The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
Shipwire’s technology enables online retailers to outsource postal and shipping tasks.
Order fulfillment provider Shipwire said today it has received capital investment from eBay Inc. and consumer goods company Newell Rubbermaid, along with existing investor Meaken Becker Venture Capital. Shipwire did not say how large the investment was.
Newell Rubbermaid owns Dymo Endicia, a prepaid shipping software tool that eBay sellers and online retailers use to print postage, invoices and labels, and perform other order fulfillment tasks.
"Investments from eBay and Newell Rubbermaid are a demonstration of alignment, and of Shipwire's competitive position in the market," says Damon Schechter, founder and CEO of Shipwire. "Our new strategic partners bring technology, connections, and future marketing channels, to help evangelize outsourced shipping, and reinforce Shipwire's position as the leading provider of outsourced shipping services to growing businesses."
Shipwire says the investment comes as the company enjoys significant growth in serving small and midsize merchants with shipping technology and services. Jean-Francois Van Kerckhove, eBay’s vice president and head of corporate strategy, will join the Shipwire board, as will Amine Khechfe, founder and general manager of Dymo Endicia. Ivan Hoffman, former president of FedEx Ground, also will join the board, Shipwire says.
"Since 2006, DYMO Endicia and Shipwire have been working together to provide businesses with innovative shipping software and e-commerce tools," says Khechfe. "Investing in Shipwire will allow both companies to accelerate the distribution of U.S. Postal Services shipping technologies, and assist brands in automating and scaling their businesses, domestically and globally.”