Meta Platforms will discontinue its work-focused Workplace app as the company shifts its focus on building artificial intelligence and metaverse technologies, the Facebook parent said on Tuesday. Workplace will be shuttered starting June 2026 for customers but Meta will continue to use it as its internal messaging board, the company said, adding users can continue to access the product until August 2025. “We are discontinuing Workplace (to) focus on building AI and metaverse technologies that we believe will fundamentally reshape the way we work. Over the next two years, we will provide our Wo ..read more

China’s Alibaba Group Holding reported an 86 per cent plunge in fourth-quarter profit on Tuesday primarily due to valuation changes from equity investments, pushing its US-listed shares down almost 6 per cent in early trading though revenue beat forecasts. It also announced it would revive a plan first floated in 2022 to upgrade its secondary listing in Hong Kong to a primary listing, while retaining its primary listing in New York. It aims to complete this dual-primary listing by August. China’s largest e-commerce group by market share has had a tumultuous year since announcing the biggest sh ..read more

Fast-fashion giant Shein is stepping up preparations for a London listing after its attempt to float itself in New York faced regulatory hurdles and pushback from US lawmakers, two people with knowledge of the matter said. The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering (IPO) venue and file with the London Stock Exchange (LSE) as soon as this month, said one of them. Shein, which according to one of the sources was valued at $66 billion in a fundraising last year, started engaging with the London-based teams of its financial ..read more

The Warehouse Group has confirmed it will shut down TheMarket.com by late June. “We are disappointed TheMarket.com did not meet our aspirations, and we will close the front-end of the platform,” said Nick Grayston, The Warehouse Group CEO. “However, we will use the engine we have built and harness the learnings and innovation we have acquired to continue to power the extended third-party offering for The Warehouse website and app.” The confirmation comes as the company reported its fiscal third-quarter sales fell 9.2 per cent year over year to $695.5 million. The Warehouse sales declined 8.1 p ..read more

Video sharing platform Rumble said on Monday it has sued Google, arguing the tech giant has engaged in anticompetitive practices across its digital advertising products and sought damages in excess of $1 billion. The suit alleges Google has monopolised the ad stack “by buying companies up and down the chain, concurrently representing both ad buyers and sellers, while also running the exchange that connects those parties.” Rumble has accused Google of maintaining its monopoly by reaching an agreement with Meta’s Facebook to prevent Facebook from offering alternatives to Google’s ad tech ecosyst ..read more

Wasted digital advertising spending reached $97.1 million in the first quarter, according to Next&Co’s quarterly Digital Media Wastage report. Based on 33 audited companies, Next&Co found that the retail sector had the highest amount wasted on digital advertising at $28.1 million. Although the figures are 3.85 per cent lower than the previous corresponding period, Next&Co emphasised that the data shows brands are still wasting a significant amount on digital advertising. The finance sector came in second, wasting $26.2 million, followed by insurance at $12.6 million. “Wasted advert ..read more

Amazon launched its online shopping service in South Africa on Tuesday, challenging a number of online retailers dominated by Naspers’ Takealot.com. Africa’s most advanced economy is usually seen as a good entry point for companies to expand into the continent and Amazon could be doing the same, analysts have said in the past. The launch of its service comes at a time when South Africa has seen a sharp rise in online shopping after the pandemic created an opportunity for e-commerce to finally take hold, with retailers doubling down on investments in response. Amazon.co.za will offer same-day d ..read more

Barbeques Galore has launched a new B2B storefront to expand into fresh markets and grow the business. The retailer has a footprint of 90 locations around Australia, and operates an established wholesale and export business with 200 independent distributors in Australia and worldwide customers. Angus McDonald, CEO at Barbeques Galore, said “We’ve always strived to be the ultimate destination for all things barbeques and outdoor living. However, development of wholesale opportunities to extend our leading portfolio of brands into other markets has required a significant step up in our B2B capab ..read more

Australian online personal styling service Threadicated has launched its Curated Collection, an AI technology to provide a new personalised shopping experience.  The technology, where customers can access selected fashion options without paying a monthly charge, employs artificial intelligence to deliver customised apparel recommendations, allowing people to discover and shop from a store that is matched to their style and budget. Curated Collection offers a selection of items for clients to view and purchase based on the information supplied in their style profiles and preferences. The p ..read more

BigCommerce, the e-commerce software maker that used to be backed by SoftBank Group, is exploring a sale after attracting takeover interest, people familiar with the matter said on Tuesday. BigCommerce has become an acquisition target after losing 90 per cent of its market value in the four years since its initial public offering. It has struggled to compete against larger rival Shopify. The Austin, Texas-based company has asked investment bank Qatalyst Partners to solicit interest from potential buyers that include private equity firms, the sources said. The discussions are at an early stage ..read more