ShipMonk is one step closer to dominating the e-commerce fulfillment sector after purchasing competitor Ruby Has Fulfillment for an undisclosed sum.
The Fort Lauderdale-based company now operates more than 2.4 million square feet of warehouse space across North America and the United Kingdom after the acquisition, doubling its global footprint.
The Fort Lauderdale-based company now operates more than 2.4 million square feet of warehouse space across North America and the United Kingdom after the acquisition, doubling its global footprint.
ShipMonk founder and CEO Jan Bednar said Ruby Has Fulfillment, a logistics technology firm headquartered in Las Vegas, will help the company to scale while still providing quick fulfillment solutions for customers.
"As e-commerce businesses boom across every vertical, we are scaling our services to keep pace and deliver the level of quality and reliability our clients rely on and expect for their customers," Bednar said. "That’s true whether a business is bootstrapped and just getting started, or an existing enterprise-scale business with high volume and customized operational needs."
"As e-commerce businesses boom across every vertical, we are scaling our services to keep pace and deliver the level of quality and reliability our clients rely on and expect for their customers," Bednar said. "That’s true whether a business is bootstrapped and just getting started, or an existing enterprise-scale business with high volume and customized operational needs."
Founded in 2014, ShipMonk provides a variety of shipping and logistics services – such as order fulfillment and inventory tracking – for small- to medium-sized e-commerce businesses. The company has raised $355 million in funding over the past 18 months to fuel its expansion and has an estimated $1 billion valuation.
ShipMonk gained eight new fulfillment centers and 700 employees with the Ruby Has Fulfillment acquisition. It now operates 11 distribution centers across the U.S., Canada, Mexico and United Kingdom and has about 3,000 employees globally.
Last year, ShipMonk acquired a fulfillment location in Tecate, Mexico, enabling the firm qualify for a U.S. Customs and Border Protection program that eliminates import taxes for international shipments valued at less than $800. That could result in significant savings for e-commerce merchants who import items subjected to tariffs, such as clothing and luggage.
Rafael Zakinov, founder and CEO of Ruby Has Fulfillment, said the acquisition makes ShipMonk an "undisputed" leader in the global e-commerce fulfillment market.
"Our combined workforces and compelling and competitive offerings position our company and our customers for success in a business environment that is rapidly scaling to demand," said Zakinov, who joined ShipMonk's executive team as chief product officer. "We have the team, technology, service and reach to grow with our clients."
Last year, ShipMonk acquired a fulfillment location in Tecate, Mexico, enabling the firm qualify for a U.S. Customs and Border Protection program that eliminates import taxes for international shipments valued at less than $800. That could result in significant savings for e-commerce merchants who import items subjected to tariffs, such as clothing and luggage.
Rafael Zakinov, founder and CEO of Ruby Has Fulfillment, said the acquisition makes ShipMonk an "undisputed" leader in the global e-commerce fulfillment market.
"Our combined workforces and compelling and competitive offerings position our company and our customers for success in a business environment that is rapidly scaling to demand," said Zakinov, who joined ShipMonk's executive team as chief product officer. "We have the team, technology, service and reach to grow with our clients."