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TC Roundup: Amazon to offer loans to sellers in China, 7 other countries

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Amazon to offer loans to sellers in China, 7 other countries: Amazon.com Inc will launch its business loan program for small sellers later this year in eight more countries including China, where credit is becoming a key factor in competing for new vendors and grabbing market share.

Until now, the e-retailer has offered the service only in the United States and Japan. Amazon Lending, founded in 2012, now plans to offer short-term working capital loans in other countries where it operates a third-party, seller-run marketplace business, the head of Amazon Marketplace, Peter Faricy, told Reuters. (Reuters)

A cap on the number of Uber cars in NYC?: A bill that is being proposed to the New York City Council could put a temporary cap on the number of for-hire vehicles in the city, potentially affecting companies like Lyft and Uber. (Tweet this)

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Next week the City Council will hear the bill that hopes to analyze the effect of the ride-sharing economy on traffic congestion and the environment. The cap would last until the end of the study or August 2016. (CNBC)

Silicon Valley: Inside the winners' circle: When he last turned to investors to raise cash a year ago, tech entrepreneur Ken Lin thought a stock market listing was looming on his company's horizon. A rite of passage for many capital-hungry businesses, it seemed only a short period of time before he would follow the well-trodden path to Wall Street.

Last week, however, Mr Lin was back instead for another $175m round of private money for Credit Karma, the personal finance website that he co-founded. "There is a lot more you can do as a private company," says Mr Lin, echoing the views of a generation of tech entrepreneurs who have learnt to shun the public stock market for as long as they can. (Financial Times)

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