Shopify buys warehouse automation tech developer 6 River Systems for $450 million – gpgmail


Shopify, the shopping technology developer that’s quickly becoming the anti-Amazon, has taken another step up the sales supply chain with its $450 million acquisition of the warehouse automation and management technology developer, 6 River Systems.

The acquisition will serve to boost efficiencies among Shopify’s Fulfillment Network service which launched in . June.

The acquisition gives Shopify access to the robotics experts who helped develop Amazon’s own robotics business when they were at Kiva Systems (before Amazon acquired that company). j

“Shopify is taking on fulfillment the same way we’ve approached other commerce challenges, by bringing together the best technology to help everyone compete,” said Tobi Lütke, CEO of Shopify, in a statement. “With 6 River Systems, we will bring technology and operational efficiencies to companies of all sizes around the world.”

The deal, which was approved by 6 Rivers’ investors including Menlo Ventures, Norwest Venture Partners, and Eclipse Partners, was a mix of cash and stock totaling $450 million with around $69 million worth of Shopify Class A shares set aside for 6 River Systems’ employees and founders that will vest subject to certain conditions.

Shopify said in a statement that the transaction would have no material effect on the company’s revenue in 2018. It’s expected to increase the company’s expenses by $25 million — including $10 million in operating expenses, $8 million in amortization of intangible assets; and $7 million in stock-based compensation.

Shopify estimated that 6 River Systems will have annual revenues of roughly $30 million in 2020.


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Southern California athletic brand, Vuori, raises $45 million from Norwest Venture Partners – gpgmail


The four-year-old, Southern California athletic brand Vuori has picked up a $45 million growth equity investment from the investment firm Norwest Venture Partners.

The company, which says it’s profitable, will now join a stable of consumer startup brands that includes Birdies, Casper Sleep, Grove Collaborative, Jolyn, Kendra Scott, Madison Reed and Topo Athletic.

Founded by Joe Kudla, Vuori began as an athletic wear company focused on selling shorts, sweatshirts, hoodies, and t-shirts to men in a more muted palette than other options.

Focused on retailers like REI, Nordstrom, Equinox and Core Power Yoga, the company’s clothes retail from anywhere between $32 for shirts and hats and $188 for its most expensive jacket. 

“As devoted customers, it was apparent to us that Vuori had built versatile products with tremendous energy and soul,” said Jon Kossow, managing partner at Norwest. “This is exactly the type of positive brand experience we search for in our consumer investments, and we look forward to supporting Joe and the team as they continue to bring new products to market and delight their customers.”


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