Former GoFundMe CEO raises $200M for ecommerce platform

Author

Stephen Babcock
April 11, 2023

In this week’s funding and M&A news, GoFundMe’s former CEO makes a splash in the ecommerce ecosystem, Tropic Skincare’s founder returns to the sole owner’s chair and Sleep Country acquires Casper’s Canadian business. Plus, Nestlé invests in a nutrition brand, and Smalls closes new funding to keep innovating for cats.

Online prices were in deflation for the seventh straight month in March, falling 1.7% year-over-year, according to the Adobe Digital Price Index. There were steep drops in discretionary categories such as electronics and home goods. The prices of grocery and personal care items continue to rise, but are cooling from their peak.

Macy’s is expecting the pressure on the consumer that started last year to extend into 2024, as inflation remains persistent and consumers remain cautious. All income segments are affected, according to CFO Adrian Mitchell. Macy’s is adjusting its assortment accordingly. – WARC

PayPal added four new features for checkout at online stores: Small businesses can accept Apple Pay, customers can save payment methods in the PayPal vault and accounts will update in real-time. For more transparent pricing, small businesses can now access IC++. – EcommerceBytes

Piper Sandler's latest Taking Stock with Teens survey looks at top footwear brands, snacks and shopping channels among Gen Z. Some of the biggest gainers of the season include specialty beauty, off-price shopping and Crocs.

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