Amazon buys Veeqon, which launches e-commerce software

A quick-moving conveyor belt transports the bundle via a scanning machine en path to a supply truck on Cyber ​​Monday on the Amazon Supply Middle in Robbinsville, New Jersey, USA, on November 29, 2021.

Mike Segar | Reuters

Amazon has acquired Veeqon, an organization that makes instruments to assist on-line companies promote merchandise inside and outdoors Amazon.

Amazon quietly purchased the e-commerce software program firm final November, nevertheless it didn’t announce the acquisition. Veeqo introduced the deal in an organization weblog publish, and Octopus Ventures, which invests in Veeqo, confirmed the deal on Monday.

Amazon is estimated to account for about 40 p.c of the nation’s e-commerce gross sales, however nonetheless a good portion of on-line buying takes place elsewhere on-line. Amazon has lengthy been excited about gaining a share of gross sales from different platforms reminiscent of eBay, Etsy, Shopify and Walmart.

For a number of years, Amazon has been providing a program referred to as Multi-Channel Success that enables sellers to retailer and ship merchandise utilizing Amazon’s providers, no matter whether or not they promote on Amazon. Amazon has sought to draw sellers to this system by reducing costs, as third-party logistics suppliers and firms reminiscent of Shopify, UPS and FedEx have all launched their very own supply providers.

By buying Veeqon, Amazon may combine extra highly effective instruments for distributors into the MCF program, which may lure them away from different third-party logistics suppliers.

“We anticipate finding all of the methods we will work with Amazon to develop our present instruments, develop new providers, and finally higher serve you,” Veeqo wrote.

An Amazon spokesman confirmed the acquisition. The spokesman refused to reveal the phrases of the contract.

“We’re excited that Veeqo has joined Amazon,” the spokesman stated. “We intend to proceed to put money into new options and enhancements to assist Veeqo serve distributors worldwide from Wales, promote the expansion of distributors’ multi-channel companies and enhance the expertise for his or her prospects.”

Veeqo’s representatives didn’t instantly reply to the request for remark.

Based in 2013, Veeqo relies in Swansea, Wales and gives software program to assist retailers handle their on-line enterprise on e-commerce platforms, together with Amazon, eBay, Shopify and Walmart, from order supply and return monitoring to product monitoring. are in inventory. In accordance with LinkedIn, the corporate employs about 60 folks.

VIEW: Inside Amazon Logistics, speedy progress and the way it receives third-party deliveries

Sharing Is Caring:

Leave a Comment