FedEx Completes Acquisition of ShopRunner, Expanding its E-Commerce Capabilities
FedEx Corp. (NYSE: FDX) announced today that it has completed its previously announced acquisition of ShopRunner, the e-commerce platform that directly connects brands and merchants with online shoppers. ShopRunner’s capabilities complement and expand the FedEx e-commerce portfolio and are expected to create increased value for brands, merchants and consumers.
ShopRunner directly connects more than 100 brands and merchants to millions of consumers and offers a seamless shopping experience from inspiration through delivery. Members enjoy benefits that include free two-day shipping, free returns, member-exclusive discounts and seamless checkout. ShopRunner’s data-driven marketing and omnichannel enablement capabilities also help brands and merchants acquire high-value customers and accelerate their digital innovation by using ShopRunner’s e-commerce platform.
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ShopRunner is a subsidiary of FedEx Services. It will operate as part of FedEx Dataworks, a new organization within FedEx Services focused on harnessing the power of the rich FedEx data ecosystem to transform the digital and physical customer experience. FedEx Dataworks will create solutions that build the network for what's next by collaborating across the enterprise to integrate the technology and services customers expect and deserve.
“This is an exciting day for FedEx and ShopRunner, and it accelerates our ability to play a larger role in e-commerce,” said Raj Subramaniam, president and chief operating officer. “We are thrilled to bring on ShopRunner’s team of highly-skilled professionals, product capabilities and existing customer base as we work together to create a better end-to-end e-commerce ecosystem for brands, merchants and online shoppers.”
The complementary nature of ShopRunner’s pre-purchase offerings combined with FedEx post-purchase logistics intelligence will enable brands and merchants to attract and engage consumers at scale by providing innovative online shopping experiences. ShopRunner’s consumer experience and omnichannel enablement capabilities are also anticipated to help unlock potential for FedEx as it continues to use data and technology to transform the end-to-end e-commerce experience.
“Bringing together our products, talent, teams and culture will catalyze the next exciting chapter of growth and performance,” said Sam Yagan, CEO of ShopRunner. “Combining forces with FedEx will open up possibilities for creating amazing online experiences and delivering new innovations for everyone we serve.”
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $75 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its nearly 600,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.
As the premier e-commerce platform, ShopRunner offers its members free two-day shipping, free returns, member-exclusive discounts and seamless checkout. Spending billions of dollars in the ShopRunner network annually, ShopRunner’s millions of members prove every day that merchants can attract the highest value customers by offering free, fast and convenient login, shipping and checkout options. ShopRunner’s 100+ network partners include Hudson’s Bay Company, Kate Spade & Company, Under Armour, CB2, Cole Haan and American Eagle Outfitters. Evercore is serving as exclusive financial advisor to ShopRunner.
Certain statements in this press release may be considered forward-looking statements, such as statements relating to FedEx and ShopRunner’s views with respect to the benefits of the proposed acquisition and the anticipated time of the closing of the proposed acquisition. Forward-looking statements include those preceded by, followed by or that include the words “will,” “may,” “could,” “would,” “should,” “believe,” “expected,” “anticipated,” “plans,” “estimates,” “targets,” “projects,” “intends” or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, FedEx’s ability to achieve the anticipated results from the acquisition, the rate of future e-commerce growth and FedEx’s ability to successfully expand its e-commerce portfolio, and other factors which can be found in FedEx Corp.’s press releases and filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. FedEx does not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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