Walmart Acquires Parcel

Walmart has acquired last-mile delivery service Parcel for an undisclosed sum reported to be under $10 million, according to Retail TouchPoints. The Brooklyn-based startup, which currently operates in NYC providing same-day delivery services for online retailers, is Walmart’s fifth e-commerce acquisition in the past year after Jet, Bonobos, ModCloth and Moosejaw. Parcel uses routing algorithms, a fleet of leased vehicles and its extensive database of building information to provide round-the-clock service with real-time updates to customers. Walmart shares are up 15.91 percent this year.

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