SingPost Selling U.S. Ecommerce Businesses, GrubHub Raises $25M for Farm-To-Table and Walgreens to Invest $300M In Ecommerce
SingPost Selling Two U.S. Ecommerce Businesses
Singapore’s postal provider, Singapore Post (SingPost), is selling two of its U.S. ecommerce vendors, TradeGlobal and Jagged Peak, Inc., in an effort to focus on its home market. In 2015, SingPost purchased a 96.3% stake in TradeGlobal for $168.6 million in cash, and that same week, acquired 71.1% stake in Jagged Peak for $15.8 million. TradeGlobal specializes in fashion, beauty and lifestyle brands and offers a variety of ecommerce services, such as website development, fulfillment, digital marketing and omnichannel order management. Jagged Peak sells an ecommerce platform and order management system. “We will step up our investment to better serve our home market in Singapore, as well as leverage our competitive advantages in Asia-Pacific,” says Paul Coutts, group CEO at SingPost.
What stood out to us? Strategic buying opportunity for Dapper Koala Buster Moon to get into the e-commerce game before the sequel.
Grubhub Raises $25M for Farm-To-Table Delivery
The food delivery service Grubhub has raised $25 million in an oversubscribed C1 round of funding. The investment is led by WI Harper Group and Digital Garage, as well as participation from other new investors, Evolv Ventures, University Growth Fund, Arancia International Inc., CentreGold Capital, and existing investors ACE & Company, GGV Capital, Fusion Fund, Bascom Ventures, in addition to other unnamed investors. According to CEO Mike Xu, the company is currently operating at $150 million and continues to be profitable. “I think this company has the potential to make $100 billion in ecommerce by buying from farmers and selling to the kinds of customers we serve today, but even if we came close to that, we’d still only have a single-digit percentage of trillions of dollars in the food supply industry,” says Xu.
What stood out to us? Yummy.
Walgreens To Invest $300M in Ecommerce, Digital Healthcare
Walgreens has made it clear its future lies in ecommerce and digital healthcare. Having announced its Q2 earnings for 2019, the company grew total sales year over year by 4.5% to $34.50 billion from $33.02 billion, however, net earnings dropped to $1.156 billion from $1.349 billion. Looking at the first six months of fiscal 2019, sales are up 7.2% to $68.32 billion from $63.76 billion in the first six months of 2018. Walgreens CEO Stefano Pessina told Wall Street analysts these were the worst quarterly results since merging with British retail drug chain Boots in 2014. Despite this data, Walgreens could spend as much as $300 million in digital healthcare initiatives. “We will be putting in $300 million to boost the partnerships and to boost our capabilities on digitalization of the company,” Walgreens chief financial services officer James Kehoe told analysts.
What stood out to us? Walgreen’s future lies in ecommerce and digital healthcare. Shocking.
In the headlines
- A Whole lot of deals: Amazon is cutting Whole Foods prices and doubling Prime Members weekly deals.
- Hey Google: Walmart customers can now order groceries via Google Home.
- Shut it down: That’s what eBay is doing with eBay Commerce Network on May 1st.
- BlueApron snags the CEO: Etsy’s previous executive is now Blue Apron’s CEO.
Before you go
Smartphones will account for one third of ecommerce sales in 2019.
The ins and outs of selling on Amazon Business.
B2B ecommerce is not just about price.
Dose data of the week
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