TC Roundup: Amazon to offer loans to sellers in China, 7 other countries
Amazon to offer loans to sellers in China, 7 other countries: Amazon.com Inc will launch its business loan program for small sellers later this year in eight more countries including China, where credit is becoming a key factor in competing for new vendors and grabbing market share.
Until now, the e-retailer has offered the service only in the United States and Japan. Amazon Lending, founded in 2012, now plans to offer short-term working capital loans in other countries where it operates a third-party, seller-run marketplace business, the head of Amazon Marketplace, Peter Faricy, told Reuters. (Reuters)
A cap on the number of Uber cars in NYC?: A bill that is being proposed to the New York City Council could put a temporary cap on the number of for-hire vehicles in the city, potentially affecting companies like Lyft and Uber. (Tweet this)
Next week the City Council will hear the bill that hopes to analyze the effect of the ride-sharing economy on traffic congestion and the environment. The cap would last until the end of the study or August 2016. (CNBC)
Silicon Valley: Inside the winners' circle: When he last turned to investors to raise cash a year ago, tech entrepreneur Ken Lin thought a stock market listing was looming on his company's horizon. A rite of passage for many capital-hungry businesses, it seemed only a short period of time before he would follow the well-trodden path to Wall Street.
Last week, however, Mr Lin was back instead for another $175m round of private money for Credit Karma, the personal finance website that he co-founded. "There is a lot more you can do as a private company," says Mr Lin, echoing the views of a generation of tech entrepreneurs who have learnt to shun the public stock market for as long as they can. (Financial Times)