The Depop acquisition gives eBay access to Gen Z shoppers-90% of Depop's users are under 34-but the company needs to fund that growth by cutting costs elsewhere. EBay is essentially trading current employees for future market position-a risky move that shows how intense the e-commerce competition has become.
On today's MadTech Daily, we cover TikTok using Pixels to track performance beyond its platform, Amazon launching Prebid Adapter Beta to connect ad demand, and UK Lords backing social media ban for under-16s. OpenAI confirmed it will begin testing ads in ChatGPT, marking a significant shift in how the AI assistant is monetised. The ads will be trialled with free users in the US, appearing in clearly labelled placements above or below chatbot responses, while paid tiers remain ad-free.
Indian quick commerce startup Zepto said it has raised $400 million in a funding round led by a new investor, California Public Employees' Retirement System (CalPERS), a U.S.-based pension fund. The round, which is a mix of primary and secondary investment, also has participation from existing investors, including Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners. After this funding, the company plans to go public next year.