Shopify announced the acquisition of Deliver for $2.1 billion in cash and stock. This deal is considered the largest acquisition in the history of Shopify. The company wants to simplify logistics and give merchants the benefits of simplicity and scale.
Shopify want to optimize your execution network orders
Shopify just announced the “Shop Promise” badge that will soon appear in product searches. Therefore, affiliate marketers SFD Y Deliver can promise fast delivery (1 or 2 days). Especially since the system places the products in the areas with the highest probability of being ordered.
“Our goal is not just to level the playing field for independent companies, but to make them work for them, transforming them into superpowers with scale and agility,” said the CEO of Shopify, Toby Lutkein a press release. ” With Deliverthe Shopify Compliance Network will provide millions of growing businesses with a simple and powerful fulfillment platform that will make your customers happy again and again. »
This transaction will strengthen its ability to provide merchants with simplified inventory management and clearance inventory. Deliver processes more than one million orders each month, serving thousands of merchants in the United States.
See also: Shopify wants to compete with Amazon in the speed of the delivery service.
The 400 employees of Deliver They will join Shopify as part of the Agreement. againstwhich will more than double the size of the current team of Shopify Responsible for order management. Shopify plans to combine 6 River systems, SFD Y Deliver into a larger logistics network under the leadership of Aaron Brown.
About the logistics company Deliver
Deliverr, the American logistics Deliverr It launched in 2017 and has since raised $5 billion and has over 250,000 selling members. What Shopify, the company has benefited from the influx of new online sellers during the health crisis and lockdown. Therefore, they were also looking for solutions to simplify storage and shipping problems.
The contract is expected to be finalized after regulatory review.
The news of the deal arrives, but Shopify on Thursday announced a $1.5 billion loss in the first quarter. That is to say 11.70 dollars per share and on a turnover of 1,200 million dollars.
The result compares with earnings of $1.3 billion or $9.94 per share. That’s on total revenue of $988.6 million in the prior year quarter. On an adjusted basis, Shopify won 20 pennies per share during the last quarter. And it was against a EPS adjusted by $2.01 in the first quarter of 2021.
On average, analysts had expected adjusted earnings of 68 pennies per share on revenue of $1.25 billion for the quarter, according to Refinitive.