Q&A: Stamps.com acquires MetaPack
E-commerce delivery platform provider, MetaPack, has been bought by postage online and shipping software solutions venture, Stamps.com in a deal worth approximately £175 million. RTIH caught up with Patrick Wall, Founder & Director of MetaPack, to discuss the acquisition and what lies ahead.
RTIH: Why Stamps.com?
Patrick Wall: It was a competitive process and we were pleased Stamps.com offered attractive shareholder value, while at the same time providing a clear strategic fit. MetaPack’s European enterprise capability complements Stamps’ USA SME focus. Together, the two companies will be better able to provide innovative solutions in an increasingly global e-commerce world to customers of all sizes and in all geographies
RTIH: Is the message, it's business as usual at MetaPack?
PW: For our customers, partners and MetaPack colleagues it will definitely be business as usual. Stamps.com recognises the strengths of our team, their strong domain knowledge and extensive experience. They have made it very clear they wish the team to stay intact and carry on providing leadership, support and services to our customer base. We are preparing for peak as is typically the case at this time of year. We have already contacted our major customers and reassured them there are no changes.
RTIH: You and the management team have taken the business from a loss-making position into sustained profitability. What have been the biggest challenges and highlights along the way?
PW: The business has been through a number of periods of profit and loss, typically the latter occurring as we’ve expanded through acquisition or organic growth in new markets. In particular, the movement from loss to profit in the last 18 months reflects the growth in the revenue line as we begin to exploit our now established European footprint and worldwide reach. We have created the most competitive offering to global retailers and brands and see a large amount of new business opportunity.
RTIH: What’s your take on the current state of the UK retail sector?
PW: Like many markets, UK retail is coming under increased competitive pressure from the effectiveness of the online proposition. Retailers and brands must continue to strengthen differentiation and the delivery proposition is obviously a key part of this.
RTIH: What can we next expect from MetaPack and where would you like the company to be this time next year?
PW: We will continue to provide connectivity to new innovative delivery services and the pace of change is sure to increase. This time next year we will be providing more innovation to the market and in particular helping retailer and carriers to draw learnings for our rich data.