Target buys same-day delivery startup

Target buys same-day delivery startup, Shipt, for $550m to compete with Amazon in the ecommerce market

With Amazon fiercely chomping up the ecommerce market one impulsive shopper at a time, Walmart is no longer the only competitor proving they have the resources to close the gap. 

Target buys same-day delivery startup

Yesterday Target covered some major ground after they announced their acquisition of the same-day delivery startup, Shipt, for $550m.

Oh, Shipt!

Specializing in the same-day grocery delivery market, the two-year-old company has raised more than $60m from investors including Greycroft Partners,, and seed investor Harbert Venture Partners.

Shipt will reportedly work as a subsidiary of Target but will operate its business independently — meaning they can still keep some of their old big-fish clientele, like Costco. 

Target is equally excited

The company has a network of more than 20k shoppers delivering in more than 72 markets around the US, and Target believes the acquisition will “significantly accelerate [their] digital fulfillment efforts.”

Target plans to get same-day services up and running with Shipt in at least half of its stores by early 2018 and have full delivery of all products by the end of 2019.

New call-to-action

Get the 5-minute news brief keeping 2.5M+ innovators in the loop. Always free. 100% fresh. No bullsh*t.