Walmart Purchases JoyRun Property to Improve Peer-to-Peer Product Supply


The last time we wrote about JoyRun it raised $ 10 million. Today the Bay Area startup has some very different news to report as it joins Walmart as Walmart bought select assets to improve the supply chain. The mega-retailer announced today that it has acquired "selected assets – including talent, technology platform and intellectual property" from the company to integrate its peer-to-peer food and beverage delivery service with its own last mile logistics .

Srini Venkatesan, EVP of Walmart, notes that the app has built a network of 540 outside trading partners and more than 30,000 people who have shipped goods using the service since it was launched half a decade ago. JoyRun's service is a little different than standard delivery apps like Seamless and Uber Eats.

As we described in 2017, "The company's app lets people find out who's already going to a nearby restaurant they like and then place their own order." It will be interesting to see how Walmart integrates this technology into its existing chain, although according to the sound, Walmart would essentially rely on laypersons to deliver goods like groceries.

The system would likely work like Amazon Flex – some kind of Uber / Lyft gig economy approach to delivery.

“With this acquisition, we can expand our team further and continuously strive to find even more opportunities for customers in the future,” adds Venkatesan. “For example, runners could complement our SPARK program and third party providers. Our goal is to deliver as quickly and efficiently as possible. "

Walmart expects to close the deal "in the coming weeks," which will include JoyRun in his Supply Chain Technology Team. The terms of the contract were not disclosed.