Amazon has acquired Veeqo, a maker of tools for online sellers.
The Big Tech business bought the e-commerce software start-up last November, but didn’t announce it. Veeqo announced the deal on its blog, and Octopus Ventures, an investor, verified it on Monday.
Amazon is estimated to control over 40% of US e-commerce sales, but it has long sought a portion of sales on other digital platforms including eBay, Etsy, Shopify, and Walmart.
Amazon, for example, would get a part of those sales by compensating suppliers for services that help them fulfil purchases on Walmart’s site.
Amazon has offered Multi-Channel Fulfillment for several years, allowing sellers to store and distribute products using Amazon’s services whether or not they sell on Amazon.com.
While third-party logistics providers and firms like Shopify, UPS, and FedEx have created their own fulfilment services, Amazon has reduced its pricing to attract and retain sellers.
Amazon might entice retailers away from other MCF suppliers by acquiring Veeqo.
“We are excited to partner with Amazon to improve our existing tools, create new services, and ultimately serve you better,” Veeqo added.
No terms of the deal were disclosed by Amazon.
Veeqo has joined Amazon, a spokesman said. “We intend to keep investing in new features and upgrades to let Veeqo serve merchants globally from Wales, support multichannel company growth and improve consumer experience.”
Requests for comment from Veeqo went unanswered.
