Canadian startup BufferBox started its journey in 2010. It is specialized in providing users with temporary lockers to receive delivery of packages from online e-commerce retailers. On November 30, Ontario-based BufferBox announced that tech giant Google had acquired it.
Day by day, BufferBox has become reliable to people. People buy many products online, provide the nearest BufferBox address where the products would be delivered and later they collect the delivered packages from BufferBox through entering confidential pin number. As the service is hassle free, many people love to have this service. Here’s a video of how the service works.
http://www.youtube.com/watch?v=-Kfo4Q7uw7o&feature=player_embedded
Google had understood the value of this service, and hence it bought BufferBox. But this news was not flashed till November 30. On November 30, 2012, BufferBox proudly announced that Google had acquired BufferBox. But terms of the deal weren’t disclosed. According to TechCrunch, Google spent more than $17 million to buy BufferBox.
It seems that the acquisition is a step to compete with Amazon’s Locker service. However, BufferBox had plans to operate more than 100 locations in Canada by the end of next year, but now it’s being hoped that Google will add more to that number. We have come to know that BufferBox’s 10 employees will move to Google’s offices in Kitchener-Waterloo.
The startup wrote in a blog post, “We have been able to achieve more than we could have ever imagined since we started working on our idea a couple years ago, and the team couldn’t be more excited about the future. As online shopping becomes a bigger part of how you buy products, we look forward to playing a part in bringing that experience to the next level. We are happy to share that it will be business as usual for our users and we are looking forward to continuing to build out the service.”
Source : BufferBox
Thanks To : Financial Post
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