On Thursday, the company confirmed the reports, announcing it had sold its logistics unit to freight company Flexport. The deal includes the sale of Deliverr, a shipping service Shopify bought last year for $2.1 billion.
Like many online retail rivals, Shopify had focused on warehouse investments as the pandemic fueled longer-term expectations for e-commerce growth. In the new deal, Shopify will receive aMeanwhile, the UK's Ocado Group agreed to purchase Shopify'sShopify's first-quarter revenue came in at $1.51 billion, surpassing estimates of $1.43 billion and adding $0.01 per share. The company benefited from its integration on the websites of other businesses, such as Mattel and Coty.
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