Target Gets Shipt for $550 Million
While Walmart has been ubiquitous in the headlines with its attempts to rival Amazon, Target’s acquisition of same-day delivery service Shipt brings the big brand to the forefront of the battle.
As a competitor to Instacart, Shipt picks up and delivers groceries from local brick-and-mortar stores. For $99 a year, Shipt members can access the convenient service, and starting next year, Target will join the ranks with products, and groceries, available on the platform. By next year’s holiday season, the plan is to have all 1,800 Target stores on board. Target’s CEO John Mulligan said that eventually Target will offer same-day delivery on its app and website.
Mulligan offered insight as to why Target would buy Shipt rather than partner, by explaining how Target will be able to pump resources into the platform to help it grow more rapidly.
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