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Home»Business»How one e-commerce focused founder, Yiqi Wu of Aimerce, is thinking about Black Friday
Business

How one e-commerce focused founder, Yiqi Wu of Aimerce, is thinking about Black Friday

November 29, 2024No Comments5 Mins Read
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I don’t know about you, but Black Friday always seems a little scary to me.

And not necessarily in a fun Halloween way, either. Perhaps it’s because the stories (and urban myths) of the early 2000s about shoppers crushing big box stores are ingrained in my consciousness. (Also, not nearly as much of a discount to subject myself to a stadium-concert-like crush of humanity.)

But it’s always occurred to me that brands and retailers probably fear Black Friday (and its cousin, Cyber ​​Monday) a lot more than I ever could. It’s the ultimate double-edged sword, like a college class where the bulk of your grade is a test: Black Friday takes significant chunks of retailers’ annual revenue and kicks off the holiday shopping season.

Yiqi Wu, founder and CEO of e-commerce-focused customer intelligence startup Aimerce, says this Black Friday will be cutthroat from his vantage point.

“I think this year is very competitive because everyone is starting their campaigns much earlier than last year,” Wu said. luck. “If you look at the times when the campaigns were launched last year, it was around the beginning of November. This year, it was at the end of October. It was already Black Friday in October.”

It’s Wu’s first Black Friday as founder of Upfront Ventures-backed Aimerce, which he started in 2023 and whose clients include shoe retailer Vivaia, spice company Evermill and Bryan Johnson’s Blueprint. So while he has a lot of data, this is the first year he’s seen the madness in real time.

Wu has been surprised by the last-minute changes brands have made to their campaigns, reflecting the severity of the Black Friday turmoil as retailers try to get “as much as they can” out of the holiday. In a sense, it always has been, because the stakes on Black Friday are so high.

“If you haven’t checked the basics of how your website is performing, and how you can communicate and know your customer better any day, it’s over,” said Kobie Fuller, senior partner at Upfront Ventures. years ago he was CMO of e-commerce fashion juggernaut Revolve. On Black Friday, “if you don’t have your stuff together, it’s a major negative moment for you in terms of lost sales.”

E-commerce enablement as a sector has seen its ups and downs, particularly in terms of VC backing: In 2022, the space was left behind, but this year has seen some resurgence. But Black Friday is an opportunity for startup entrepreneurs, now and always.

“This month has been the fastest growing month since I launched the product,” Wu said. “It’s because I solve a very burning problem for people.”

See you on Monday

Allie Garfinkle
Twitter:
@agarfinks
Email: alexandra.garfinkle@fortune.com
Submit an offer for the Term Sheet newsletter here.

Nina Ajemian made the offers section of today’s newsletter. Subscribe here.

DANGERS

– for youRiyadh, Saudi Arabia-based eyewear retailer, raised $100 million in Series C funding. general atlantic led the round and joined Capital city of Badwa and Turmeric capital.

– RaidiumThe Paris-based precision radiology company raised €16 million ($16.9 million) in seed funding. New background and Kurma Partners They took turns to join The creators of the future, Galion.exe, Techmindand others.

– MovopackThe Milan-based provider of sustainable packaging for e-commerce platforms raised £2 million ($2.5 million) in seed funding. 360 Capital led the round and joined Greiner Innoventures and Techstars.

– Era VCA venture capital fund managed by Internet-based AI agents, raised $1 million in funding Samuel Muir and others.

– VEX He acquired a 70% stake CaptioKópavogur, an Iceland-based provider of multi-day travel booking technology solutions, and joined Birgir Ragnarsson, Björn Karlsson, Jóhann Ólafur Jónssonand others.

PRIVATE EQUITY

– BGF It has invested £6 million ($7.6 million). Miracle Design & PlayPlayground designer and installer based in Northampton, England.

– Jones Lake Managementprotected The capital Fort Pointacquired Water ManagementA Bluffton, Ind.-based provider of pond and lake management services. Financial terms were not disclosed.

OUTPUTS

– JD Sports Fashion acquired runningA sneaker shop in Paris, from here Equistone Partners Europe for 520 million euros ($549 million).

– Nihon Kohten It acquired a 71.4% stake Ad-TechOak Creek, Wisconsin-based developer of medical electrode devices ARCHIMATit earned 5 times its investment and maintains a 28.6% stake Ad-Tech. Financial terms were not disclosed.

– Wind Point Partners acquired Velocity Rail SolutionsDraper, Utah-based provider of locomotive fuel services A. Stucka portfolio company Stellex Capital Management. Financial terms were not disclosed.

IPOS

– Pony AIA Guangzhou, China-based developer of autonomous vehicle systems raised $260 million in an offering of 20 million American depositary shares priced at $13 on the Nasdaq. The company reported $84 million in revenue for the year ending June 30, 2024. Dr. June Peng, Toyota Motor Corporation, HongShan, Ontario Teachers’ Pension Plan Board, Dr. Tiancheng Lou, IDGand 5Y Capital back to the company

This is the web version of Term Sheet, a daily newsletter about the biggest deals and deals in venture capital and private equity. Sign up for free





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