Flexport Acquires Shopify Logistics Expanding its Global Services into Last Mile and E-Commerce Fulfillment Becoming their Official Logistics Partner
Flexport's tech-driven logistics platform powers businesses of all sizes making it easy to plan, visualize and execute their global supply chain from manufacturer to the customer's store or door under one unified technology platform
Flexport to begin offering last mile and e-commerce services to all of its customers
SAN FRANCISCO, May 4, 2023 /PRNewswire/ -- Flexport, the leading tech-driven logistics platform, today announced the acquisition of the assets of Shopify Logistics, including Deliverr, Inc. Flexport's technology now makes it easy for businesses to plan, visualize and execute the movement of goods from manufacturer to the customer's store or door unified under one technology platform.
Through the integration of Shopify Logistics, Flexport will strengthen its advanced AI-driven optimization to streamline the full global supply chain, reducing costs and improving reliability for customers. Traditional supply chain technology has failed to create a single system for end-to-end supply chain planning, visibility and execution. Flexport intends to change all that, reducing out-of-stocks for customers, costs for companies, and decreasing the environmental impact of the movement of goods.
"For Flexport, this acquisition enables our vision for a full digital transformation of the global supply chain that we will bring to all customers. This democratization and pooling of scale will level the playing field for cost and speed of delivery for all businesses, not just the largest corporations in the world," said Dave Clark, CEO of Flexport. "The end-to-end supply chain industry has not undergone the technological breakthroughs and data platforming we have seen in other sectors. Flexport is changing that. After the past several years of public discourse focusing on what's wrong with the supply chain, it's exciting to look ahead to how Flexport can bring solutions and make the global supply chain better for everyone."
Flexport 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.
"A key part of the success of Shopify Logistics to-date has been our mission-aligned and deeply knowledgeable partner, Flexport," said Tobi Lütke, founder and CEO of Shopify. "Today's announcement will enable Flexport and Shopify to carry the merchant-centered logistics vision forward, and give more businesses access to a fast, flexible and affordable logistics network that seamlessly integrates with the Shopify tools they know and love."
"Following in the spirit of our partners at Shopify, Flexport has built technology solutions on top of a global, diverse network of logistics partners to make the world simpler for merchants and enterprises selling across all their channels around the world. With this acquisition, we will deepen and expand these partnerships, providing all merchants and businesses more opportunities to grow and succeed because their success is our success," Clark added.
The company expects the deal to close in the second quarter subject to customary closing conditions, including the receipt of regulatory approvals.
If you're a customer looking to learn more, visit www.flexport.com and to learn more about working at Flexport visit www.flexport.com/careers.
About Flexport
We believe trade can move the human race forward. That's why since our founding in 2013, it's our mission to make global trade easy for everyone. Flexport is the tech-driven platform for global logistics—empowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. In 2022, Flexport was named #1 on CNBC's Disruptor 50 List as well as one of Fast Company's Most Innovative Companies. In February 2022, Flexport raised $935 million 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.
SOURCE Flexport, Inc.
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