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Shipt

From Alfawiki
Shipt
Company typeSubsidiary
IndustryDelivery services
FoundedNovember 1, 2014; 12 years ago (2014-11-01) (soft launch)
FounderBill Smith
Headquarters
Birmingham, Alabama
,
United States
Area served
United States
Key people
Kamau Witherspoon (CEO)
ProductsSame-day delivery services
OwnerTarget Corporation
Number of employees
300,000 (independent contractors)
ParentTarget Corporation
Websitewww.shipt.com

Shipt is a U.S.-based delivery company, operating under the ownership of Target Corporation, with its headquarters located in Birmingham, Alabama.

In December 2017, Target Corporation purchased Shipt for $550 million, maintaining it as a distinct subsidiary. By 2018, Shipt was providing delivery services for groceries, household items, and selected electronics.

History

Bill Smith founded and initially financed Shipt.[1] Prior to launching Shipt, Smith had established ventures in the cellphone industry, small lending, and prepaid Visa cards.[1] The company began a soft launch in November 2014 in Birmingham with an initial 1,000 pre-registered customers and officially commenced operations in May 2015. By 2016, Shipt was active in 27 metropolitan areas spanning 9 states,[2] initially focusing on markets lacking grocery delivery before broadening its reach.[3]

In July 2016, Shipt secured $20 million in Series A financing led by Greycroft Partners, e.ventures, and Harbert Growth Partners to fuel partnership growth and scaling efforts.[4] Then in June 2017, it raised an additional $40 million through Series B funding led again by Greycroft Partners with participation from prior investors.[5] At that point, Shipt was operating across 47 U.S. markets.[6]

On December 13, 2017, Target revealed its acquisition of Shipt for $550 million to bolster its same-day delivery capabilities.[1][7] Following the acquisition, Shipt continued to maintain collaborations beyond Target.[8] Target intended to utilize Shipt’s infrastructure to offer same-day delivery at most stores with an initial inventory of over 55,000 products,[9] aiming to cover all major product categories by the end of the year. Early in 2018, Shipt introduced same-day delivery services from Target locations in key cities such as Washington D.C., Baltimore, Anchorage, Fairbanks, Juneau,[10] New Orleans,[11] and New England,[12] with plans to expand delivery services to cover 170 markets by year-end.[13]

In March of 2019, Kelly Caruso—a seasoned executive from Target—was appointed as CEO of Shipt, succeeding Bill Smith who stayed on as an advisor.[14][15]

Kamau Witherspoon took over as CEO on March 1, 2022. Bringing a wealth of leadership experience from UnitedHealthcare, Yum! Brands (KFC), and Target—where he most recently served as senior vice president of operations managing operational planning, partner relations, M&A integration, and improvements across supply chain and retail stores.[16][17]

Service

Shipt provides same-day delivery services from a wide range of retailers to its members through a mobile application available on both iOS and Android platforms, as well as via its online website.

For an annual fee of $99, a Shipt membership grants access to order items from numerous local stores such as ABC Fine Wine & Spirits, Costco, CVS, Harris Teeter, H-E-B, Jewel Osco, Kroger, Lucky's Market, Meijer, Office Depot, Publix, Safeway, Shaw's and Star Market, Target, among others. The shopping and delivery process is carried out by a network of more than 300,000 independent contractors called "Shipt Shoppers," who operate nationwide.

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