Shopify, the multinational e-commerce giant, announced it is selling its logistics division to Flexport, a leading US-based provider of supply chain technologies. In accordance with the deal, Shopify will receive stock equal to about 13% of Flexport’s equity. Per Shopify’s CEO, the divestiture represents an acknowledgement that its attempt to internalize shipping and fulfillment was a non-core business “sideshow” not worth pursuing.
Shopify Offloads Logistics Business to Flexport
