A fast-moving conveyor belt moves a package through a scanner on its way to a delivery truck during Cyber Monday work at an Amazon order fulfillment center in Robbinsville, NJ, U.S. November 29, 2021.
Mike Segar | Reuters
Amazon has bought Veeqo, a company that makes tools to help online businesses sell products on and off Amazon.
Amazon quietly acquired the e-commerce software company last November, but did not publicize the acquisition. Veeqo announced the deal on the company blog, and Veeqo’s investor Octopus Ventures confirmed the deal on Monday.
Amazon is estimated to account for about 40% of e-commerce sales in the country, but a significant portion of online shopping is still done elsewhere on the Internet. Amazon has long been interested in claiming a share of sales on other platforms such as eBay, Etsy, Shopify and Walmart.
For several years, Amazon has been offering a program called Multi-Channel Fulfillment that allows merchants to store and ship items using Amazon services, whether or not they sell items on Amazon. Amazon has been looking to bring merchants into the program by cutting rates as third-party logistics providers and companies like Shopify, UPS and FedEx have launched their own order fulfillment services.
By acquiring Veeqo, Amazon could integrate more robust merchant tools into its MCF program, potentially poaching them from other third-party logistics providers.
“We look forward to discovering all the ways we can work with Amazon to leverage our existing tools, develop new services, and ultimately serve you better,” Veeqo wrote.
An Amazon spokesperson confirmed the acquisition. A spokeswoman declined to disclose the terms of the deal.
“We are delighted that Veeqo has joined Amazon,” a spokeswoman said. “We plan to continue investing in new features and improvements to help Veeqo serve merchants around the world from their home in Wales, grow merchants’ omnichannel business, and improve their customer experience.”
Veeqo representatives did not immediately respond to a request for comment.
Founded in 2013, Veeqo is based in Swansea, Wales and provides software that helps retailers manage their online business across e-commerce platforms including Amazon, eBay, Shopify and Walmart, from order delivery and returns to product tracking. are available. According to LinkedIn, the company employs about 60 people.
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