Stord, the e-commerce startup looking to take on Amazon, acquires UPS subsidiary
Logistics startup Stord said Monday that it's buying UPS subsidiary Ware2Go as it looks to expand its footprint in the e-commerce space.
The company declined to provide specifics on the purchase price of the deal.
The Atlanta-based company founded by former Thiel Fellow Sean Henry said the acquisition will boost Stord's competitive edge as it looks to chip away at the e-commerce space dominated by the likes of Amazon.
Ware2Go is a third-party delivery company that looks to make quick delivery more accessible for merchants, according to its website.
Henry told CNBC the acquisition builds on the company's push to "level the playing field" against companies like Amazon's Prime for checkout and fulfillment services for smaller businesses.
"The hardest problem for all these independent merchants across the rest of the internet and trying to compete with Prime is really scale," he said. "Logistics is still a physical world where you need a lot of packages, a lot of inventory spread very close to a lot of consumers to be able to offer that level of rapid delivery."
Stord said the acquisition adds 2.5 million square feet to the company's existing network of 13 facilities in the U.S., Canada, the U.K. and the Netherlands and over 70 partner sites worldwide.
The e-commerce logistics company founded in 2015 has been on an acquisition spree in recent months as it looks to expand its full-cycle fulfillment and shipping services.
Last month, the Wall Street Journal reported that Stord had bought freight and logistics company ProPack for an undisclosed amount. The company recently raised $200 million in a Series E and debt funding round at a $1.5 billion valuation.
Stord's backers include Kleiner Perkins, Peter Thiel's Founders Fund, Franklin Templeton and Strike Capital.
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