TikTok is looking to grow the size of its TikTok Shop U.S. business tenfold to as much as $17.5 billion this year, according to a new report from Bloomberg.
As Bloomberg previously reported, TikTok was on track to amass around $20 billion in global gross merchandise value last year.
In addition, the report says the company is planning to launch TikTok Shop in Latin America in the coming months.
The report indicates that during the Black Friday and Cyber Monday season in November, more than 5 million new U.S. customers purchased something via TikTok Shop.
TikTok Shop has also started to reduce some subsidies for merchants.
The transition to multi-product can be a significant revenue generator when done successfully.
During my first few years, the company saw rapid growth as customers continued to use our software in new and inventive ways.
Drawing on my experience of graduating monday.com from the one-product mold, here are three steps to ensure your multi-product journey is successful.
If the (product-market) shoe fitsWe all know that finding a product-market fit can be challenging, especially when you have limited resources and must move quickly to find and serve your target market.
But there are a few signals that your initial offering has a wide product-market fit, and it would be easy for you to identify your second product:
Product design makes innovation less daunting and increases chances for success because it is a multidisciplinary process with structures and frameworks to catalyze innovation.
Before discussing the nontraditional ways technologists participate in product innovation, let’s conceptually examine innovation and product design.
A progressive role for technologistsTechnologists play a strategic role in product innovation and should bring a metaphysical perspective in addition to being punctilious.
Product innovation is experimental and should not always be expected to yield productive results.
Technologists add value to the product design process by sharing their expertise on a technology’s characteristics.
Kosmik was founded in 2018 by Paul Rony and Christophe Van Deputte.
And that’s when he started to build Kosmic, Rony told TechCrunch, drawing on a prior background in computing history and philosophy.
It also features a built-in browser, saving users from having to switch windows when they need to find a relevant website link.
Additionally, the platform also sports a PDF reader, which lets the user extract elements such as images and text.
“I think that everything revolves around the idea that we do not have the best web browser, text editor or PDF reader,” Rony said.
“Distributional is building the modern enterprise platform for AI testing and evaluation,” Clark told TechCrunch in an email interview.
Our platform is built for AI product teams to proactively and continuously identify, understand and address AI risk before it harms their customers in production.”Clark was inspired to launch Distribution after encountering tech-related AI challenges at Intel post-SigOpt acquisition.
While overseeing a team as Intel’s VP and GM of AI and high-performance compute, he found it nearly impossible to ensure that high-quality AI testing was taking place on a regular cadence.
“The lessons I drew from my convergence of experiences pointed to the need for AI testing and evaluation,” Clark continued.
The software offers organizations a “complete” view of AI risk, Clark says, in a pre-production environment that’s akin to a sandbox.
Digital asset risk infrastructure-focused Andalusia Labs, formerly known as RiskHarbor, has raised $48 million in a Series A round at a valuation “north of $1 billion,” the company exclusively shared with TechCrunch.
Alongside the fresh capital raise, Andalusia Labs opened its global headquarters in Abu Dhabi.
The $48 million will also be used to grow its product development and expand the team, said Raouf Ben-Har, co-founder of Andalusia Labs.
All aim to provide digital asset support to institutions, developers and consumers through their respective niches.
“Developers, developers, developers,” said co-founder Drew Patel.
French startup Pivot is an interesting startup story as it is scaling at a rapid pace even though startup investments are down in Europe.
After raising a $5.3 million pre-seed round in April (€5 million), the company worked on the first iteration of its procurement tool over the summer.
And feedback has been so great that Pivot is raising another $21.6 million (€20 million) in a new Series A round from its existing investors — and in particular Visionaries, Emblem, Anamcara and Oliver Samwer.
I already wrote a lengthy description of Pivot, so I also encourage you to read my previous article on the startup.
But in short, Pivot is a modern spend management solution that supposedly works better than Oracle NetSuite’s procurement component or Coupa.
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