Recommended Reading: June 28, 2017 - eMarketer
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Recommended Reading: June 28, 2017

eMarketer’s scan of the key developments of the day, plus data to make sense of it all

June 28, 2017

Target Pilots Next-Day Delivery Service

Target is testing out its new next-day home delivery service, Target Restock, in Minneapolis. The company first announced the service back in May. According to TechCrunch, Target Restock will let shoppers fill a box with up to 45 pounds of items for $4.99. Sound familiar? Amazon offers the same service for a flat rate of $5.99.

Facebook Reaches 2 Billion Monthly Users

In a post on Tuesday, Facebook CEO Mark Zuckerberg announced that the social media giant now has 2 billion monthly users. “We’re making progress connecting the world, and now let’s bring the world closer together. It’s an honor to be on this journey with you,” he wrote.

Ofo Takes the Lead in China’s Bike-Sharing Market

Bike-sharing service Ofo is the market leader in China with a 65% share, according to US-based research firm 7Park Data. New bike-sharing services in the country have experienced sharp growth recently, reversing the trend of consumers relying increasingly on private cars for transportation in urban areas. 7Park Data also reported that users of Ofo and rival service Mobike spent an average of about 1 hour on their rented bicycles.

Uber Now Lets You Request a Ride for Someone Else

Uber is introducing a new feature within its app that lets users request and pay for a ride on behalf of another person, Business Insider reports. When users open up the app, they’ll have an option to select themselves or another person as the passenger.

Yoyo Wallet Gets Cash Infusion

London-based fintech startup Yoyo Wallet has raised £12 million ($16.2 million) in Series B funding from an investment group led by Dusseldorf, Germany-based food wholesaler and retailer Metro AG, according to Tech City News. Founded in 2013 and officially launched in 2014, Yoyo Wallet is a third-party provider of branded mobile payment and loyalty card apps to retailers like UK coffee shop chain Caffè Nero. It also operates a mobile payment network under its own name.

Naspers Ups Its Flipkart Holdings

South Africa-based conglomerate Naspers just dropped another $71 million investment into India’s ecommerce platform Flipkart. That raises its stake in the company to 16%. According to a financial filing from Naspers, Flipkart controlled 55% of the ecommerce market in India in March, as measured by gross merchandise value (GMV). eMarketer estimates retail ecommerce sales in India will total $22.4 billion this year.

BT’s ‘Phone Box of the Future’ Hits London

UK telecom BT has unveiled the first in a new series of digital service kiosks, designed to replace some of the company’s existing sidewalk payphones, on London’s Camden High Street. Featuring free public Wi-Fi with speeds of up to 1 Gbps, free mobile and landline phone calling, device charging and other services, BT’s InLink units are being introduced in partnership with Intersection, the company behind New York’s similar LinkNYC system.

—eMarketer editors

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