Base Read

Wal-Mart is buying JoyRun assets to increase “point-to-point” product delivery

0 112

This startup in the Bay Area has some very different news to share because Wal-Mart has purchased select assets to enhance its supply chain and has therefore become part of Wal-Mart.

The large retailer announced today that it has acquired “selected assets-including talent, technology platforms, and IP” from the company to incorporate its point-to-point food and beverage delivery services into its own last-mile logistics.

Srini Venkatesan, executive vice president of Walmart, pointed out that the app has accumulated a network of 540 third-party merchant partners and that 30,000 people have delivered goods through the service five years after the service was launched.

JoyRun’s service is a bit tortuous compared to more standard delivery applications such as Seamless and Uber Eats.

walmart

The system may operate like Amazon Flex-an an economical delivery method similar to Uber/Lyft gig.

As we described in 2017: “The company’s app allows people to find nearby people who have gone to their favorite restaurants and then do it in their own order.”

How Walmart integrates this technology into its existing chain will be very interesting, although, from a sound perspective, Wal-Mart will essentially rely on non-professionals to deliver groceries.

Venkatesan added: “This acquisition allows us to further expand our team and continue to work hard to explore more delivery methods for customers in the future.” “For example, runners can supplement our SPARK program and third-party delivery providers. The goal is to deliver quickly and efficiently.”

Wal-Mart expects the transaction to be completed in “the next few weeks”, which will include JoyRun in its supply chain technology team. The terms of the transaction were not disclosed.

Read this article for free
This article is part of our archive of over 1,000 stories and is only available to subscribers. To get a preview of the work we do, you can enter your email to access the full article.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.