So long lengthy shipping times: Technology distributor Ingram Micro announced today that is has agreed to acquire Shipwire, a startup that makes it easy for business of any size to quickly ship inventory to customers.
Shipwire’s global network of warehouses lets merchants store their inventory, and its cloud-based platform automatically ship orders out to nearby customers. Customers include Zynga, Rovio, and more than 1,000 other brands.
Damon Schechter, Shipwire’s founder and chief executive, tells me the acquisition will let his team continue to grow even faster. The company currently has warehouses in four countries, a footprint the company will be able to expand with Ingram Micro’s backing.
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The last time we covered Shipwire was back in 2007, when the company raised $4 million in funding. Since then, Schechter tells me that he’s learned quite a bit: “Multi-channel e-commerce is like a brand delivery vehicle … and it all has to be stitched together so that technology is the underlying thing,” he said.
Shipwire will function as a subsidiary of Ingram Micro, and its leadership will stay in place. The acquisition gives Ingram Micro a leg-up in the e-commerce fulfillment market, and it will also allow give its customers an easier way to expand their distribution chains.
“Ingram Micro is already well established as an expert in supply-chain services. The addition of Shipwire will enable us to accelerate our growth in a $40 billion market for e-commerce fulfillment services that is estimated to be growing by double-digits through 2015,” Ingram Micro CEO Alain Monie said in a statement.
The transaction is expected to close by the end of the year. Terms of the deal weren’t disclosed.
Palo Alto, California-based Shipwire was founded in 2006 and has raised $15 million in funding from Meaker Beckem Venture Capital, Ebay, and Newell Rubbermaid.
Ingram Micro is the world’s largest wholesale technology distributor and a global leader in IT supply-chain and mobile device lifecycle services. As a vital link in the technology value chain, Ingram Micro creates sales and profitabi... read more »
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