ecommerce

So Ben (Bailout) Bernanke has been testifying before Congress the last couple of days, predicting a possible contraction in the first half of the year. Lovely. Though considering the Fed's predictive track record, I wouldn't hit the panic button just yet.

How all of this economic upset is going to affect e-commerce obviously continues to be the big unanswered question on Wall Street. Piper Jaffray just came out with the results of a survey of 200 consumers which, among other things, suggests that the grim spending outlook for the remainder of this year will be, well, grim.

These … Read more

Amazon.com unveiled on Wednesday a text-messaging shopping service, which adds a mainstream player to the mix of companies that offer shopping to-go.

Amazon TextBuyIt is designed to let mobile device users window-shop, compare prices, and purchase products from Amazon.

Shoppers send a text message to "Amazon" with the product name, search term, UPC, or ISBN code. The e-commerce giant will offer matching products, as well as prices. Buyers can purchase products by replying to the text message and punching in a single-digit number next to the desired item. Amazon will then call the person to confirm the … Read more

Dave McClure is becoming the Web version of a streetwise ghetto talker. In his latest post, Dave makes some good points, amid the street talk, in his attempt to define Web 3.0 and identify the winners in the race to colonize the Web.

In his day job, Dave is an investor and adviser to Web start-ups, and the more mild-mannered conference chair for Graphing Social Patterns, and a co-chair of the Web 2.0 Expo, which takes place April 22 through 25 in San Francisco.

I agree with Dave that the entities managing personal profile infrastructure, such as user … Read more

I've looked at a handful of price watching services, but this one has got to be the coolest. It's called Pricepinx, and it's been designed to work on any site--not just some of the big retailers.

All you have to do to get going is add a small bookmarklet to your browser, highlight the price of the item and click on the bookmarklet. If there are any changes in price, you'll be notified by e-mail. As an added bonus for those who register with the service, added items are pooled together in a list. You can … Read more

This post was updated at 6:49 a.m. Pacific time to add comment from Facebook.

Facebook may be getting closer to launching a music service that competes with Apple's iTunes, the Financial Times reported Wednesday.

Sources told the publication that Facebook has been approaching major record labels about licensing deals so that it can sell music through its Web site.

It's a long-standing rumor that has once again floated to the surface of social-media chatter.

Music sales would provide Facebook with an alternative revenue stream--the site currently relies on advertising, which many have said is precarious for … Read more

For those who came in late, Blu-ray has won the format war.

On Wednesday, online retailer Amazon.com became the latest to declare its support for the victorious high-definition technology, announcing that it "will more prominently promote Blu-ray hardware and software products on its Web site." The company will not, however, discontinue its sales of HD DVD products.

"The high-definition landscape is rapidly changing, and consumers are looking for guidance on how to make the best high-definition buying decisions," Peter Faricy, Amazon's vice president of movies and music, said in a statement from the company. &… Read more

The web offers businesses almost unlimited commercial potential. The primary thing limiting that potential, however, is trust (or, rather, a lack of it). How do I do business with a stranger online? eBay has come up with its own answer, but it hasn't worked out as well as hoped, as Nick Carr notes:

By providing buyers and sellers with a simple means for rating one another, eBay has been able, we've been told, to avoid lots of rules and regulations and other top-down controls. The community, built on trust and fellow-feeling, essentially manages itself. Tom Friedman, in his book The World Is Flat, voiced the common opinion when he called eBay a "self-governing nation-state."

Nice story. Too bad it didn't work out.

The reason is self-interest, which doesn't always mesh well with other-interest. This is absolutely a problem with impersonal systems like eBay. It is not, however, a problem with true social networks (which map one's social graph, rather than promiscuously adding "friends" Facebook-style).… Read more

One of New York's most talked about tech start-ups these days is undoubtedly Etsy, the Brooklyn-based online marketplace for buying and selling handmade goods. And it's continuing to generate headlines: co-founder Robert Kalin announced in a blog post Wednesday that the company has picked up an impressive $27 million in Series D financing.

The venture funding comes from existing investors Union Square Ventures and Hubert Burda Media, as well as Accel Partners' Jim Breyer, who will take on a seat on Etsy's board of directors.

Etsy is "almost break-even" when it comes to profits, Kalin … Read more

Correction 9:30 a.m. PST: This blog initially misstated the day the deal was announced. It is Monday.

eBay company PayPal announced Monday it plans to acquire Fraud Sciences in a cash deal valued at $169 million.

Fraud Sciences, a privately held Israeli company, will lend its online risk tools and analytics to both eBay and PayPal's fraud management systems. Fraud Sciences' technology will also be baked into the companies' next-generation fraud detection tools.

Just last June, eBay was busy trying to nab fraudsters in Romania. The company said thieves were trying to lure losing bidders off the … Read more