Executive Briefings

Target Is Buying a Company That Facilitates Quick Local Deliveries

Target Corp. - increasingly aware that shoppers want the things they buy online to arrive right away - is acquiring a San Francisco transportation technology company that facilitates same-day deliveries.

The discount retailer announced this week that it has agreed to acquire tech start-up Grand Junction, whose software manages local deliveries using a network of about 700 carriers.

"We'll leverage Grand Junction's platform ... to become even faster and more efficient in how we get products to our guests," Arthur Valdez, Target's chief supply chain and logistics officer, said in a statement.

Target declined to reveal financial details of the acquisition. It said the deal would close soon, but it did not specify when.

Grand Junction’s 13 employees will become Target workers after the deal closes, Target said. The start-up’s office is expected to move from San Francisco’s financial district to be closer to Target’s Silicon Valley headquarters in Sunnyvale. Its founder and chief executive, Rob Howard, is to become Target’s vice president of technology.

Target has been working with Grand Junction on a same-day delivery pilot program at a store in New York City’s Tribeca neighborhood. Target said same-day deliveries will be expanded to other New York stores in the fall and to other major cities next year.

Read Full Article

The discount retailer announced this week that it has agreed to acquire tech start-up Grand Junction, whose software manages local deliveries using a network of about 700 carriers.

"We'll leverage Grand Junction's platform ... to become even faster and more efficient in how we get products to our guests," Arthur Valdez, Target's chief supply chain and logistics officer, said in a statement.

Target declined to reveal financial details of the acquisition. It said the deal would close soon, but it did not specify when.

Grand Junction’s 13 employees will become Target workers after the deal closes, Target said. The start-up’s office is expected to move from San Francisco’s financial district to be closer to Target’s Silicon Valley headquarters in Sunnyvale. Its founder and chief executive, Rob Howard, is to become Target’s vice president of technology.

Target has been working with Grand Junction on a same-day delivery pilot program at a store in New York City’s Tribeca neighborhood. Target said same-day deliveries will be expanded to other New York stores in the fall and to other major cities next year.

Read Full Article