Walmart has acquired Brooklyn-based delivery startup Parcel, the retail giantâ€™s fifth technology startup acquisition prior to now 14 months.
Terms of the acquisition weren’t disclosed, still the deal closed on Sept. 29.
Founded in 2013, Parcel is a â€œlast-mileâ€� delivery platform designed to assist ecommerce corporations get their goods to customersâ€™ doors. It operates across the clock, delivering packages in agreed to be scheduled two-hour windows, overnight, or on the day an order is positioned.
The on-line / offline retail war has taken an absorbing turn over the past few years of time of time. After edging in to groceries & different household goods, Amazon laid down the gauntlet to brick-and-mortar rivals comparable to Walmart when it formally announced it was shopping for grocery store chain Entire Foods in a $13.7 billion deal.
Walmart has-been bolstering its ecommerce credentials, too, & acquisitions are additionally taking part in a key part of its strategy. Last Aug., Walmart confirmed it was shopping for on-line retailer Jet.com for $three billion in money, & Walmart has since snapped up on-line clothing retailer Shoebuy for $70 million, active outside retailer Moosejaw for $51 million, & mens clothing brand Bonobos for $310 million.
Parcel started in New York NY back in 2014, & it hasnâ€™t expanded in to different markets still. It had solely raised around $2 million in seed funding â€” so itâ€™s unlikely Walmart paid crazy cash for the startup. Certainly, Walmart asserted in that the acquisition price was â€œsmaller than previous acquisitions weâ€™ve made this yr,â€� which suggests it was lower than $50 million, & it was likely considerably less.
When it comes to what Walmart has in store for Parcel, well, it in all probability wonâ€™t shock you to learn in that it plans to use Parcelâ€™s platform for last-mile deliveries in NYC, overlaying â€œgeneral merchandiseâ€� in addition to â€œfresh & frozen groceriesâ€� from both Walmart & Jet.
Nevertheless, Walmart is seemingly clever to continue serving Parcelâ€™s existing clients, as well. â€œParcel has partnerships with several meal kit, grocery, & ecommerce corporations, & has delivered greater than 1 million meals prior to now two years of time of time,â€� Walmart stated in a blog post. â€œSo our immediate plan is for Parcel to continue serving its existing clients & growing its customer base.â€�