Global-e co-founders Amir Schlachet Shahar Tamari, and Nir Debbi (company pic)
Global-e, an Israeli fintech startup that offers a cross-border end-to-end platform for brands and retailers, is acquiring Flow Commerce Inc. (“Flow”), a technology based cross-border e-commerce software solution for emerging brands, for $500 million. The deal is for a base consideration of approximately $425 million and up to approximately $75 million in potential additional consideration based on certain financial results in 2021, plus approximately $45 million in Global-e shares for certain assumed, performance-based vesting warrants for Flow shares.
Global-e boasts that it paves the way for brands to expand globally with “simplicity, breaking through the cross-border barriers that prevent international shoppers from purchasing, enabling retailers to sell to and from anywhere in the world, and global consumers to buy online seamlessly.”
Flow calls itself a powerful and flexible cross-border solution that simplifies the complexity of scaling internationally. “Deliver a better brand experience, optimize at scale and reduce operational risk with the most advanced technology on the market.”
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“Our platform supports cross-border trade in a smart, simple and localized manner,” said Nir Debbi, President and co-founder of Global-e. “This acquisition follows our strategy, ultimately allowing us to serve small and emerging brands in the most sophisticated and light-weight way possible, by utilizing Flow’s cutting edge technology coupled with Global-e’s best-in-class expertise and unique data models. The combination of Flow’s small merchant solution and our existing market-leading solution for large enterprise merchants is expected to allow us to position our platform as a leading cross-border solution for any size of merchant, from self-served lightweight solutions for small and emerging brands, all the way to complex tailor-made enterprise solutions for the world’s largest brands.”
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OpenStore Raises $75 Million To Acquire More Shopify Sellers, Reaches $750 Million Valuation In Eight… via @forbes https://t.co/7EXz57fIDA
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“We are delighted to be joining Global-e, the leading cross-border e-commerce platform for medium and large brands,” said Rob Keve, co-founder and CEO of Flow. “Flow’s technology powers dozens of emerging brands with a fast-to-deploy and easy-to-manage cross-border solution. As the cross-border e-commerce market continues to grow, we believe that Global-e is the ideal partner for us. We believe that joining forces with Global-e will enable us to further expand our platform and solution capabilities for our existing merchant partners, accelerate our reach into new brands worldwide, and help fuel our continued growth.”
