’ and the Kwoller koala mascot (selected because koalas are famously choosy about what they consume) will also keep its beady eye on the item’s price-tag — sending a push notification of any price drops so you can swoop in and snag that bargain.”

“Fashion World Sashays to Instagram for Brand-Building” (The Financial Times)
“In the early days of Instagram, supermodels, street-style bloggers and fashion designers took to the photo-sharing platform for fun and as a place to showcase their work. Now, many of them have millions of followers worldwide, and their presence on the Facebook-owned mobile app is turning Instagram into a serious contender for the billions in marketing dollars spent by the fashion world annually.”

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