Afternoon Coffee: Tradeshift Adds 38 New Customers in Second Quarter, Toys R Us Settles with Suppliers

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Tradeshift announced Thursday its second quarter results for 2018, noting the addition of 38 new enterprise accounts to its customer list, according to a press release. Other highlights over the last three months included a 350% increase in gross merchandise volume on Tradeshift’s platform compared with a year ago and a 315% year-over-year rise in new bookings.

“It’s amazing to see our strategy work across all areas of our business,” said Christian Lanng, CEO and co-founder of Tradeshift. “We took a big bet that the industry was ready for innovation, and we’re proud that some of the largest companies in the world are now part of the momentum we’re seeing across every single metric that matters to us.”

The Q2 results come on the heels of a $250 million Series E funding round in May, led by Goldman Sachs. Tradeshift also recently announced several new product offerings, including a new receivables-centric application and supplier network offering called “Seller Club” and Tradeshift Pay, a platform for supply chain finance and payments.

See where Tradeshift beats the competition: Access the Q2 2018 SolutionMap today

Toys R Us Bankruptcy 

Shuttered retailer Toys R Us has reached a settlement with some of its supplier and creditors to create a pot of funds for claims, Supply Chain Dive reports. One ground of vendors said they are still owed $800 million for merchandise shipped to Toys R Us before the retailer decided to liquidate earlier this year.

Wool Prices

It’s a good time to be sheep farmer, a bad one to be a category manager buying wool. Wool prices have hit record highs this year on constricted supply, Reuters reports. The benchmark Eastern Market Indicator dipped back slightly from record highs earlier this week of more than A$20 kg, closing at A$19.81 kg on Friday, a 31% or A$4.74 increase on last year’s July close of A$15.07.

Beige Book

And finally, an economic update: Concerns over the effects of tariffs are starting to mount with U.S. manufacturers, according to The Wall Street Journal. Many businesses recently reported higher prices and increased supply chain disruptions in the Federal Reserve’s Beige Book, saying the issues are causing them to lose business to foreign competitors.

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