Boxed Teams with Google Cloud to Power Global Platform Technology Solutions
December 09 2021 - 7:00AM
Boxed (NYSE: BOXD) (“Boxed” or the “Company”), an e-commerce
grocery platform that sells bulk consumables and licenses its
e-commerce software to enterprise retailers, today announced it
will further integrate with Google Cloud to drive innovation
throughout its platform and continuously improve the customer
journey.
As Boxed continues to scale its Software & Services
business, deepening its relationship with Google Cloud will enhance
its operational capabilities, deliver more value to its enterprise
clients, and source new customers for its growing stable of
Software & Services clients. As part of this updated licensing
agreement, Boxed will be able to make use of Google Cloud’s
advanced cloud computing, data analytics, and artificial
intelligence (AI) technologies to unlock new value and redefine the
future of consumer brand relationships in e-commerce.
“Google Cloud is the ideal platform for Boxed to creatively and
nimbly bring the best possible customer experiences to market,”
said David Miller, Chief Technology Officer of Boxed. “Our team
views Google Cloud as best in class on which to develop new and
better capabilities in the e-commerce space for B2C, B2B, Retail
and Software solutions for our customers and partners
worldwide.”
Boxed and Google Cloud will work together to:
- Enhance operational
insights: Connecting data from internal and external
sources to allow Boxed to build more personalized products, enable
faster supply and demand planning decisions, and provide better
service reliability to customers and partners.
- Drive value: Google
Cloud will enable Boxed to create scalable e-commerce platform
capabilities to target new value opportunities.
- Unlock new services and
offerings: By making broader use of Google Cloud
offerings, Boxed will be able to further develop differentiated
capabilities in a competitive market.
“We’re proud to support Boxed, a truly innovative industry
player in retail, in its efforts to build a platform that brings
new and improved features to retailers— and ultimately improves the
shopping experience for consumers,” said Carrie Tharp, VP of Retail
& Consumer, Google Cloud.
About BoxedBoxed is an e-commerce retailer and
an e-commerce enabler. The Company operates an e-commerce retail
service that provides bulk pantry consumables to businesses and
household customers, without the requirement of a “big-box” store
membership. This service is powered by the Company’s own
purpose-built storefront, marketplace, analytics, fulfillment,
advertising, and robotics technologies. Boxed further enables
e-commerce through its Software & Services business, which
offers customers in need of an enterprise-level e-commerce platform
access to its end-to-end technology. The Company aspires to make a
positive social impact with an emphasis on good Environmental,
Social and Governance (“ESG”) practices, and as such, has developed
a powerful, unique brand, known for doing right by its customers,
employees and society. For more information, please visit
investors.boxed.com.
Forward-Looking StatementsCertain statements in
this press release may be considered forward-looking statements.
Forward-looking statements generally relate to future events or
Boxed’s future financial or operating performance. For example,
statements regarding the expected benefits of the expanded use of
the Google Cloud Platform, the competitive environment in which
Boxed operates and the expected future operating and financial
performance and market opportunities of Boxed are forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as "pro forma", "may", "should",
"could", "might", "plan", "possible", "project", "strive",
"budget", "forecast", "expect", "intend", "will", "estimate",
"anticipate", "believe", "predict", "potential" or "continue", or
the negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Boxed and its
management, are inherently uncertain. Factors that may cause actual
results to differ materially from current expectations include, but
are not limited to: (i) the outcome of any legal proceedings that
may be instituted against Boxed or others following the
announcement of the business combination and any definitive
agreements with respect thereto; (ii) the ability to meet stock
exchange listing standards following the consummation of the
business combination; (iii) the risk that the business combination
disrupts current plans and operations of Boxed as a result of the
announcement and consummation of the business combination; (iv) the
ability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition, the ability of Boxed to grow and manage growth
profitably, maintain relationships with customers and suppliers and
retain its management and key employees; (v) costs related to the
business combination and being a public company; (vi) changes in
applicable laws or regulations; (vii) the possibility that Boxed
may be adversely affected by other economic, business, regulatory,
and/or competitive factors; (viii) Boxed's estimates of expenses
and profitability; (ix) the evolution of the markets in which Boxed
competes; (x) the ability of Boxed to implement its strategic
initiatives and continue to innovate its existing offerings; (xi)
the ability of Boxed to defend its intellectual property; (xii) the
ability of Boxed to satisfy regulatory requirements; (xiii) the
impact of the COVID-19 pandemic on Boxed's business; and (xiv)
other risks and uncertainties set forth in the section entitled
"Risk Factors" and "Cautionary Note Regarding Forward-Looking
Statements" in the company’s final proxy statement/prospectus
relating to the business combination.
Nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Boxed does not
undertake any duty to update these forward-looking
statements.
Investor ContactsChris
MandevilleICRBoxedIR@icrinc.com
Media ContactsKeil
DeckerICRBoxedPR@icrinc.com David TaftBoxeddave@boxed.com
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