Electronic payments company PayPal announced the acquisition of Israeli startup company Cymbio, which specializes in managing the sales of goods through dropshipping. The transaction value is estimated at $200 million.
Drop shipping is the sale of goods that do not come from the seller’s warehouse, but from a third party – a wholesaler or manufacturer. Cymbio connects these big brands with retailers and allows them to manage sales and orders.
The startup was founded in 2015 and flourished during the COVID-19 pandemic. Over the 11 years of its existence, the company has attracted about $30 million in investments.
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