• DoorDash has announced "its third annual and largest ever Summer of DashPass – five jam-packed weeks with more than 25,000 incredible member-only offers, worth over $40M in savings, from nationwide favorites and local businesses … During Summer of DashPass, DashPass members will be able to access nationwide offers from beloved favorites like Coke and Walgreens as well as offers from local favorites, with more than 90% of deals from local businesses like Magnolia Bakery and Cardenas Market."
• From the Wall Street Journal:
"Amazon.com said it filed a lawsuit against the administrators of what it says are more than 10,000 Facebook groups used to coordinate fake reviews of Amazon products.
"Those in charge of the Facebook groups solicit the reviews for items ranging from camera tripods to car stereos in exchange for free products or money, Amazon said in a statement.
"The activity, which is against Amazon’s rules, occurs across Amazon’s stores in the U.S., U.K., Germany, France, Italy, Spain and Japan, the company said. Such bogus reviews are typically used to boost products’ ratings and increase the likelihood customers buy them.
"The lawsuit represents 'proactive legal action targeting bad actors,' Amazon Vice President Dharmesh Mehta said in the statement."
The story notes that "One of the Facebook groups, called 'Amazon Product Review,' had more than 43,000 members. Facebook removed the group this year, Amazon said, adding that it evaded Facebook’s detection by changing letters in phrases that might set off Facebook’s alarms."
• From Bloomberg:
"Instacart Inc. investor Capital Group Cos. cut its valuation to $14.7 billion, far below the online grocery-delivery firm’s own calculation of $24 billion.
"Capital Group marked Instacart shares at $45.84 apiece at the end of June, the asset manager said in a report on the website of its New Economy Fund. That makes it the second major investor in recent weeks to say that Instacart’s own estimate is now obsolete.
"In late June, Fidelity Investments lowered its estimate for the closely held firm, which filed confidentially in May for an initial public offering. Representatives for Instacart, Fidelity and Capital Group declined to comment.
"The market for pandemic darlings like Instacart has soured amid slowing growth, surging inflation and higher interest rates. The firm, which was valued at $39 billion through a March 2021 funding round, slashed its internal calculation by about 40% a year later."
