Stamps.com Inc. (NASDAQ: STMP) shares shot up on Tuesday after a collaboration with United Parcel Service Inc. (NYSE: UPS) was announced. The goal of this partnership is to provide their customer base of more than 740,000 access to specially discounted UPS shipping rates. Stamps.com customers will have seamless UPS connectivity for e-commerce fully integrated within their familiar Stamps.com platforms.
This new collaboration with UPS will make UPS shipping services available to Stamps.com’s customers at attractive discounts of up to 55% off daily rates, including various waived surcharges.
Note that this move is part of an increasing number of strategic alliances and agreements that UPS has added to make industry-leading logistics services more broadly available, as part of its newly unveiled strategy called the UPS Digital Access Program.
Ken McBride, board chair and chief executive of Stamps.com, commented:
This new collaboration will allow us to bring the leading shipping solutions of UPS to our customer base in a simpler and more seamless fashion, and at very attractive new discounts. We want to empower our customers, and we know that delivery speeds and competitive rates are an important factor for small business success.
Kevin Warren, UPS chief marketing officer, added:
UPS wants to make the shipping process seamless for small businesses, so they can focus on growing their business. By collaborating with Stamps.com, their e-commerce customers will have easy access to UPS within the same familiar platform they’ve been using, offering them more choice and control over their shipping needs.
Shares of Stamps.com traded up about 23.5% to $94.05 on Tuesday. The 52-week range is $32.54 to $211.39. The consensus price target is $62.70.
UPS traded down about 3% to $114.90 a share, in a 52-week range of $89.89 to $123.63. The consensus analyst target is $123.30.