The company helps sellers by mining data from Amazon’s API and sharing crucial metrics that are hard to find, such as ways to determine which customers will become repeat shoppers. Kwontified also helps retailers with a forecasting function so they can keep the correct inventory on hand, fights counterfeit merchandisers and sets retailers up to expand to international e-commerce marketplaces.
The company, a unit of Toshiba Corp, announced its bankruptcy earlier this year amid huge losses.
The completion of the project could boost Pakistan's economic development and further promote China-Pakistan economic and trade cooperation.
The company was founded by?Apoorva Mehta, a former software design engineer from Amazon’s Fulfillment Optimization division. But it doesn’t use big trucks and massive warehouses to deliver groceries to their customers. Instacart relies on “personal shoppers” – contractors armed with special training and a smartphone app – to pick up deliveries from local grocery stores like Safeway, Costco and Whole Foods and deliver them to a user’s door.
The company's internet service will be available in the northern United States and Canada at some point this year, with global coverage planned for 2021.
The company's listing on the NASDAQ also adds credibility to its operations, Lee pointed out, and "doing business with us is just like doing business with a US company".
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The company statement said that Wang Zhenhui, senior vice-president of JD.com and head of fulfillment operations, would serve as CEO of JD Logistics.
The company said it would include AI among its top priorities in order to advance its business through cutting-edge technologies.
The concentration pointed to a continued trend of more resources flowing to a small number of leading companies amid an industrial shake-up.
The company's overseas assets stood at 31.8 billion yuan by the end of last year, accounting for 7 percent of its total assets, which points toward further growth potential of its international business.