FedEx Corp. (NYSE: FDX) is to acquire ShopRunner, a Chicago, IL-based e-commerce platform that directly connects brands and merchants with online shoppers.
The parties anticipate the acquisition to close by the end of the calendar year, and it is subject to customary closing conditions, including regulatory approval.
ShopRunner will operate as a subsidiary of FedEx Services, an organization focused on integrating the technology and services for customers to create solutions for global supply chains, e-commerce, and today’s business challenges.
Led by Sam Yagan, CEO, ShopRunner is an e-commerce platform that offers its members free two-day shipping, free returns, and member-exclusive discounts. Its 100+ network partners, including Hudson’s Bay Company, Kate Spade & Company, Under Armour, CB2, Cole Haan, and American Eagle Outfitters are connected with millions of consumers. The company’s data-driven marketing and omnichannel enablement capabilities also help brands and merchants acquire customers and accelerate their digital innovation.
Led by Raj Subramaniam, president and chief operating officer, FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $71 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand.