TNB Tech Minute: Amazon Plans New Service to Take On Chinese Rivals

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.6 • 1.6K Ratings

🗓️ 27 June 2024

⏱️ 2 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Plus, a battery startup that says it can help electric vehicles charge faster raises $375 million. And Goldman Sachs will finish rolling out its first generative artificial intelligence tool across the firm by the end of the month. Zoe Thomas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:23.0	That's Shopify.
0:24.0	CoDeK slash Special Offer.
0:26.0	Here's your Tn B Tech Minute for Thursday June 27th.
0:32.0	I'm Zoe Thomas for the Wall Street Journal. Amazon plans to launch a service focused on shipping
0:38.3	unbranded fashion wear and household products from China.
0:41.8	That's according to a slide presentation viewed by the
0:44.4	Wall Street Journal from an invite-only meeting that Amazon held with Chinese
0:48.5	merchants yesterday. The move comes as Amazon faces growing competition from low-cost e-commerce platforms, Temu, and Sheehen.
0:56.9	Amazon said it would ship the products directly from China to consumers in the U.S.
1:01.6	These products typically have been routed through
1:03.9	Amazon's US warehouses to US customers. An Amazon spokesperson didn't
1:08.9	elaborate on plans for the new channel but said the company is always exploring new ways to work with
1:14.3	sellers. We exclusively report that Battery Start-Up CELA has raised
1:19.1	375 million dollars from investors such as Tro Price and Sutter Hill Ventures.
	...

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