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Fitbit Acquires Vector
A month after acquiring Pebble, Fitbit is making another smartwatch acquisition. The company is purchasing startup Vector for its software platform and design team, not its hardware, according to TechCrunch.
Another Nod for London: Snapchat
Snapchat parent Snap Inc., said on Tuesday that its London office has become the company's international headquarters. Snapchat is the latest in a string of big names in the digital ecosystem—among them Facebook, Google and Apple—to announce London-based initiatives since last summer's vote calling for the UK to exit the European Union. Snap's only other office in Europe is in Paris.
Indian Online Marketplace Flipkart Taps CEO
Flipkart, one of India's biggest homegrown ecommerce firms, announced yesterday that it had named Kalyan Krishnamurthy its new CEO. Krishnamurthy replaces Binny Bansal, one of Flipkart's founders, following a number of high-level exits at the company. Bansal will become group CEO. eMarketer estimates that retail ecommerce sales in India, excluding travel, will total $23.4 billion this year.
OOH Ad Spending Grew at Fastest Pace in Nine Years
PQ Media reported 2016 worldwide out-of-home (OOH) ad spending at $49.23 billion, up 6.2% from the previous year and growing at the fastest pace since 2007.
US Car Buyers Care About Tech
A new report from Autotrader, a car shopping site, reveals that US car buyers want in-vehicle safety technologies such as blind-spot detection and forward-collision warning in addition to media and entertainment features. Almost three-quarters of respondents said they would be willing to pay more for these kinds of features.
Alibaba Bids to Take Brick-and-Mortar Retailer Intime Private
Alibaba unveiled a plan to take a controlling stake in Chinese department store chain Intime Retail. Alibaba will purchase enough stock to bring its ownership stake to 74% in a deal worth $2.6 billion. Alibaba plans to use Intime Retail to expand its online-to-offline offerings.
—Rahul Chadha, Rebecca Chadwick, Rimma Kats
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