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/2022/08/logo-ripple.jpg
Digital Assets: Ripple Labs Eyeing Pieces Of Celsius In Bankruptcy Wreckage
August 10, 2022     Digital Assets, News

Ripple Labs, the blockchain payments company that created the XRP cryptocurrency, is interested in purchasing assets of Celsius Network, the crypto lender that was forced into bankruptcy amidst the meltdown…

https://dailyalts.com/wp-content/uploads/2022/08/Nuri.png
FinTech: German Bank Nuri Files For Insolvency Amidst Macro Environment And Crypto Bear Market
August 10, 2022     Digital Assets, FinTech, News

Nuri, a digital banking platform and app, offered users crypto transactions as well as normal banking activities including a debit card. The firm announced it had filed for insolvency on…

https://dailyalts.com/wp-content/uploads/2022/08/TX-SCARA_Press_1-1-1-1030x644-1.jpg
Artificial Intelligence: AI Robot TX SCARA To Debut In 300 FamilyMart Stores In Japan
August 10, 2022     Artificial Intelligence, Latest News, News

Telexistence Inc., the Japanese robotics company, announced the launch of its TX SCARA restocking robots in 300 FamilyMart convenience stores in Japan later this month as part of its AI-based…

https://dailyalts.com/wp-content/uploads/2022/08/Coinbase-Mobile-–-Splash.png
Alternative Investments/Digital: GraniteShares Launches The First Coinbase Leveraged ETF
August 10, 2022     Alternative Investments, News

US ETF issuer GraniteShares, which first launched leveraged ETFs on single stocks in the UK in 2019, and now offers 106 such products across Europe, has listed a suite of…