Pitney Bowes Inc., known for its postage meter that was a staple in the pre-digital age, turns 100 this year, just in time to prove it knows how to make money in ecommerce.
In the April-June quarter, the Stamford company’s shipping-related revenue was $398 million, or 51% of total sales, the first time most of its revenue was not from its mail metering business. The ecommerce business segment, established eight years ago, processed 82 million packages in the quarter.
Pitney Bowes’ work in ecommerce is to label and process items ordered online and ship them to consumers using the U.S. Postal Service.