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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How to use Amazon and advertising to build a D2C startup – gpgmail


Entrepreneurship in consumer packaged goods (CPG) is being democratized. Every step of the value channel has been compressed and made more affordable (and thereby accessible).

At VMG Ignite, we have worked with dozens of direct-to-consumer startups trying to both find product-market fit and achieve scale through Amazon and online advertising.

This article focuses on customer acquisition, particularly Amazon and online advertising, for the direct-to-consumer (D2C) CPG venture. Selling on Amazon, specifically third-party (3P), has become an increasingly important component of the D2C playbook. About 46% of product searches start on Amazon, which makes it a compelling source of sales even for early-stage ventures.

Table of contents

How to find product-market fit 

People say that ideas are a dime a dozen. They aren’t valuable. But finding product-market fit? Now, that’s hard. The gap between an unexecuted idea and proven product-market fit can seem vast. Yet it’s a critical first step because, ultimately, marketing amplifies your product and value proposition.

If they aren’t compelling, marketing will fail. If they’re compelling, even mediocre marketing can often be successful. So start with a great product that people love.

How do you create a great product, you ask? A/B test your product configuration like you A/B test your landing page, copy, and design. Your product is a variable, not a constant. Build, ship, get feedback. Build, ship, get feedback. Turn detractors into your customer panel for testing.

Early-stage D2C companies typically get their first customers through three channels:

  1. Begging your friends and family to buy and promote your product.
  2. List it on Amazon as a 3P seller. Figure out the platform and start selling!
  3. Advertise on Facebook. Start with a daily budget of 10x your price point to get started and start tinkering with creative, audiences, and settings to minimize cost per order.

The companies that succeed are often the ones that iterate the fastest. In his book Creative Confidence, IDEO founder David Kelley and his co-author (and brother) Tom relay a story of a pottery class that was split into two groups.

The first group was told they would each be graded on the single best piece of pottery they each produced. The second group was told they would each be graded based on the sheer volume of pottery they produced.

Naturally, the first group labored to craft the perfect piece while the second group churned through pottery with reckless abandon. Perhaps not so intuitive, at the end of the class, all the best pottery came from the second group! Iteration was a more effective driver of quality than intentionality.

Don’t know how to manage Amazon or Facebook? Here are some best practices:

How to get started with Amazon


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