TechTaffy

tech:

taffy

Intel Capital Invests In E-Commerce Sites Coquelux, Fashion.me

By TechTaffy Desk

[Techtaffy Newsdesk]

Intel Capital says it has invested in Brazilian fashion social network Fashion.me and online fashion purchase club Coquelux.

Fernando Martins (President, Intel Brazil):  Brazil is currently the third largest PC market in the world and its citizens spend more time connected to the Internet than in any other country.

Fashion.me (São Paulo) is a social e-commerce platform where members can select from more than two million popular labels and designers featured on the Fashion.me website to create customized looks and share them with friends and fashion experts in the Fashion.me social network.

Coquelux (São Paulo) is an online shopping club that caters towards premium and luxury markets, featuring fashion, home decoration, beauty, cooking, technology and entertainment products. Coquelux gives members exclusive access to flash events where they can purchase desired labels with discounts ranging from 30-90% off.

Since officially entering the region in 1999, Intel Capital has invested approximately $140 million in roughly 40 companies across Latin America, with approximately $75 million in 25 Brazilian companies. In 2011, Intel Capital invested in five Brazilian companies (including these two companies) and also expanded its local investment team to four professionals.

Just in

IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.
Industry

Square expands offline payments globally

Payment processing company Square has announced the expansion of its offline payments feature to all hardware devices and countries.
Around the web

U.S. bans noncompete agreements for nearly all jobs — NPR

The Federal Trade Commission narrowly voted Tuesday to ban nearly all noncompetes, employment agreements that typically prevent workers from joining competing businesses or launching ones of their own, writes Andrea Hsu.