Flexport, Inc.
Acquisitions
4
Major Deals Covered
$16M
Disclosed Deal Value
Flexport's largest disclosed acquisition here is Convoy Platform (technology and IP) for $16M in 2023. This page covers 4 major deals, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Shopify Logistics (including Deliverr) | 2023 | Undisclosed | Added U.S. warehousing and e-commerce fulfillment so Flexport could move goods from overseas factories to consumers' doors; Shopify received roughly a 13% equity stake in Flexport. |
| Convoy Platform (technology and IP) | 2023 | $16.0M | Bought the technology of shut-down digital freight broker Convoy for a reported ~$16 million and relaunched it in April 2024 as a neutral freight-matching platform for brokers and carriers. |
| Shopify Logistics / Deliverr | 2023 | Undisclosed | Expand reach into e-commerce fulfillment, last-mile delivery. |
| Convoy (Technology Assets) | 2023 | Undisclosed | Digital freight network platform for the trucking industry. |
2023
Added U.S. warehousing and e-commerce fulfillment so Flexport could move goods from overseas factories to consumers' doors; Shopify received roughly a 13% equity stake in Flexport.
Flexport became Shopify's logistics partner, but integration costs contributed to the 2023 leadership turmoil, and Petersen later scaled back fulfillment expansion. Warehouse demand rose in 2025 as brands relocated fulfillment to the U.S.
2023
$16M
Bought the technology of shut-down digital freight broker Convoy for a reported ~$16 million and relaunched it in April 2024 as a neutral freight-matching platform for brokers and carriers.
Sold to DAT Freight & Analytics in July 2025 for a reported ~$250 million, producing the one-time gain behind Flexport's 2025 profit.
2023
Expand reach into e-commerce fulfillment, last-mile delivery.
2023
Digital freight network platform for the trucking industry.
After Ryan Petersen returned as CEO in September 2023, Flexport cut about 20% of staff, narrowed its fulfillment ambitions and refocused on core forwarding and customs. Growth levers since then include winning back customers lost during the turmoil, expanding customs brokerage and trade advisory around U.S. tariff changes, filling former Shopify Logistics warehouses with brands reshoring fulfillment, and monetizing technology assets, as shown by the 2025 Convoy Platform sale.
Flexport is asset-light: it does not own ships or planes. As a freight forwarder and NVOCC it buys capacity from ocean carriers, airlines and truckers and resells it to shippers at a margin. It also earns customs brokerage and trade-advisory fees, warehousing and fulfillment fees from the former Shopify Logistics/Deliverr network, and smaller income from cargo insurance and trade finance. Its software (shipment visibility, tariff simulator, refund calculator, AI-assisted documentation) is mostly used to win and retain freight and customs customers rather than sold as stand-alone SaaS.
In May 2023, Flexport acquired Shopify Logistics, including fulfillment startup Deliverr (which Shopify had acquired for $2.1 billion in 2022). The deal gave Flexport a nationwide network of cross-docking fulfillment hubs and software, establishing a complete factory-to-doorstep logistics pipeline.
Flexport has acquired specialized technology startups and engineering teams in machine learning, optical character recognition (OCR) for shipping documents, and trade compliance software to automate customs clearance workflows.
As part of the 2023 logistics acquisition, Shopify received a 13% equity stake in Flexport, naming Flexport as the official preferred logistics and fulfillment partner for millions of Shopify merchants globally.
During global air cargo supply crunches, Flexport contracted long-term, dedicated Boeing 747-400F freighter aircraft wet-leases with Atlas Air, securing dedicated trans-Pacific airfreight routes between Asia and the United States.
Flexport strategically leases and operates cross-docking, container freight station (CFS), and airport gateway warehouses in key global trade hubs including Los Angeles, Chicago, New York, Hong Kong, Shanghai, and Amsterdam.
Flexport prioritizes internal software engineering for its core digital platform, utilizing strategic M&A specifically to acquire established regulatory licenses, physical logistics infrastructure, or high-value enterprise distribution channels (like Shopify Logistics).
Flexport financed major strategic acquisitions through a combination of balance sheet equity shares (as with Shopify) and capital from its multi-billion-dollar venture funding rounds, preserving cash liquidity.
Flexport is focused on evaluating specialized AI document-parsing tools, carbon offsetting technology platforms, and cross-border trade finance solutions that can be embedded directly into the Flexport operating system.
Yes. In a massive, highly strategic deal in 2023, Shopify abandoned its dream of competing with Amazon Prime and sold its entire logistics arm (including Deliverr) to Flexport in exchange for a massive 13% equity stake in Flexport. This allowed Flexport to handle massive "last-mile" domestic deliveries.
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