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Amazon Aggregator Used This Pitch Deck To Raise $170 Million

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Amazon Aggregator Used This Pitch Deck To Raise $170 Million
  • Accel Club joins a host of other startups competing to buy and scale popular Amazon brands.
  • The Amsterdam-based company has just raised a $170 million Series A in equity and venture capital.
  • Insider got an exclusive look at the pitch deck that convinced investors.

An e-commerce startup that buys and scales Amazon brands has raised $170 million in new funds in a mix of equity and venture capital.

Amsterdam-based Accel Club joins a host of newly emerged startups that are aggregating and growing Amazon brands following an e-commerce boom during the pandemic.

Co-founders and serial entrepreneurs Max Firsov, CEO, and Nick Tuzenko, MD, were inspired by American heavy hitter Thrasio and decided to take a shot at the market in 2021.

Firsov’s previous food delivery startup was bought by Yandex – the Russian Google equivalent – where he stayed to lead the foodtech services. Tuzenko, meanwhile, is the former director of Busfor, a bus transportation marketplace acquired by BlaBlaCar in 2019.

This time, the couple doesn’t see an exit on the horizon anytime soon. “We were looking for something that we can invest 10 to 20 years of our lives in, because we have the ambition to build a global player.”

The Amazon seller aggregation market is growing in popularity with three-year-old Thrasio reportedly in talks with going public through a SPAC deal valued at a staggering $10 billion. However, Firsov expects “a lot of failures” in the next two years.

“Some players are very aggressive,” he said. “We see some deals that our competitors are doing and we would never do that. We see them fail after that, after the deal is closed. In execution, build, operations. It’s a pretty tough undertaking – not all players will survive. “

Firsov added that they were confident entering the market because the pair already had experience building marketplaces and they know “how hard it is inside”.

The startup currently sells 1,100 items on seven marketplaces, it said. It has targeted the US market but will use the fresh money to get into Europe and China.

While Accel Club primarily focuses on buying and growing existing brands, with about 60% of its revenue coming from Amazon versus other platforms like eBay, the co-founders hope to launch brands and products of their own as well.

As part of deals, sellers remain advisors or consultants and receive two earn-out payments over two years, which is linked to the success of the brand. Accel Club will include teams of salespeople who have them, with a three to six month trial period to ensure individuals fit into the existing culture.

The startup, which started as a team of two in February, has grown to about 100 people and plans to get another 100 people on board.

While many existing aggregators are led by former Amazon sellers or executives, the co-founders want a mix of ecommerce experts and otherwise. “It’s like fingers on your hand — they have to be different sizes,” Firsov said.

“Amazon is also changing a lot,” Tuzenko added. “In three to six months, a lot of knowledge or expertise is simply outdated. What we really care about is whether people really fit our culture.”

The Series A equity financing was led by Italian investors Redseed, with the participation of fledgling lenders Flyer One Ventures. Meanwhile, debt financing was led by Europe’s North Wall Capital from the firm’s dedicated e-commerce lending strategy.

Accel Club will also use the money to invest in automating its processes.

Check out the pitch deck it used to secure the final round below.

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Aramark chooses stake in US multi-concept operator Starr Restaurants

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Aramark to pick stake in US multi-concept operator Starr Restaurants
Aramark chooses stake in US multi-concept operator Starr Restaurants
The partnership between the two companies is expected to fuel culinary innovation. Credit: Nenad Maric/Pixabay.

Aramark, a Philadelphia food services, facilities and uniforms provider, has agreed to purchase a minority stake in local company Starr Restaurant Organization (Starr Restaurants).

The move is part of a strategic alliance between the two companies.

The partnership with Starr Restaurants, a multi-concept operator, is expected to support culinary innovation and enhance the hospitality experience for Aramark customers.

It is also expected to create joint business development opportunities for both companies.

Marc Bruno, Chief Operating Officer of Aramark US Food and Facilities said, “Aramark and Starr Restaurants are both rooted in a passion for service and in providing memorable experiences for our customers and customers.

“Through this strategic partnership, we look forward to strengthening Aramark’s culinary authority by infusing our kitchens and concepts with the creativity and innovation that Starr Restaurants is known for.”

In addition, the partnership will enable Aramark to operate certain Starr Restaurants concepts and brands through an exclusive licensing agreement.

This arrangement is expected to help Starr Restaurants increase exposure through Aramark’s customer network, which includes business dining, sports and entertainment and higher education.

The deal with Starr Restaurants is part of Aramark’s growth strategy to develop strategic relationships and improve the customer experience.

It will also create space for knowledge sharing between culinary teams and senior leadership.

Starr Restaurant Organization founder and CEO Stephen Starr said, “This partnership is a unique opportunity for both Starr Restaurants and Aramark. It’s a great opportunity to bring my two career passions together with an industry leader like Aramark.

“The company’s impressive and consistent growth and its deep commitment to providing quality hospitality experiences make it the perfect foodservice partner for Starr Restaurants.”

In another recent development, delivery kitchen operator Reef Technology bought 2ndKitchen, a virtual kitchen for hotels and other hospitality businesses.

Under the agreement, the existing businesses of the two companies will be consolidated under the Reef brand and operate under Reef’s Hospitality unit.

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Rob Burgess van Taup sailed home from Australia after MIQ lottery failed

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Rob Burgess van Taup sailed home from Australia after MIQ lottery failed

Rob Burgess (right) came back to NZ on a boat after three months of failed attempts to get into MIQ while in Australia. Pictured at home in Taupō with children Charlotte and Liam.

A man from Taup, fed up with the “soul-destroying” MIQ lottery, found another way to return to New Zealand.

Rob Burgess was part of a group that came home on a 56-foot power catamaran on

.

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RPT UPDATE 3 Rohingya Refugees Sue Facebook for $150 Billion Over Violence in Myanmar

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GlobeX-gegevens om de Epoch Times Spaanstalige YouTube-programma's te sponsoren - theeopchtimes.com

(Repeats story without text changes)

By Elizabeth Culliford

Dec 6 (Reuters) – Rohingya refugees from Myanmar are suing Meta Platforms Inc, formerly known as Facebook, for $150 billion over allegations that the social media company has failed to act against anti-Rohingya hate speech that has contributed to violence.

A US class-action lawsuit filed Monday in California by law firms Edelson PC and Fields PLLC argues that the company’s failure to control content and the platform’s design contributed to the real-life violence facing the Rohingya. . .com/investigates/special-report/myanmar-facebook-hate community.

In a concerted action, British lawyers have also sent a letter of formal notice to Facebook’s London office.

A Meta spokesperson said in a statement: “We are shocked by the crimes committed against the Rohingya people in Myanmar. We have built a dedicated team of Burmese speakers, banned the Tatmadaw (Myanmar’s military), disrupted networks that manipulate public debate and take action against harmful misinformation to protect people. We have also invested in Burmese language technology to reduce the prevalence of infringing content.”

The company previously said it was “too slow to prevent misinformation and hatred” in Myanmar.

A spokesman for the Myanmar junta did not return calls from Reuters to comment on the legal action against Facebook.

In 2018, UN human rights researchers said the use of Facebook had played a key role in spreading hate speech that fueled the violence.

A Reuters investigation https://www.reuters.com/investigates/special-report/myanmar-facebook-hate that year, cited in the US complaint, found more than 1,000 examples of posts, comments, and images depicting the Rohingya and other attacking Muslims on Facebook. Almost all were in the main local language, Burmese.

The swear words included posts calling the Rohingya or other Muslims dogs, maggots and rapists, suggesting that they be fed to pigs, and urging them to be shot or exterminated.

The posts were tolerated despite Facebook rules specifically prohibiting attacking ethnic groups with “violent or dehumanizing language” or comparing them to animals.

Facebook has said it is protected from liability for content posted by users by a US internet law known as Section 230, which states that online platforms are not liable for content posted by third parties. The complaint says it wants to apply Myanmar law to the claims if Section 230 is raised as a defense.

While US courts can apply foreign law to cases where the alleged harm and activities by companies occurred in other countries, two legal experts interviewed by Reuters said they were not aware of a successful precedent for foreign law invoked in lawsuits against social media companies where Section 230 protections may apply.

Anupam Chander, a professor at Georgetown University Law Center, said relying on Myanmar law was not “inappropriate”. But he predicted that “it is unlikely to be successful,” saying that “it would be strange if Congress ruled out actions under US law but allowed them to proceed under foreign law.”

More than 730,000 Rohingya Muslims fled Rakhine state in Myanmar in August 2017 after a military crackdown that refugees say involved massacres and rapes. Rights groups documented murders of civilians and the burning of villages.

Myanmar authorities say they fought an insurgency and deny committing systematic atrocities.

The International Criminal Court has opened a case over allegations of crimes in the region. In September, a US federal judge ordered Facebook to release data from accounts linked to anti-Rohingya violence in Myanmar that the social media giant had shut down.

The new class-action lawsuit references claims by Facebook whistleblower Frances Haugen, who leaked a cache https://www.reuters.com/technology/facebook-whistleblower-says-transparency-needed-fix-social-media-ills- 2021-12-03 from internal documents this year that the company does not monitor abusive content in countries where such expressions are likely to do the most damage.

The complaint also cites recent media reports, including a Reuters report https://www.reuters.com/world/asia-pacific/information-combat-inside-fight-myanmars-soul-2021-11-01 last month, that Myanmar military used fake social media accounts to engage in what is commonly referred to in the military as “information battle.”

Mohammed Taher, a refugee living in the camps in Bangladesh where more than a million Rohingya live, said Facebook was widely used to spread anti-Rohingya propaganda.

“We are happy with the move,” he said on the phone.

(Reporting by Elizabeth Culliford in New York. Additional reporting by Poppy McPherson, Ruma Paul and Steve Stecklow. Editing by Gerry Doyle, Nick Macfie and Rosalba O’Brien)

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