TSX:SHOP - Post Discussion
Post by
Iseneschal on Apr 22, 2022 8:36am
SHOP ...... News update this a.m
Globe helps prime the pump for Shopify's Deliverr buy
2022-04-22 05:03 ET - In the News
Also In the News (C-AMZN) Amazon.com CDRs (CAD Hedged)
The Globe and Mail reports in its Friday edition that Shopify is attempting to make its most significant acquisition yet to expand its warehousing and delivery services, just as Amazon is planning a new strategy that will put it in more direct competition with the Ottawa e-commerce platform. The Globe's Temur Durrani writes that Shopify's deal worth about $2.5-billion (U.S.) to acquire San Francisco start-up Deliverr is expected to be finalized before its first-quarter earnings call May 5, according to a source at Shopify. A final decision has not yet been made. Deliverr has been using its warehouses and software to facilitate sales from eBay, Google Shopping and Walmart. If all goes as planned, Shopify will be able to tap into a nationwide fulfilment network through Deliverr's warehouses across the United States. This acquisition is part of an ambitious strategic shift at Shopify to rival Amazon. On Thursday, Amazon said a feature it calls "Buy With Prime" will now let some merchants that ship products through the company add a new button on their own vendor websites. The button would allow Amazon customers with Prime memberships to purchase directly from different retail websites that partner with the company.
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