Canadian e-commerce company Shopify will be locking another huge deal following its announcement regarding the acquisition of Deliverr for $2.1 billion.
The Ontario-based retail platform is now preparing for the biggest acquisition that is yet to come.
In doing so, the "end-to-end logistics" for the company will cater to more than millions of merchants all over the world, per Shopify founder Tobi Lutke.
Shopify To Acquire Logistics Startup
Shopify looks forward to the upcoming $2.1 billion acquisition of Deliverr, a San Francisco-based logistics startup.
Acquiring a new startup comes with a goal. That's why Lutke believes that it will be beneficial for the whole organization. According to him, Deliverr will provide a huge help for several businesses through its logistics platform. 2
"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," Luke writes in a blog post about the upcoming acquisition.
To further improve its inventory management, Shopify will incorporate Deliverr with the Fulfillment Network (SFN), which lets the merchants comply with the pending orders.
Furthermore, that's not the only thing that Deliverr will bring to the e-commerce platform. Techcrunch reports that Shopify can take advantage of the Shop Promise service, which focuses more on the customer's end.
Specifically, it will give them the option to have a two-day or next-day delivery. In addition, other perks that they can receive include returns, storage, and freight expansion, and inventory preparation.
Shopify Shares Plummet in Pre-Market Trading
In another story written by CNBC on Thursday, May 5, Spotify has recently seen over a 13% drop in its shares following the first-quarter results that came out this week.
Per Refinitiv survey of analysts, the Ontario-headquartered firm had 20 cents per share (adjustment earnings). That's too far from what Wall Street expects from it at 63 cents per share.
Even though there's a slight growth of 22% in its year-over-year revenue, Spotify did not reach the projected revenue of $1.24 billion.
Before the company purchased Deliverr, it successfully completed an acquisition of 6 River Systems for $450 million. The acquired startup is known for producing mobile robots, aside from developing cloud-based software intended for shipping purposes.
Related Article: Shopify Black Friday and Cyber Monday Sales Hit a Record $6.3 Billion
Best Ecommerce Platform Software in 2022
If you're into the e-commerce industry and you want your business to reach more customers, then you can rely on some of the e-commerce solutions that excel this year.
According to Tech Times, the first software that you can use if you're looking for an e-commerce solution is Shopify. It remains to be at an undisputed spot in providing this kind of service to the consumers.
For other alternatives besides Shopify, you can explore WooCommerce, BigCommerce, BetterCommerce, and A2X.
The article has a detailed list of their features and benefits so you can understand more how they work. You will also find out which one is suited for your plans in your business.
If you're just getting started with this e-commerce venture, you can read our previous article about it. Shopify expert Steven Ridzyowski has shared four important steps that you need to follow before diving into this business.
Read Also: Shopify's One-Click Checkout Service Shop Pay Now Available on Facebook Merchants in the US
This article is owned by Tech Times
Written by Joseph Henry
