If you think of Pitney Bowes as a mailing meter company, you’d be half right. The company has enjoyed a century-long partnership with the U.S. Postal Service (USPS) and is its largest workshare partner, sorting more than 16 billion pieces of mail each year. But while mail metering and services built the company, it’s only half of Pitney Bowes’ revenue today.
For the past 10 years, Pitney Bowes has been in the midst of a transformation from a company focused on hardware into a true digital and physical parcel shipping company with a network of e-commerce parcel sortation centers that leverage a 100-year-old relationship with the USPS for final-mile delivery. Launched in 2012 with eBay as its sole client, nothing in the way of physical operations and $12 million in revenue, Pitney Bowes Global Ecommerce now serves more than 500 retail and marketplace clients, including eBay and Etsy. In 2022, the new division generated $1.6 billion in revenue, 45% of the company’s total revenue for the year.