Target Acquires Delivery Platform Shipt

Target has purchased Shipt, a platform that enables same-day delivery which will allow the retail chain to deliver groceries, furniture, and other products within 24 hours of an order.

The acquisition of Shipt, for a price of $550 million, is one of the largest acquisitions in Target's history.

Shipt is currently available in 72 US cities but that number is expected to expand rapidly with Target's help..