Shopify

Flexport winning $8B valuation with tech-enabled global logistics

Global logistics platform Flexport announced Monday it is looking to close a $935 million series E investment round by the end of the first quarter that will value the company at over $8 billion.

The round is being led by Andreessen Horowitz and MSD Partners with participation from strategic investor Shopify; existing investors DST Global, Founders Fund and SoftBank Vision Fund 1; and new investor Kevin Kwok.

“Global trade is facing historic challenges, which demand innovative approaches that...

https://www.freightwaves.com/news/flexport-winning-8b-valuation-with-tech-enabled-global-logistics

Ricoh USA to provide customer support for 6 River Systems’ fulfillment robots

Ricoh USA announced Wednesday that it will provide technical and customer support infrastructure to 6 River Systems as it looks to scale its robotic fulfillment solutions.

Technicians from Ricoh Service Advantage will work with engineers from 6 River Systems to provide calibration and floor mapping as well as routine and preventive maintenance and retrofits to the company’s robots, called Chucks. Ricoh will also provide end-user operator training for Chucks that includes device charging,...

https://www.freightwaves.com/news/6-river-systems-inks-support-deal-for-fulfillment-robots-with-ricoh-usa

No store, no problem: Via.Delivery offers BOPIS option for e-commerce sellers

U.S. consumers who utilize buy-online, pick-up-in-store (BOPIS) services grew exponentially in 2020. According to research from Business Insider, U.S. shoppers spent $72.46 billion on items purchased using BOPIS in 2020 — a 106.9% increase over 2019.

The same report noted that seven retailers — Walmart, The Home Depot, Best Buy, Target, Lowe’s, Macy’s and Nordstrom — accounted for 64% of BOPIS sales in 2020. In all, nearly 67% of shoppers used BOPIS in the first half of 2021, according to Invesp,...

https://www.freightwaves.com/news/no-store-no-problem-viadelivery-offers-bopis-option-for-e-commerce-sellers

Slowing bitcoin revenue drags down Square earnings

As third-quarter earnings results have poured in for major online retailers, investors have been left in a state of confusion. Amazon, Wayfair and Shopify all posted results that were below investors’ expectations.

Amazon.com (NASDAQ:AMZN), Wayfair (NYSE: W) and Shopify (NYSE: SHOP) represent only one side of the equation, though. Fintech firms underpin the omnichannel payment sector, and Square is the first major company to report its quarterly results.

Like the e-tailers, Square (NYSE: SQ)...

https://www.freightwaves.com/news/square-releases-q3-earnings

Shopify posts 46% Q3 revenue growth

Shopify reported higher revenue in Q3 but, despite the news, the final numbers fell short of expectations and the company’s stock took a hit in premarket trading Thursday before rebounding later in the day.

The e-commerce platform reported revenues of $1.12 billion for the quarter ending Sept. 30 — 46% year-over-year — and earnings per share (EPS) of 81 cents. Analysts were expecting earnings of $1.23 per share on revenue of $1.15 billion. Gross merchandise volume (GMV) also came in below...

https://www.freightwaves.com/news/shopify-fails-to-impress-investors-despite-46-q3-revenue-growth

ShipHero acquires Florida-based Cargo Cove Fulfillment

ShipHero acquires Florida fulfillment service Cargo Cove Fulfillment

In a bid to tap into Florida’s retail supply chain, e-commerce fulfillment platform ShipHero announced on Friday the acquisition of Jacksonville-based Cargo Cove Fulfillment, a full-service logistics company with over 50 partnering e-commerce brands. Those companies will now be integrated into ShipHero’s network of 5,000-plus partnering brands.

For ShipHero, the move is all about growth. The company now has a presence in the most populous city in one of the most populous states, bolstering the...

https://www.freightwaves.com/news/shiphero-acquires-florida-based-cargo-cove-fulfillment

Linnworks’ new funding will enable an effortless economy

Linnworks secures majority growth investment from Marlin Equity Partners to boost commerce automation platform

People hate doing things themselves. Today we have cars that are self-driving, microwaves that are self-cleaning, thermostats that are self-adjusting – even ​​sentences that are self-completing. Automation is just about everywhere, from the streets we drive on to the stores we shop at, but there’s still a long way to go before we reach the ceiling of what it can do.

Linnworks is bringing that ceiling closer to reality. On Wednesday, the commerce automation company announced a new majority...

https://www.freightwaves.com/news/linnworks-new-funding-will-enable-an-effortless-economy

Pain killer: Happy Returns, Staples join forces to ease online returns

Staples to accept e-commerce returns from Happy Returns

Estimates for e-commerce return rates range from a low of about 8% to as much as 35%, depending on the source. Most experts have centered on estimates of 25% to 30% of all items purchased online being returned.

Some brands make it easier than others to process returns, but for customers, even those often rely on packing the item up, printing out a shipping label, and perhaps most worrisome, waiting sometimes days or even weeks for the brand to refund the purchase price.

Happy Returns has been...

https://www.freightwaves.com/news/pain-killer-happy-returns-staples-join-forces-to-ease-online-returns

Moving from ‘e-commerce in a box’ to ‘composable commerce’

E-commerce continues to maintain its foothold in the economy, but future sales are potentially at risk for some businesses that rely on traditional e-commerce platforms, said the CEO of Fabric. Faisal Masud spoke to Modern Shipper on that and the e-commerce market in general in a recent interview.

In the past two weeks, both Amazon and Shopify announced quarterly earnings, and while the numbers were impressive, they still represent little more than the starting point for e-commerce’s potential....

https://www.freightwaves.com/news/moving-from-e-commerce-in-a-box-to-composable-commerce

Could Walmart become the next tech giant?

Walmart now selling e-commerce technology to small and medium sized businesses

Plenty of large brands have hopped on the e-commerce bandwagon, building out their own proprietary technologies to further monetize their products. But why stop there — why not monetize e-commerce itself?

That’s precisely what Walmart is doing. The world’s largest retailer announced Wednesday that it will now begin offering subscriptions to its proprietary e-commerce “technologies and capabilities” to small and midsized businesses, teaming with Adobe (NASDAQ: ADBE) to integrate its Marketplace,...

https://www.freightwaves.com/news/could-walmart-become-the-next-tech-giant

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