Walmart acquires New York last-mile startup Parcel

Terms of the deal were not disclosed, but the acquisition gives Walmart access to Parcel’s routing algorithm for scheduled, time definite delivery of orders.    Big box retailer Wal-Mart Stores, Inc. (Walmart) has acquired the last mile delivery startup Parcel to provide scheduled, time-definite delivery for customers in the New York City area.
   The deal, for which terms were not disclosed, gives Walmart access to Parcel’s routing algorithms, fleet of leased vehicles, and employees, the retailer said in a blog post Tuesday.
   “We plan to leverage Parcel for last mile delivery to customers in New York City – including same-day delivery – for both general merchandise as well as fresh and frozen groceries from Walmart and Jet,” the company said.
   Parcel was backed by investors to the tune of $2 million in two different investment rounds between 2014 and 2015. The company, according to a report in Reuters, has six full-time employees and a roster of 45 part-time employees.
   Walmart has been steadily building out its e-commerce and last-mile capabilities as it faces down a challenge from e-commerce giant Amazon. It acquired the e-commerce platform Jet.com for $3 billion last year.