Walmart buys same-day delivery company Parcel

Wal-Mart buys delivery logistics startup Parcel

Walmart has acquired the logistics startup Parcel to help launch same-day delivery in New York City

"We can build upon that and plan to leverage Parcel for last-mile delivery to customers in New York City - including same-day delivery - for both general merchandise as well as fresh and frozen groceries from Walmart and Jet".

The company also bought internet retailer for about $3 billion a year ago in the largest-ever deal for an e-commerce startup.

The deal comes as Walmart's been looking to streamline its shipping operation to compete with Amazon's hyper-convenient service.

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The retail giant - in a move that looks like a direct swipe at Amazon - will soon offer same-day delivery to certain NYC customers, and has acquired the Brooklyn-based startup Parcel to help make that happen, according to Recode.

"The traffic in a place like New York City tends to be a pretty big obstacle that we've done an fantastic job of optimizing for", Parcel CEO and founder Jesse Kaplan said. The startup already boasts partnerships with several meal kit services and other e-commerce brands, and a Walmart spokesperson says those contracts will continue under its ownership.

Kaplan's idea was to have shipments delivered to Parcel's warehouse. In 2016, it bought Amazon rival Jet for $3 billion in cash. Jet has been testing same-day delivery in NY, and Parcel will become the (literal) vehicle for that service's expansion.

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The discount retailer, locked in a fierce battle with amzn to shorten the time it takes to get customers' packages to their homes, last week acquired Parcel for an undisclosed amount "smaller than previous acquisitions" Walmart has made this year ( which include Bonobos, Moosejaw, and Modcloth), the company said in a blog. The company, according to a report in Reuters, has six full-time employees and a roster of 45 part-time employees.

In addition to its workforce, Parcel operates an in-house fleet of leased and rented vehicles to manage delivery needs.

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