Shopify adds robots

Article Excerpt

SHOPIFY INC. $432.80 (Toronto symbol SHOP; TSINetwork Rating: Extra Risk) (613-241-2828; www.shopify.ca; Shares outstanding: 111.5 million; Market cap: $48.3 billion; No dividend) launched an Amazon-like fulfilment network in the U.S. in June 2019. As an add-on service, it provides warehousing and shipping service to merchants currently using the company’s e-commerce platform. Now, Shopify will buy 6 River Systems for $450 million U.S. 6 River has extensive experience in fulfillment software and robotics. It was founded by executives from Kiva Systems (now Amazon Robotics). Shopify believes the addition of 6 River’s cloud-based software and its mobile robots will improve the warehouse operations of the fulfilment network. This includes optimizing daily tasks like inventory control, sorting and packing. Shopify is a hold. hold. …