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Teespring (Spring, Inc.) is an American company that operates Spring, a social commerce platform that allows people to create and sell custom products. [1] The company was founded in 2011 by Walker Williams and Evan Stites-Clayton in Providence, Rhode Island. [2] By 2014, the company had raised $55 million in venture capital from Khosla ...
On 28 June 1999, [1] Jack Ma, with 17 friends and students founded Alibaba.com, a China-based B2B marketplace site, in his Hangzhou apartment. In October 1999, Alibaba received a US$25 million investment from Swedish Wallenberg family's Investor AB, [19] Goldman Sachs and SoftBank. In 1999, Wallenbergs Investor AB owned 6% of the shares. [19]
The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
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