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Teikametrics Raises $15 Million to Extend Its AI Multi-Channel Optimization

#artificialintelligence

Teikametrics, a leading SaaS provider of AI-powered optimization for brands and sellers on Amazon and Walmart, announced the completion of a $15 million strategic funding round backed by new and existing investors. The announcement follows Teikametrics' selection as one of Walmart's first exclusive advertising optimization partners, and the addition of Srinivas Guddanti, a 14-year senior Amazon veteran, as its Chief Product Officer. "We're thrilled to lead this new round of capital in Teikametrics" Jump Capital led the round and were joined by follow-on investments from Granite Point Capital, MIT Professor of Econometrics, Jerry Hausman, and the former Head of Growth at Facebook and Uber, Ed Baker. "We're thrilled to lead this new round of capital in Teikametrics," said Michael McMahon, founding partner of Jump Capital. "The Company has grown rapidly, and the success of its proprietary AI technology for Amazon is a strong proof point for a broader ecommerce platform opportunity. The partnership with Walmart is a landmark event and we are excited to fund the expansion of the Teikametrics platform across multiple ecommerce channels."


Teikametrics raises $40M to optimize ecommerce listings

#artificialintelligence

Join executive leaders at the Conversational AI & Intelligent AI Assistants Summit, presented by Five9. Teikametrics, an ecommerce optimization platform, today announced that it raised $40 million in a series B round led by Intel Capital, GoDaddy, Centana Growth Partners, Jump Capital, Granite Point Capital, and Lydia Jett, head of ecommerce at SoftBank Vision Fund. CEO Alasdair McLean-Foreman says that the proceeds will be put toward hiring software engineers, data scientists, and ecommerce experts in addition to sales and marketing support as Teikametrics' platform scales up. There's been a surge in online sales during the pandemic. Both Amazon's and Walmart's marketplaces have expanded significantly in recent months, with Amazon Marketplace growing 60% in Q1 2021.


Amazon sets up its war rooms for Prime Day

USATODAY - Tech Top Stories

If you're looking for a good deal, we're here to help. A piñata in the Amazon conference room where Prime Day coordinators gathered in 2015 to oversee the company's first Prime Day sale. The original event was code-named piñata. SEATTLE--At Amazon headquarters here, two floors of conference rooms are outfitted as war rooms, the better to absorb the crushing blow of 85 million Prime shoppers feverishly tapping on the best slow cooker deals. Prime Day (or Prime Day plus six hours) is almost here.


Made in China -- and straight to your Amazon box

USATODAY - Tech Top Stories

David Bryant, a Mandarin-speaking entrepreneur who sold his business importing boating products from China to sell on Amazon in October of 2016 because of increasing pressures from Chinese sellers going directly to North American consumers on Amazon. SAN FRANCISCO -- Importer David Bryant says he made a good living buying boating products from China and selling them on Amazon. Then he saw the writing on the wall: the so-called "middleman" in trade between Chinese retailers and U.S. buyers was swiftly becoming a thing of the past. Bryant sold the company in October and now runs a company teaching others how to import profitably. What led him to that decision were the growing numbers of Chinese businesses that realize they can use Amazon to sell directly to global consumers, leaning on the e-tailer's infrastructure and ecosystem to handle the onerous tasks of customs, warehouses and local distribution.


Chinese sellers are selling straight to U.S. shoppers on Amazon

USATODAY - Tech Top Stories

David Bryant, a Mandarin-speaking entrepreneur who sold his business importing boating products from China to sell on Amazon in October of 2016 because of increasing pressures from Chinese sellers going directly to North American consumers on Amazon. SAN FRANCISCO – Importer David Bryant says he made a good living buying boating products from China and selling them on Amazon. Then he saw the writing on the wall: the so-called "middleman" in trade between Chinese retailers and U.S. buyers was swiftly becoming a thing of the past. Bryant sold the company in October and now runs a company teaching others how to import profitably. What led him to that decision were the growing numbers of Chinese businesses that realize they can use Amazon to sell directly to global consumers, leaning on the e-tailer's infrastructure and ecosystem to handle the onerous tasks of customs, warehouses and local distribution.