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October 9 2020

Dropshipping is a business model that allows entrepreneurs to start an online business and sell products to their buyers without ever actually stocking the items themselves. Instead, when a dropshipping store sells a product, it purchases the item from a third party and has it shipped directly to the customer.

Many Americans are launching side hustles to supplement diminished or lost income from layoffs or furloughs. According to a TD Ameritrade survey this spring, 64 percent of Americans dealing with unemployment or reduced hours either had a side hustle or planned to start one. One increasingly common avenue is to set up an eCommerce store through a platform like Shopify. To do so, individuals use dropshipping, which allows them to sell a product directly from the manufacturer without needing to bear the cost and maintenance of storing inventory. It’s an obvious solution for those running a business from their homes.

When it comes to dropshipping, having the ability to utilize online platforms such as Shopify will ensure that you can quickly respond and fulfill online orders with ease – quickly increasing your online earning potential.

In the Spotlight - E-Commerce Platforms

Used by large eCommerce companies, Magento is also a very scalable site builder for eCommerce startups. It can carry up to 500,000 products on a single site and handle more than 80,000 transactions in an hour. It also has built-in upsells and cross-sells that maximize your site’s revenue potential.

Aside from being the best, user-friendly eCommerce platform, BigCommerce allows you to use all shipping providers in the market. Some website builders usually partner with specific courier services, but not Big Commerce. They also have a unique ‘Make an Offer’ button, which allows consumers to haggle if the price is too steep.

Being a more affordable eCommerce solution, 3dcart has been a top eCommerce platform with over 22 years of excellent track record. Their features range from SEO, social media assimilation, fast loading speed, mobile-friendliness to built-in CRM, newsletters, email, and more. They even provide a 15-day free trial to let startups see beyond its face value.

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Waymo opens up driverless ride-hailing
Waymo hit a major milestone today: It’s offering fully driverless rides to (some) members of the public. While the Alphabet-owned company has offered plenty of self-driving rides before, they usually came with a human in the driver’s seat for safety. 
[Read more].
Amazon's first fully electric delivery vehicle with Rivian 
Amazon has received delivery of its very first, custom-built EV delivery van — a vehicle built through its partnership with electric transportation startup Rivian. [Read more].
Since last week, PrivCo has added:
2030 Companies | 249 Funding Activities | 68 M&A Deals

Funding & Deal Highlights:

Instacart raised $200M investment led by D1 Capital & Valiant Peregrine Fund.  The delivery service is now valued at $17.7 BN (post-money valuation)

Flame Biosciences, an NYC-based clinical-stage biopharmaceutical company focused on developing antibodies to treat cancer and inflammatory diseases, completed a $100 MM common stock financing.

Virogin Biotech, a Vancouver company developing oncolytic virus immunotherapies, raised $62 MM in a Series C financing from China investors. Virogin has R&D facilities in Vancouver and Shanghai. Earlier this year, Virogin started a Phase I trial in Australia of its lead drug, VG161, an attenuated herpes simplex virus type 1 (HSV-1), that expresses cytokines to boost innate and adaptive immune responses inside the tumor. The C round was co-led by CMG-SDIC Capital and CDH Investments.

Payrix, a Frisco, Texas-based embedded fintech company, extended its Series A financing to over $50 MM. The round was led by Blue Star Innovation Partners and Providence Strategic Growth, the growth equity affiliate of Providence Equity Partners.

Medication access startup ScriptDrop closed on an oversubscribed $15 MM round of Series A funding led by the Ohio Innovation Fund.

National insurance broker NFP has acquired the Austin, Texas-based employee benefits firm, Hutch Hubby & Associates

Walt Disney Co. has sold TrueX Inc., an advertising-technology company it absorbed as part of its $71.3 BN acquisition of 21st Century Fox assets in 2019, to Gimbal, a company that provides location-based technology and ad services.

Trilantic North America, a leading private equity firm, announced today that it has closed a substantial minority investment in Rarebreed Veterinary Partners, a technology-enabled veterinary services platform. Founded in 2018 in Portland, Maine, Rarebreed is focused on taking care of the people who take care of animals, with the goal of becoming the employer of choice for those dedicating their professional lives to veterinary care. Today, Rarebreed employs more than 450 people across its footprint of 17 veterinary practices in the Northeast, including the recent acquisition of Greenwich Village Animal Hospital, its first location in New York.

Smart ridesharing solutions company Via Transportation Inc. has acquired Israeli startup Fleetonomy, according to sources close to the deal, which is estimated at $15-25 MM.

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