sales

“Fisker Incurs Financial Miscalculations: Customer Payments Go Unaccounted For Over Several Months”

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Fisker temporarily lost track of millions of dollars in customer payments as it scaled up deliveries, leading to an internal audit that started in December and took months to complete, TechCrunch has learned. The EV startup was ultimately able to track down a majority of those payments or request new ones from customers whose payment methods had expired. Red flags raisedFisker has warned investors since last year about problems with its internal accounting practices. Fisker’s poor internal procedures have created problems beyond keeping track of payments. Fisker hired contractors in February to help resolve the title and registration problems, but the backlog was immense, according to the people.

Poland imposes fine on Amazon for deceptive dark design tactics

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Amazon has been fined in Poland for misleading consumers about the conclusion of sales contracts on its online marketplace. For Amazon, the conclusion of a sales contract only occurs once it has sent information about the actual shipment. “Thus, Amazon misleads consumers as to the moment of conclusion of the sales contract,” the authority wrote [in Polish; this is a machine translation]. It also found the e-commerce giant failed to provide information about the “Delivery Guarantee” in the purchase confirmation sent to shoppers. Amazon was contacted for comment on the sanction but at the time of writing it had not responded.

Possible rephrasing: Potential Impact of DOJ Lawsuit on Apple Watch

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The Apple Watch gets some face time in the filing, as well. The suit rightly notes that the Apple Watch is “only compatible with the iPhone” – a longstanding complaint among Android users interested in picking up what is far and away the market share leader. Apple is not, however, alone in ensuring that certain functionality only operates as stated with first-party hardware, however. The Apple Watch has historically been even more dominant in its respective category than the iPhone in the global market. Should the DOJ’s suit force the company to open Apple Watch functionality, it would not only limit watch-based iPhone sales, it would also potentially open the device up to Android users, which, in turn, could have a positive impact on sales.

“Government Pushes Electric Vehicle Agenda as India’s Two-Wheeler Startups Skyrocket to 150+ Players”

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The number of startups in India’s electric two-wheeler market has surged to over 150 from 54 in 2021, driven by government incentives to promote clean vehicles and cut oil imports, according to a new analysis. “Most are competing in the mainstream, and 85% of the 65 models launched last year were such products: high-speed as against speed and range-constrained products, which used to be a feature of the startups,” Bernstein analysts wrote. The government has offered incentives under its FAME II scheme, which provides subsidies to buyers and was recently extended to 2024. Bernstein’s analysis found low barriers to entry, with electric two-wheelers built using outsourced models and readily available components. Most established automotive companies have been granted PLI while only a few startups qualified, potentially providing a cost advantage for major incumbents, Bernstein said.

“Telegram Secures $330M in New Capital via Bonds Offerings”

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Telegram founder and CEO Pavel Durov said on his channel today that the company secured $330 million in investment through bond sales last week. “This bond offering was oversubscribed, and we were delighted to have global funds of the highest caliber with impeccable reputations as participants. The maturity for the bonds is either 2026 or when Telegram goes public, whichever is earlier. The chat app, which has more than 900 million users, issued bonds worth $210 million last year. Earlier this month, the company announced that personal users can convert their accounts to business accounts by paying a subscription fee.

“AI Assistants by Quilt: Empowering Solution Teams”

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But despite this being the case, rarely are solutions teams adequately staffed and resourced, according to entrepreneur Dan Chen. So with his friend Michael Graczyk (with whom Chen also co-founded Hero), he created Quilt, a platform that hosts AI assistants for solutions sales teams. Surveys show that many businesses are concerned about the privacy and security risks associated with generative AI. But the majority believe generative AI has the potential to boost productivity by streamlining existing tasks. “Given the kinds of customers Quilt is working with, we’re well-positioned to be the preferred AI partner for solutions teams,” Chen said.

Navigating Series A Pitfalls: A Discussion with Lightspeed’s Alex Kayyal at TechCrunch Early Stage 2024

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There is perhaps no bigger jump for a startup to make than from the incubatory seed stage to its Series A round. Enter Lightspeed Venture Partners’ Alex Kayyal, who is coming to TechCrunch Early Stage 2024 to discuss how startups can avoid common pitfalls on the path to raising their own Series A. Not that raising an A round was ever easy — how many times have we discussed a Series A crunch at TechCrunch over the years? And, of course, as with all TechCrunch Early Stage events, he’ll answer questions directly. Is your company interested in sponsoring or exhibiting at TechCrunch Early Stage 2024?

New Software and Reduced Prices: Chevy Blazer EV Sales Reinstated by GM

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General Motors has resumed sales of the Chevrolet Blazer EV — and at a cheaper price — more than two months after the automaker pulled the vehicle over software problems. The company temporarily halted sales of the Blazer EV in December after early customers reported problems with the SUV’s infotainment screen and charging at DC fast charging stations. GM said in a statement that the company “made significant software updates that will improve features and functionality to deliver on the high expectations of our customers. Existing Blazer EV owners will have to bring their car into a GM dealership for a software update to address any potential problems going forward. The company says it has improved its quality testing and software processes to prevent similar problems in the future.

Target’s Amazon Prime Competitor: $49/Year Launch Announcement

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During Target’s investor event on Tuesday, the retail giant announced it is launching a paid membership program, Target Circle 360, on April 7 to compete with rivals Amazon and Walmart. Target Circle 360 acts as the paid version of its free loyalty program Target Circle, which has existed since 2019. Additionally, it’s renaming Target RedCard credit and debit cards to Target Circle, which will now give customers an extra 5% off purchases. However, if you have a Target Circle credit card, it will still cost $49. Walmart also sees success from its paid membership, Walmart+, which debuted in 2020 for $98/year.

Construction of small business B2B commerce platform by Catalog

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When you think about commerce platforms, chances are the first names that come to mind are big names like Adobe Commerce or Salesforce Commerce Cloud. That’s why a French startup called Catalog wants to build a software-as-a-service product that seamlessly manages B2B sales across several sales channels. But these tools don’t necessarily work well for B2B companies. This way, the company hopes it can handle the majority of B2B orders for companies that have decided to use Catalog. By focusing on small and medium businesses, Catalog could start offering a wide range of services that are specifically tailored for these small manufacturing and commerce companies.