Amazon Buys Software Company That Helps Sellers Manage Multi-Channel Businesses
Amazon has purchased a software company aimed at helping sellers manage their ecommerce companies in an apparent bid to keep their sellers in-house rather than running off to third-party platforms.
CNBC reported March 7 that Amazon had bought Veeqo, which describes itself as an "inventory and fulfillment platform built" built for ecommerce sellers. The platform helps sellers sell their products both within Amazon and outside of it.
Veeqo confirmed the deal on their website.
"We’re thrilled to share that we’re now part of Amazon," the company stated. "We’ll carry on investing in new features and usability in our product from our headquarters in Wales. We look forward to discovering all the ways we can work with Amazon to build on our existing tools, develop new services and, ultimately, serve you better."
The report notes that this could be part of an effort by Amazon to integrate more tools for sellers into its Multi-Channel Fulfillment program, which the company offers to sellers whether or not they sell their products on Amazon. They may be looking to carve away some customers from sites like eBay and Etsy, and stave off competition from new fulfillment services from Shopify and FedEx.
The acquisition is the latest indication that Amazon wants to build ecommerce infrastructure that goes beyond its own store. Veeqo supports sales through Shopify and eBay, which could help give Amazon inroads into those sellers.
“We’re excited Veeqo has joined Amazon. Veeqo is an innovative company that helps sellers manage their multi-channel business and provides an outstanding experience to shoppers,” an Amazon spokesperson said according to GeekWire. “We plan to continue investing in new features and improvements to help Veeqo serve sellers globally from its home in Wales, facilitate growth for sellers’ multi-channel businesses, and enhance the experience of their customers.”
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