Hive Brands is Expected to Become the Latest Addition to Boxed’s Growing Stable of Software & Services Clients
Boxed, an e-commerce grocery platform which sells bulk consumables and licenses its e-commerce software to enterprise retailers, announced it is working with online marketplace Hive Brands (“Hive”) to fuel its e-commerce operations by providing it with a suite of software technology and services as early as January 2022.
Hive, led by Co-founder and CEO, Thomas Ellis, has created an online grocery shop where every purchase contributes to a more sustainable and equitable world. Each brand sold on Hive’s platform is carefully vetted for sustainability and social impact, and the company practices carbon neutral shipping and uses 100% recyclable shipping materials. Hive is planning to utilize Boxed’s proprietary e-commerce technology and services to help power its platform.
“At Hive, sustainability and social good are at the heart of everything we do, and we are proud to partner with Boxed as we have a shared commitment to ESG and sustainability,” said Mr. Ellis. “We admire Boxed’s early commitment to sustainability and social change. They were one of the first online retailers to focus on selling goods in bulk, which means a lower carbon footprint. And we applaud their commitments in support of equality, such as employing a team that is majority diverse, and fighting against the Pink Tax. By utilizing Boxed’s cutting edge technology stack, we are well positioned to deliver an improved customer experience for all Hive consumers as we scale our business.”
Chieh Huang, Co-founder and Chief Executive Officer of Boxed, said, “We are excited to work with Thomas and the team at Hive as we help them elevate their e-commerce technology and omni-channel capabilities with our proprietary e-commerce technology. Hive is making it easier for consumers to make sustainable choices and use their dollars to support positive change, which is aligned with our core values at Boxed and was a key component for why we chose to work with them. We look forward to launching with Hive and will continue to explore additional strategic partnerships as we scale our technology.”
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Boxed initially expanded its software and services platform through an exclusive partnership with Aeon, which was successfully implemented in Malaysia. The Company is currently exploring more opportunities with Aeon, including expanding into Vietnam and other Southeast Asian markets. Additionally, the Company recently announced it expects to launch its software and services technology in the Middle East and North Africa markets by the first half of 2022 through a partnership with 786 Holdings Limited.
On June 13, 2021, Boxed and Seven Oaks Acquisition Corp. (“Seven Oaks” or “SVOK”) (Nasdaq: SVOK, SVOKU, SVOKW), a publicly-traded special purpose acquisition company, entered into a definitive agreement relating to the business combination that would result in Boxed becoming a public company upon the closing of the transaction. Boxed also announced its intention to list on the New York Stock Exchange (“NYSE”) upon the closing of the business combination, which is expected in the fourth quarter of 2021. The combined company will be called Boxed, Inc. and its common stock and warrants are expected to list on the NYSE under the new ticker symbols “BOXD” and “BOXD WS,” respectively.
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