Point Pickup Technologies $42M Acquisition of GrocerKey
Gunderson Dettmer represented client Point Pickup Technologies, a last-mile delivery service, in its $42 million acquisition of GrocerKey, a white label e-commerce platform. As a result of the acquisition, Point Pickup will now allow retailers to offer same-day delivery, from purchase to fulfillment to delivery, under their own brand name.
In the announcement of the transaction, founder and CEO of Point Pickup Tom Fiorita said that retailers should have a right to own that data themselves. The acquisition of GrocerKey, which brings on board the company’s front-end consumer-facing sales engine and predictive analytics, puts the data and brand recognition back in the retailer’s hands.
The Gunderson deal team was led by partners Wes Watts, James Hauser, Aaron Fiske and Jace Clegg, and associates Melissa Brekke and Luke Thomas.