Saturday, 21 October 2017
Latest news
Main » Walmart buys Brooklyn startup for same-day NYC delivery

Walmart buys Brooklyn startup for same-day NYC delivery

04 October 2017

The announcement came just a few days after Jet.com, the online retailer Walmart bought past year for more than $3 billion, introduced higher-end, online groceries under a private brand that are aimed at younger urbanites.

The startup has also compiled a database of every New York City building it has delivered to, including photos and detailed information on service entrances.

"I see even more upside for our own same-day deliveries", Nate Faust, Walmart's SVP of US commerce supply chain, said in a blog post. Then, on the same day Amazon announced its blockbuster deal to buy Whole Foods Market for $13.7 billion, Walmart announced a big acquisition of its own: $310 million for clothing company Bonobos. The startup already boasts partnerships with several meal kit services and other e-commerce brands, and a Walmart spokesperson says those contracts will continue under its ownership.

Parcel will add to Walmart's ability to deliver to high-density cities, which the company considers a "top market" according to a news release.

"We can build upon that, and plan to leverage Parcel for last-mile delivery to customers in New York City - including same-day delivery - for both general merchandise as well as fresh and frozen groceries from Walmart and Jet", Nate Faust, senior VP, Walmart U.S. eCommerce supply chain, wrote on the company's website.

Kaplan's idea was to have shipments delivered to Parcel's warehouse.

Rodgers' pride as Celtic soar on the European stage
Brendan Rodgers branded Celtic's stunning 3-0 Champions League win over Anderlecht in Brussels 'outstanding'. It is credit for the players, they deserve it.

Walmart has invested heavily in logistics and delivery as one of the primary fronts in its battle against Amazon.

In addition to its workforce, Parcel operates an in-house fleet of leased and rented vehicles to manage delivery needs.

While the two companies did not disclose the terms of the detail, Recode reported that a source familiar said that Wal-Mart paid $10 million to acquire Parcel, and Wal-Mart noted in a fact sheet for the deal that the price was "smaller than previous acquisitions we've made this year".

Success! An email has been sent with a link to confirm list signup.

Daily local news headlines from across Gwinnett County.

Walmart buys Brooklyn startup for same-day NYC delivery