Shopify to buy logistics firm Deliverr for $2.1 bln

Reuters
2022.05.05 11:08
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May 5 (Reuters) - Canada’s Shopify (SHOP.TO) said on Thursday it would buy U.S.-based logistics firm Deliverr for $2.1 billion, to help mitigate supply chain snarls that have plagued the e-commerce sector.

May 5 (Reuters) - Canada’s Shopify (SHOP.TO) (SHOP.N) said on Thursday it would buy U.S.-based logistics firm Deliverr for $2.1 billion, to help mitigate supply chain snarls that have plagued the e-commerce sector.

Founded in 2017, Deliverr’s logistics network delivers more than a million orders per month for thousands of merchants across the United States, the company said.

Separately, the company reported a 22% jump in first-quarter revenue to $1.2 billion, compared with analysts’ average estimate of $1.24 billion, according to IBES data from Refinitiv.

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