Target to Buy Shipt for $550 Million in Challenge to Amazon

Target says it plans to acquire grocery delivery platform Shipt for $550M in cash and will run it as independent unit; Shipt has 170 staff and has raised $65M

As part of ongoing efforts to make shopping at Target even more convenient, Target just announced it will acquire Shipt, a rapidly growing same-day delivery company, for $550 million.

The move—one of the largest acquisitions in Target’s history—means same-day delivery will be an option at about half of Target stores beginning in early 2018. And by the 2018 holiday season, it will be an option at the majority of Target stores, and in all major markets.

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