Shopify completes sale of shopify logistics to flexport

Internet, everywhere--(newsfile corp. - june 6, 2023) - shopify inc. (nyse, tsx: shop), a provider of essential internet infrastructure for commerce, announces that it has completed the previously announced sale of the majority of its former shopify logistics business to flexport, a leading tech-driven global logistics platform, in accordance with the transaction agreement dated may 3, 2023. in connection with the sale, shopify received stock representing a 13% equity interest in flexport, which is incremental to its existing equity interest in flexport.
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