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Target to Buy Shipt for $550 Million in Challenge to Amazon

  • Deal will bring same-day delivery to most stores next year
  • Shipt plans to keep existing customers, including Costco
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Why Target Is Buying Shipt for $550 Million

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Target Corp. agreed to purchase grocery-delivery startup Shipt Inc. for $550 million, stepping up its challenge to Amazon.com Inc. by speeding the rollout of same-day shipping.

The all-cash deal will let Target customers order groceries and other goods online, and then have the items sent directly to their doors from nearby Target stores.