Boxed Teams with Google Cloud to Power Global Platform Technology Solutions

NEW YORK, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Boxed (NYSE:BOXD) ("Boxed" or the "Company"), an e-commerce grocery platform that sells bulk consumables and licenses its e-commerce software to enterprise retailers, today announced it will further integrate with Google Cloud to drive innovation throughout its platform and continuously improve the customer journey.

As Boxed continues to scale its Software & Services business, deepening its relationship with Google Cloud will enhance its operational capabilities, deliver more value to its enterprise clients, and source new customers for its growing stable of Software & Services clients. As part of this updated licensing agreement, Boxed will be able to make use of Google Cloud's advanced cloud computing, data analytics, and artificial intelligence (AI) technologies to unlock new value and redefine the future of consumer brand relationships in e-commerce.

"Google Cloud is the ideal platform for Boxed to creatively and nimbly bring the best possible customer experiences to market," said David Miller, Chief Technology Officer of Boxed. "Our team views Google Cloud as best in class on which to develop new and better capabilities in the e-commerce space for B2C, B2B, Retail and Software solutions for our customers and partners worldwide."

Boxed and Google Cloud will work together to:

• Enhance operational insights: Connecting data from internal and external sources to allow Boxed to build more personalized products, enable faster supply and demand planning decisions, and provide better service reliability to customers and partners.
• Drive value: Google Cloud will enable Boxed to create scalable e-commerce platform capabilities to target new value opportunities.
• Unlock new services and offerings: By making broader use of Google Cloud offerings, Boxed will be able to further develop differentiated capabilities in a competitive market.
  
  

"We're proud to support Boxed, a truly innovative industry player in retail, in its efforts to build a platform that brings new and improved features to retailers— and ultimately improves the shopping experience for consumers," said Carrie Tharp, VP of Retail & Consumer, Google Cloud.

About Boxed

Boxed is an e-commerce retailer and an e-commerce enabler. The Company operates an e-commerce retail service that provides bulk pantry consumables to businesses and household customers, without the requirement of a "big-box" store membership. This service is powered by the Company's own purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies. Boxed further enables e-commerce through its Software & Services business, which offers customers in need of an enterprise-level e-commerce platform access to its end-to-end technology. The Company aspires to make a positive social impact with an emphasis on good Environmental, Social and Governance ("ESG") practices, and as such, has developed a powerful, unique brand, known for doing right by its customers, employees and society. For more information, please visit investors.boxed.com.

Forward-Looking Statements

Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or Boxed's future financial or operating performance. For example, statements regarding the expected benefits of the expanded use of the Google Cloud Platform, the competitive environment in which Boxed operates and the expected future operating and financial performance and market opportunities of Boxed are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "pro forma", "may", "should", "could", "might", "plan", "possible", "project", "strive", "budget", "forecast", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. 

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Boxed and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against Boxed or others following the announcement of the business combination and any definitive agreements with respect thereto; (ii) the ability to meet stock exchange listing standards following the consummation of the business combination; (iii) the risk that the business combination disrupts current plans and operations of Boxed as a result of the announcement and consummation of the business combination; (iv) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of Boxed to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (v) costs related to the business combination and being a public company; (vi) changes in applicable laws or regulations; (vii) the possibility that Boxed may be adversely affected by other economic, business, regulatory, and/or competitive factors; (viii) Boxed's estimates of expenses and profitability; (ix) the evolution of the markets in which Boxed competes; (x) the ability of Boxed to implement its strategic initiatives and continue to innovate its existing offerings; (xi) the ability of Boxed to defend its intellectual property; (xii) the ability of Boxed to satisfy regulatory requirements; (xiii) the impact of the COVID-19 pandemic on Boxed's business; and (xiv) other risks and uncertainties set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the company's final proxy statement/prospectus relating to the business combination.

Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Boxed does not undertake any duty to update these forward-looking statements. 

Investor Contacts

Chris Mandeville

ICR

[email protected] 

Media Contacts

Keil Decker

ICR

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David Taft

Boxed

[email protected]