In today’s top news, Krispy Kreme is eyeing a $4 billion valuation in its initial public offering (IPO), and Facebook will expand its Shops feature to WhatsApp and Facebook Marketplace. Plus, McDonalds is rolling out its loyalty program nationwide in July.
Krispy Kreme is seeking to raise between $560 million and $640 million at a near $4 billion valuation as it moves forward with its planned IPO. The donut chain had a banner 2020, fueled in part by the public’s cravings for sugary treats during the pandemic lockdowns.
Facebook is expanding Shops to Marketplace and WhatsApp, allowing companies in some nations to highlight their Shop in WhatsApp, and, in the United States, letting companies take Shops merchandise into Marketplace.
McDonald’s, something of a latecomer to the loyalty and rewards game, said its loyalty program will be available all across the country starting July 8. This focus on promoting digital ordering channels goes along with the company’s Accelerating the Arches growth strategy announced in November 2020, in which the company announced that it would double down on “the 3Ds” (digital, delivery and drive-thru) to drive sales.
Mastercard has unveiled a new credit card in partnership with real estate startup Bilt Technologies that it says will help renters make down payments on a future home. The can be used at any rental unit or apartment with no fees, letting customers earn points for things like travel, rent credits and down payments on a home.
Chief financial officers have a new take on the importance of digitizing payments flows — and it’s about the lifetime value of their customers. In The Strategic Role Of The CFO, PYMNTS surveyed CFOs at 400 U.S. firms and found that 93 percent of are digitizing their accounts payable (AP) and accounts receivable (AR) processes to improve customer and vendor satisfaction.
Taps and swipes signal whether an online visitor is a fraudster or a legit customer struggling to complete a transaction. In this month’s Monetizing Digital Intent Tracker, Harris Chen, senior product manager at identity decisioning platform Alloy, says that behavioral analytics do both — prevent fraud and boost conversion by pinpointing where consumers abandon and why.
Warby Parker submitted a confidential filing to the Securities and Exchange Commission (SEC) to take its direct-to-consumer company public. The filing signals that management is looking to ride the tailwinds of the great digital shift to eCommerce — and, perhaps, of the consumers’ continuing propensity to spend.