Flexport, a San Francisco, CA-based provider of a tech-driven logistics platform, acquired assets of Shopify Logistics, including Deliverr, Inc.
The amount of the deal was not disclosed. The company expects the deal to close in the second quarter subject to customary closing conditions, including the receipt of regulatory approvals.
Through the integration of Shopify Logistics, Flexport will strengthen its advanced AI-driven optimization to streamline the full global supply chain. The company will also become the official Shopify Logistics Partner and provider of Shop Promise for millions of Shopify merchants. Shop Promise enables transparent shipping timelines, including two-day and next-day delivery options to customers of Shopify merchants and will be extensible to all major commerce platforms. These services will be powered by Flexport and available on the merchant-facing Shopify Fulfillment Network app, which offers merchants an integrated logistics experience through Shopify.
Led by Dave Clark, CEO, Flexport is a tech-driven platform for global logistics—empowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. The tech-driven logistics platform allows businesses of all sizes to plan, visualize and execute their global supply chain from manufacturer to the customer’s store or door under one unified dashboard. In February 2022, Flexport raised $935M in a Series E investment round led by Andreessen Horowitz and MSD Partners with a strategic investment from Shopify, as well as participation from existing partners DST Global, Founders Fund, SoftBank Vision Fund 1, and other investors. The investment brought Flexport’s post-money valuation to over $8 Billion.
FinSMEs
05/05/2023