FedEx Corp. announced today that it has agreed to acquire ShopRunner, an e-commerce platform that connects online shoppers with their favorite merchants and brands.
ShopRunner was founded in 2009 by Michael Golden and the company was based in Conshohocken as part of Michael Rubin’s holding company Kynetic. Golden left the company in 2012. Following Golden’s departure, the company was led by two CEOs based in Chicago, but the company maintained an office and staff in Conshohocken.
Not familiar with Shoprunner? In the announcement, ShopRunner is described as follows:
ShopRunner connects millions of consumers to more than 100 of their favorite brands, offering a seamless shopping experience across merchants, from inspiration through delivery. Members enjoy benefits including free two-day shipping, free returns, member-exclusive discounts, and seamless checkout. ShopRunner’s data-driven marketing and omnichannel enablement capabilities also help merchants acquire high-value customers and accelerate their digital innovation by using ShopRunner’s e-commerce platform.
“The acquisition, once closed, aligns with our continued efforts to create an open, collaborative e-commerce ecosystem that helps merchants deliver seamless experiences for their customers,” said Raj Subramaniam, president and chief operating officer, FedEx Corporation. “We are committed to growing the ShopRunner platform and combining it with our global digital and logistics intelligence to create new possibilities in e-commerce.”
Sam Yagan, CEO of ShopRunner, said, “In pursuit of our purpose of creating the future of retail, we have built the foundation of a cross-brand ecosystem to create a simple shopping experience for consumers and to aggregate the scale of our network for our partners’ benefit. The unparalleled reach and assets of FedEx will accelerate our existing capabilities and align with our goal of creating new products and services that advance a more open, collaborative e-commerce ecosystem.”
The sale is expected to close by the end of 2020. Once closed, ShopRunner will operate as a subsidiary of FedEx Services.
Disclosure – Michael Golden is a partner/investor in Burb Media, LLC, the parent company of MoreThanTheCurve.com