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NerdWallet, Inc. (Nasdaq: NRDS) has appointed Ken McBride, former CEO of Stamps.com, to its Board of Directors. McBride's leadership resulted in a 25% annual revenue growth and a surge in enterprise value from $25 million to $6.5 billion over two decades. His vast experience includes acquiring six companies and managing 1 million paying subscribers at Stamps.com, marking a significant influence on e-commerce. Jim Robinson III will retire from the board, focusing on RRE Ventures. CEO Tim Chen expresses confidence in McBride’s potential contributions to NerdWallet’s future growth.
Thoma Bravo has completed its acquisition of Stamps.com for $6.6 billion in cash. Stamps.com stockholders received $330.00 per share, leading to the cessation of its trading on NASDAQ. This acquisition aims to enhance Stamps.com's growth in the e-commerce shipping market, leveraging Thoma Bravo's expertise to improve software solutions. The deal was approved by stockholders on September 30, 2021, following its announcement on July 9, 2021. Thoma Bravo, managing over $83 billion in assets, is recognized for investing in innovative software companies.
Stamps.com (NASDAQ: STMP) announced stockholder approval for its merger with software investment firm Thoma Bravo at a special meeting on September 30, 2021. The merger agreement, initially disclosed on July 9, 2021, entails stockholders receiving $330.00 per share in cash. Approximately 77.9% of the outstanding shares voted in favor. The transaction is expected to conclude in the week of October 4, 2021, subject to closing conditions.
Metapack launched two new shipping plans, Essential and Professional, aimed at small and medium businesses to enhance their delivery management capabilities. With a focus on increasing accessibility, these pricing models provide seamless integration with e-commerce platforms and warehouse management systems. Research indicates that 86% of consumers intend to continue shopping online post-pandemic, emphasizing the need for efficient shipping solutions. The Delivery Manager platform connects retailers to over 400 carriers, reinforcing the importance of reliable delivery experiences as 40% of consumers reject retailers after poor delivery interactions.
Stamps.com (NASDAQ: STMP) announced the expiration of the 40-day 'go-shop' period in its merger agreement with Thoma Bravo, valued at approximately $6.6 billion. The deadline was 11:59 p.m. Pacific Time on August 17, 2021. During this period, the Company, directed by its Board of Directors and advised by J.P. Morgan, did not receive any alternative acquisition proposals or inquiries from interested parties. Stamps.com is a leading provider of e-commerce shipping solutions, integrating with over 500 partner applications.
Stamps.com (Nasdaq: STMP) reported a GAAP net loss of $25.8 million for Q2 2021, down 150% from a net income of $51.7 million in Q2 2020. Total revenue fell 8% to $191.1 million, with Mailing and Shipping revenue declining 3%. The adjusted EBITDA was $54.8 million, down 32%. The company announced a merger with Thoma Bravo valued at approximately $6.6 billion, offering stockholders $330.00 per share in cash. The merger is expected to finalize in late 2021, pending stockholder and regulatory approvals.
Stamps.com (NASDAQ: STMP) will release its second quarter 2021 earnings on August 5, 2021, after market close. The company will not hold a conference call due to its pending acquisition by Thoma Bravo, announced on July 9, 2021. This acquisition may impact investor engagement and market response to the earnings report.
Stamps.com (NASDAQ: STMP) has announced its acquisition by Thoma Bravo in an all-cash deal valued at approximately $6.6 billion. Each Stamps.com shareholder will receive $330.00 per share, representing a 67% premium over the closing share price as of July 8, 2021. The acquisition allows Stamps.com to operate as a private entity, aiming to leverage Thoma Bravo's resources to continue its growth in the e-commerce shipping market. The transaction is expected to close in the third quarter of 2021, pending regulatory approvals and shareholder consent.
Metapack has partnered with what3words, becoming the first eCommerce delivery technology company to incorporate unique what3words addresses into its logistics platform. This innovation enables precise delivery locations, enhancing efficiency for logistics partners and significantly reducing failed deliveries, which account for 19% of issues. The integration allows retailers to provide accurate delivery points, critical for improving customer experience. With over 550 million packages sent annually, this development could boost operational efficiencies and customer satisfaction in the eCommerce sector.
Stamps.com (Nasdaq: STMP) reported strong financial results for Q1 2021, with total revenue reaching $189.1 million, up 25% year-over-year. GAAP net income surged 108% to $34.2 million, translating to $1.74 per diluted share, a 92% increase. Non-GAAP adjusted EBITDA also saw a 43% growth, totaling $59.5 million. Despite a 100% drop in Customized Postage revenue due to the USPS program termination, the company remains optimistic about long-term growth in e-commerce, citing resilience during pandemic challenges.
