Stamps.com renames itself Auctane to meet broader e-commerce needs
E-commerce shipping solutions provider Stamps.com to change its name to “Auctane”, marking its latest development in a wave of business since it was acquired by a private equity firm and replaced its CEO .
The El Segundo, Calif., Based company said the change reflects its increasingly diverse portfolio of shipping and logistics technology. In recent years, the company has acquired UK e-commerce delivery technology provider MetaPack and e-mailing software company Endicia. The company’s additional units include GlobalPost, Shipsi and Shipbot.
In fact, its new name also comes from one of its units. Until today, Auctane, an e-commerce company based in Austin, Texas, defined itself as a wholly owned subsidiary of Stamps.com. Auctane himself was also the owner of e-commerce shipping technology companies ShipStation, ShippingEasy, ShipEngine, and ShipWorks.
After private equity firm Thoma Bravo LLC announced a deal in July to acquire Stamps.com for $ 6.6 billion, it decided to consolidate this sprawling portfolio. Just a month after the company’s shareholders approved the takeover bid, Stamps.com replaced its senior executive, appointing inside senior executive Nathan Jones to succeed the 22-year veteran of the company, Ken McBride.
âOur brands have been supplying professional shippers and forwarders around the world for almost 20 years,â Auctan CEO Jones said in a statement. âWe changed our name to Auctane to formally recognize the growth and impact of our industry-leading e-commerce solutions around the world. With these products, we are committed to helping all merchants, wherever they sell and however they ship, be exceptionally efficient at fulfilling orders and keeping their customers happy.
Despite the changes, Jones said the company’s mission remains to use innovative technology and workflows to deliver exceptional efficiency to all sellers, shippers and shippers around the world. But in the new era of business, this approach will migrate to meet new challenges.
âThe future of commerce lies in the possibility and expansion of consumer choices. With creative solutions and technology, we see a future in which businesses and vendors of all sizes can deliver original products to customers around the world while easily navigating complex logistics channels, âJones said in an article by blog.
This strategy reflects the changes in e-commerce that have taken place since inventory was once largely limited to local brick-and-mortar stores and United States Postal Service shipping services.
âWhile Stamps.com remains a growing product with incredible impact, over time our other products have also become market leaders. Our e-commerce focused products, including ShipStation, ShipEngine, Metapack, and ShippingEasy, have become household names in commerce around the world. With our increased impact, the Stamps.com name is no longer an umbrella large enough to fully encompass our mission, âJones said in the blog. âThat’s why we changed our name to Auctane.