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In July, 2017 it announced its $10M series A funding led by GGV Capital.New Oriental Education & Technology Group Inc. and K2VC also participated in the round. [16]In 2022, Yami announced it has raised a $50 million Series B co-led by Altos Ventures and Balsam Bay Partners, with participation from previous backers J.P Morgan and GGV Capital.
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Potential customers can search and browse goods, compare price and quality, and then purchase the goods directly from the seller. The inventory is held by the sellers, not the company running the online marketplace. Online marketplaces are characterized by a low setup cost for sellers, because they do not have to run a retail store. [3]
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A merchant account is a type of bank account that allows a seller, known as the merchant, to accept payments by debit or credit cards.A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions.
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