PETAH-TIKVA,
Leveraging Flow’s robust API-based technology, Global-e will be well-positioned to provide small merchants with a best-in-class solution, tailored for the needs of emerging brands, with a lightweight integration effort and advanced self-service capabilities, in combination with Global-e’s unique data models and AI-algorithms for conversion optimization. Furthermore, the acquisition is expected to allow Global-e to expand the scope of its exclusive relationship with Shopify to offer certain cross-border services to a broader set of merchants on the platform in addition to its current end-to-end 3rd-party solution catering to established brands.
“We are excited to welcome the Flow team into the Global-e family,” said
The deal is valued at up to approximately
Furthermore, Global-e announced today the following changes to its leadership team:
Rob Keve , formerly Flow’s CEO, will join Global-e’s leadership team and will head Global-e’s newly formed SMB division.Mike Bryzek , formerly Flow’s CTO, will join Global-e’s leadership team and will serve as its Chief Product Officer. Mike will replaceIra Vinitsky , who has asked to step down after leading Global-e’s product organization for more than 8 years.Adi Waiss will join the Global-e’s management team as its global EVP of Projects. Adi, a 5-year veteran of Global-e, will be transitioning from her previous role of VP Global Projects and Solutions.
“On behalf of Global-e’s entire team and board, I’m happy to welcome today Rob, Mike and Adi to our leadership team,” said
About Global-e
Global-e’s mission is to make global e-commerce “border-agnostic.” Global-e is the world's leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The chosen partner of more than 500 global brands and retailers across
About Flow
Flow’s technology is the powerful solution preferred by emerging brands to accelerate and optimize their global expansion and drive cross-border sales in over 200 countries worldwide. With an easy-to-use interface and flexible technology, the solution uniquely allows merchants to use only the tools and services they need — whether it is localization, experience optimization, currency exchange, and payments, or Flow’s global infrastructure for shipping and tax and duty compliance. Founded in 2015 by
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the terms and expected closing date for the Flow acquisition, the benefits of the potential Flow acquisition, Global-e’s business strategy and competitive position following the acquisition, future results of operations, plans, objectives, and future business. These forward-looking statements, which involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to: risks that the Flow business will not be in integrated successfully; failure to realize the synergies or benefits of the Flow acquisition; failure to retain our existing merchants, or the gross merchandize value (GMV) generated by such merchants; failure to attract new merchants, or the merchants we do attract fail to generate GMV or revenue comparable to our current merchants; failure to develop or acquire new functionality or enhance our existing platform; failure to successfully compete against current and future competition; failure to integrate our platform with e-commerce platforms; failure to maintain the functionality of our platform; failure to manage our growth effectively; risks associated with cross-border sales and operations; risks associated with governmental export controls; the compromise of personal information of our merchants and shoppers we store; failure to enhance our reputation and awareness of our platform; diminished demand for our platform and services as a result of changes in laws and regulations; actual or perceived failure to comply with stringent and changing laws, regulations, standards and contractual obligations related to privacy, data protection and data security; failure to adequately maintain, protect or enforce our intellectual property rights; the COVID-19 pandemic could materially adversely affect our operations; and other factors discussed under the heading "Risk Factors" in our prospectus filed with the
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