Venture Capital: Shopify Agrees To Buy E-Commerce Logistics Startup Deliverr For $2.1B

https://dailyalts.com/wp-content/uploads/2022/05/auto.jpeg

This is the largest acquisition in Shopify’s history.

Shopify (NYSE: SHOP) announced Thursday its agreement to acquire Deliverr, a logistics network and provider of fulfillment technology, for $2.1 billion. The startup, which was founded in 2017, currently delivers over a million orders per month across the US.

Shopify’s rationale for the deal: An investment in logistics to counter the challenges arising from the disruptions in the global supply chains and shipping delays, and to thus help merchants to fulfill orders as quickly as they need to stay competitive. (Shopify)

Accordingly, the Shopify Fulfillment Network (SFN) and Deliverr are combining to remove supply chain complexity for merchants of all sizes, on and off Shopify.

Furthermore, Deliverr, together with SFN’s direct-to-consumer fulfillment operations, will combine with 6 River Systems’ warehouse automation technology. The three units will form a broader logistics unit within Shopify under the group’s newly appointed CEO, Aaron Brown.

The combination will power Shop Promise, a new service that offers consumers two-day and next-day delivery options.

“Our technology and expertise in inventory management, inventory placement, and demand chain combine perfectly with Shopify’s roadmap, enabling us to now build an end-to-end logistics platform together,” said Harish Abbott, co-founder and CEO of Deliverr, in a statement.

“Our goal is to not only level the playing field for independent businesses but tilt it in their favor—turning their size and agility into their superpower,” said Tobi Lütke, founder and CEO of Shopify.

“Fast, reliable shipping is now table stakes; it’s a deciding factor for customers when shopping online, and their expectations are only growing,” says Shopify.

Related Story: Shopify Launches Its Shop Pay Option On Facebook And Instagram

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/11/Diplomacy-Avalon-Hill.png
Artificial Intelligence: CICERO, An AI That Plays The Diplomacy Game “At A Human Level”
November 23, 2022     Artificial Intelligence, News

Meta (formerly Facebook) (NASDAQ: META) announced on Wednesday the launch of CICERO, the first artificial intelligence (AI) agent to achieve human-level performance in the popular strategy game Diplomacy. So far,…

https://dailyalts.com/wp-content/uploads/2022/11/ai-application-650x435-1.jpg
Venture Capital: Astera Labs Lands $150M At $3.15B Valuation
November 22, 2022     News, Venture Capital

Astera Labs announced a $150 million Series D funding round led by Fidelity Management and Research that valued the company at $3.15 billion. Other existing investors, including Atreides Management, Intel…

https://dailyalts.com/wp-content/uploads/2022/11/afterpay-logo-holding-phone-scaled-1.jpg
FinTech: Expedia And Afterpay Tie Up To Offer BNPL For Travel
November 22, 2022     FinTech, News

Indeed, according to a CNN article, travellers should get prepared for the most expensive holiday travel season ever. Average air fare is up about 40% from 2021, and rates for…

https://dailyalts.com/wp-content/uploads/2022/11/kelly-sikkema-7alo7OJVNVw-unsplash.jpg
Digital Assets: Crypto Contagion Spreads To Miners – Iris Energy Unplugs Mining Hardware Amidst Default
November 22, 2022     Digital Assets, News

Iris Energy (NASDAQ: IREN), the Australia-based bitcoin mining firm, said in a filing that it had taken down a large chunk of its mining capacity that had been used as…