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Pitney Bowes Inc. (NYSE: PBI) is a renowned global technology company established in 1920, dedicated to offering innovative products and solutions that help clients navigate the complexities of commerce. With a focus on customer information management, location intelligence, customer engagement, shipping and mailing, and global e-commerce, Pitney Bowes serves more than 1.5 million clients worldwide, including 90% of the Fortune 500, over 200 retailers, and numerous small businesses.
Pitney Bowes operates through three main business segments: Global E-commerce, Presort Services, and SendTech Solutions, with the majority of its revenue generated in the United States. The company's extensive portfolio includes domestic delivery, return and fulfillment services, cross-border shipping solutions, presorting services, and digital mailing and shipping technologies.
Driving their relentless pursuit of innovation are Pitney Bowes' 15,000+ dedicated employees. The company's commitment to technological advancement is evident in its 2,300 active patents, ensuring precise and accurate solutions for their clients. Recent partnerships, such as the one with ReverseLogix, enhance their service offerings, providing substantial savings and increased efficiency in return shipments.
In terms of financial health and corporate responsibility, Pitney Bowes continues to progress, leveraging its longstanding expertise and modern capabilities to meet the evolving needs of its diverse clientele. For the latest updates, corporate announcements, and financial results, visit their newsroom.
Pitney Bowes (NYSE: PBI) has signed a new credit facility for Medgluv, Inc., a healthcare supply company headquartered in Florida. The funding aims to boost working capital and meet the rising demand for PPE and disposable medical gloves, which surged over the past two years.
Medgluv's revenue increased by over 600% from 2019 to 2021, reflecting robust growth during the COVID-19 pandemic. Although shipping and logistics costs have risen, the new facility offers flexible capital that enhances cash flow, crucial for their growth trajectory.
Pitney Bowes (NYSE: PBI) has launched PitneyShip Pro in Canada, marking it as the first SaaS solution powered by the new Shipping 360 platform. This cloud-based service is designed for the modern business landscape, offering enhanced shipping functionality, customizable user experiences, and efficient parcel management. Companies can benefit from greater control over shipping activities, integrating multiple carriers and services seamlessly. With an anticipated growth from 1.6 billion parcels today to 2.5 billion by 2026, PitneyShip Pro addresses the increasing demand for effective shipping solutions.
Pitney Bowes announces the retirement of Johnna Torsone after 32 years, with Andrew Gold appointed as the new Chief Human Resources Officer. Torsone will serve as an advisor during the transition. Torsone’s leadership has propelled HR excellence, earning her accolades in the industry, while Gold has been a key player at the company for 28 years, known for his work on talent management and HR technology.
Pitney Bowes (NYSE:PBI) is set to showcase its advanced ecommerce logistics services at Shoptalk 2022, marking its return to the first in-person retail conference since 2019. The event occurs from March 27-30, 2022, in Las Vegas, Nevada. Notably, ecommerce services have exceeded 50% of the company’s total revenue, generating $1.7 billion in 2021. The company highlights significant growth in its Global Ecommerce revenue, up by 46% from 2019. Attendees can explore new technologies, analytics tools, and expanded logistics capabilities, including the innovative ParcelPoint Smart Lockers.
Pitney Bowes (NYSE: PBI) has announced a partnership with Funding Circle, a leading online small business lending platform, to provide quick access to loans for small business customers. This collaboration aims to empower small businesses by offering term loans with competitive rates through a streamlined online process. The initiative comes as 72% of small business owners express a need for financing this year. This pilot program is designed to enhance the lending experience and will help businesses grow amid a decline in loan approvals from large banks.
Pitney Bowes (NYSE: PBI) announced a $23 million expansion of AmbiSort AI-powered robotic systems in its e-commerce hubs to enhance parcel sortation efficiency. This deployment follows a successful trial in Stockton, California, where throughput nearly doubled during the 2021 holiday season. With e-commerce surpassing 50% of total revenue, this investment aims to improve productivity, accuracy, and worker safety. The automated solutions will respond to the rapidly growing global parcel volume, projected to exceed 131 billion annually.
Pitney Bowes Inc. (NYSE:PBI) announced the redemption of its outstanding 4.700% Notes due 2023, with a Redemption Date set for March 7, 2022. The redemption price will include the principal amount, accrued interest, and any make-whole amount. The Bank of New York Mellon will notify registered holders of the Notes. This move is part of the company's ongoing financial strategy as they manage their debt. Pitney Bowes continues to serve a significant portion of Fortune 500 companies, reinforcing its position in the logistics and mailing sectors.
Pitney Bowes (NYSE: PBI) has launched PitneyShip Pro, a cutting-edge cloud-based shipping solution designed for modern businesses. Built on the new SaaS Shipping 360 platform, it enhances shipping and mailing efficiency for remote and in-office employees. The platform offers customizable features, real-time analytics, and a comprehensive view of sending activities, allowing users to shop rates across various carriers. As remote work increases, this solution aims to support the anticipated growth in parcel volume.
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