Shopify

Flexport acquires Shopify’s fulfillment business

Digital-oriented freight forwarder Flexport has agreed to acquire the logistics arm of publicly traded Shopify Inc. and Deliverr, the tech-enabled shipping services provider Shopify bought last year for $2.1 billion, moving the emerging import-export firm into e-commerce fulfillment and last-mile delivery.

In exchange for its fulfillment assets, Shopify will receive a 13% stake in Flexport and a seat on the board, Flexport CEO Dave Clark told FreightWaves.

The deal is the first since Clark, who...

https://www.freightwaves.com/news/flexport-acquires-shopifys-fulfillment-business

Flexport offers simplified ocean logistics for Shopify merchants

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Flexport, a freight forwarder that says its homegrown technology to automate supply chain processes...

https://www.freightwaves.com/news/flexport-offers-simplified-ocean-logistics-for-shopify-merchants

Shopify posts $1.2B loss a day after slashing workforce

Shopify window logo

Canadian e-commerce platform Shopify lost $1.2 billion in the second quarter as more customers returned to in-store shopping and e-commerce growth slowed from its pandemic highs. It also said it expects to post an adjusted net loss for the remainder of 2022.

The company said net loss for the quarter was 95 cents per basic and diluted share compared to $900 million net income and 69 cents per share in the year-ago period. The Q2 loss included a $1 billion net unrealized loss on equity and other...

https://www.freightwaves.com/news/shopify-posts-12b-loss-a-day-after-slashing-workforce

Shopify cuts 10% of workforce; CEO says, ‘I got this wrong’

Woman using Shopify app

E-commerce sales boomed during the COVID-19 pandemic. Now, they are slowing, and e-commerce platform workers are feeling the pain.

“Ultimately, placing this bet was my call to make and I got this wrong. Now, we have to adjust. As a consequence, we have to say goodbye to some of you today and I’m deeply sorry for that,” Shopify CEO Tobi Lutke said in a blog post to employees on Tuesday.

Lutke said the e-commerce giant would lay off about 10% of its workforce — estimated to be roughly 1,000 people...

https://www.freightwaves.com/news/shopify-cuts-10-of-workforce-ceo-says-i-got-this-wrong

Shopify has been hunting for a catalyst: Did it find one in B2B?

Shopify logo on computer

E-commerce isn’t what it used to be. Customers began shopping online at unprecedented rates during the pandemic, but digital sales have since slowed significantly and caused e-commerce stocks to plummet.

Shopify (NYSE: SHOP) has been one of the biggest losers. If you were to pull up a chart of Shopify’s stock performance since the beginning of 2020, you would be met with a worrying sight. Since reaching a pandemic high of over $1,600 a share toward the end of 2021, shares have returned to where...

https://www.freightwaves.com/news/shopify-has-been-hunting-for-a-catalyst-did-it-find-one-in-b2b

The state of last mile amid slowing e-commerce demand

White delivery van on highway

The challenges of the past few years have strained last-mile delivery networks. And just as they have started maturing with new entrants and efficiencies unlocked, e-commerce started slowing from its pandemic roll. Where exactly it stops, no one is quite sure, but last-mile providers don’t have time to wait. They must service the now and build for the future.

“Last-mile capacity still feels tight,” Jay Sackos, vice president of business development for Dolly, told Modern Shipper. Dolly...

https://www.freightwaves.com/news/the-state-of-last-mile-amid-slowing-e-commerce-demand

Shopify acquiring Deliverr for $2.1B, looks to improve fulfillment network

white delivery van on highway

Shopify on Thursday announced it is acquiring last-mile technology company Deliverr for $2.1 billion. Deliverr provides management software to manage final-mile deliveries through an asset-light network of warehouse, carrier and last-mile partners.

“Our goal is to not only level the playing field for independent businesses but tilt it in their favor — turning their size and agility into a superpower,” Tobi Lütke, Shopify’s CEO, said in a statement, which accompanied Q1 earnings. “Together with...

https://www.freightwaves.com/news/shopify-to-buy-last-mile-delivery-tech-firm-deliverr

Urb-E joins Santa Monica zero-emission delivery pilot

An Urb-E delivery driver travels down a Santa Monica street with his electric cargo bike

Last-mile and container-based delivery firm Urb-E launched service in Santa Monica, California, Thursday as it continues to expand its zero-emission delivery service.

Ten Urb-E electric bikes and cargo containers are being used in Santa Monica Zero Emission Delivery Zone (ZEDZ) lanes on Santa Monica and Colorado boulevards. The plan is to more than double the current fleet, which will deliver meal kits, e-commerce orders, groceries and subscription boxes on a daily basis.

“Santa Monicans have had...

https://www.freightwaves.com/news/electric-cargo-bike-tackles-last-mile-delivery-in-california

Shopify adds e-comm fulfillment capabilities with Shippo solution

Shopify adds new e-commerce fulfillment capabilities through new Shippo service

Selling products online is easy. But shipping those products is not, as e-commerce merchants contend with continuously increasing customer expectations around speed, price and convenience.

Shopify (NYSE: SHOP) customers, though, are about to receive a massive boost to their fulfillment capabilities through the company’s integration with Shippo for Platforms, a new offering launched by Bay Area-based Shippo on Wednesday. Shopify will become the first platform to leverage the solution, starting in...

https://www.freightwaves.com/news/shopify-adds-e-comm-fulfillment-capabilities-with-shippo-solution

Shopify predicts slowing revenue; investors sink stock

Shopify stock fell more than 18% in morning trading Wednesday after the Canada-based e-commerce platform said it expected the COVID-induced economic boom to subside this year even as it said retail would continue to embrace e-commerce.

“Our outlook for 2022 assumes continued secular tailwinds for entrepreneurship and digital commerce transformation against a more measured macro environment relative to 2021,” the company said in a release announcing its Q4 2021 and full-year economic results....

https://www.freightwaves.com/news/shopify-predicts-slowing-revenue-investors-sink-stock

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