FedEx Completes Acquisition of ShopRunner, Expanding its E-Commerce Capabilities
December 28 2020 - 9:00AM
Business Wire
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.
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.
About ShopRunner
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.
Forward-Looking Statements
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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Bonny Harrison (901) 434-5207 mediarelations@fedex.com FedEx
Media Relations
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