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Photo: Vivien Killilea/Getty Images

Target on Wednesday announced that it will acquire Shipt, an Alabama-based same-day delivery startup, for $550 million in cash.

Bottom line: This is about playing defense against Amazon.

Target says that it expects to offer same-day delivery services at around half of its stores by early 2018 and at a majority of its stores by the 2018 holiday season. Full deployment across all major product categories would come by the end of 2019.

Shipt had raised around $65 million in venture capital funding from firms like Greycroft Partners, e.ventures, and Harbert Venture Partners. The Birmingham, Ala.-based company currently has a network of more than 20,000 personal shoppers in 72 markets, and will continue to run independently.

Some additional color from Ian Sigalow, a Greycroft partner and Shipt director:

  • Target CEO Brian Cornell flew down to Birmingham and did a test drive with a Shipt delivery person.
  • Expect Target to particularly leverage Shipt when it comes to fresh food offerings, as Shipt currently focuses on grocery.
  • The original conversations between Target and Shipt were about a business partnership.

[Note: Greycroft Partners is an investor in Axios]

Go deeper

Updated 6 mins ago - Politics & Policy

Smaller than expected "Justice for J6" rally met with large police presence

Police officers watch as demonstrators gather for the "Justice for J6" rally in Washington, D.C., on Sept. 18, 2021. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

A few hundred demonstrators were met by a heavy law enforcement presence on Saturday at the "Justice for J6" rally outside the fenced-off U.S. Capitol, AP reports.

The latest: About 400 to 450 people were inside the protest area, excluding law enforcement, U.S. Capitol Police said.

DHS to increase deportation flights to Haiti from Del Rio

Migrants walk across the Rio Grande River carrying supplies back to a makeshift encampment under the international bridge between Del Rio, Texas, and Acuña, Mexico. Officials are struggling to provide food, water, shelter and sanitation, forcing migrants to cross the Rio Grande several times per day for basic necessities. Photo: Jordan Vonderhaar via Getty Images

The Department of Homeland Security on Saturday announced plans to ramp up deportation flights to Haiti out of the small Texas border town Del Rio, starting as soon as Sunday.

Why it matters: Reports have emerged of more than 10,000 migrants, primarily from Haiti, crowded in a temporary camp under the international bridge in Del Rio. Hoping to find refuge in the United States, they've had to bear with filthy conditions and the scorching sun for days, per an NBC News affiliate.

4 hours ago - World

Pope Francis urges bishops to listen to survivors of sexual abuse

Pope Francis rides his Pope mobile through a crowd of pilgrims before holding an open-air mass on September 15, 2021 in Sastin, Slovakia. Photo: Sean Gallup/Getty Images

Pope Francis on Saturday urged European bishops to listen to survivors of clergy sexual abuse, saying "these important discussions truly touch the future of the church," AP reports.

Driving the news: Francis spoke in a video message to Central and Eastern European bishops who are convening in Poland for a four-day child protection conference beginning on Sunday.