STMP - Pitney Bowes down as company rolls out new services for e-commerce merchants

Tryaging/iStock via Getty Images Pitney Bowes Inc. ([[PBI]] -5.0%), a global e-commerce and shipping solutions technology company, rolled out a "new and improved suite of Cross-Border services" to help e-commerce businesses grow and reach more global consumers. "Pitney Bowes has made significant strategic investments to modernize our cross-border services, including enhancing our technology and adding new logistics capabilities," said EVP and President of Global E-commerce Gregg Zegras. The suite is a collection of four primary services focusing on the end-to-end e-commerce process, the online shopping experience, delivery, and duty and tax quoting. Pitney Bowe's cross-border parcel volumes are up 100% year-over-year in Q1 2021. Pitney Bowe competitor Stamps.com ([[STMP]] -0.1%) was recently acquired by a private equity firm at a valuation of $6.6B.

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Pitney Bowes down as company rolls out new services for e-commerce merchants