Business management

Amazon acquires business management company Veeqo

Amazon acquired Veeqo, an e-commerce software company that makes tools to help online businesses sell products on and off Amazon, in November, but did not go public with the deal, according to a CNBC report. Monday March 7.

Veeqo announced the deal in a company blog post in November, but the news escaped most media outlets at the time. One of the company’s investors, Octopus Ventures, confirmed the acquisition of Amazon on Monday, March 7.

Amazon has around 40% of the UK e-commerce market, but has pushed to sell on digital platforms such as eBay, Etsy, Shopify and Walmart, charging sellers for services and other third-party logistics that help them fulfill orders. orders on these sites.

The acquisition of Veeqo could allow Amazon to integrate additional selling tools into its multi-channel selling program, which allows sellers to stock and ship products using Amazon’s services, whether they sell or not. at the home site, according to the report.

“We look forward to learning all the ways we can work with Amazon to build on our existing tools, develop new services, and ultimately serve you better,” Veeqo wrote in its blog post announcing the deal. An Amazon spokeswoman confirmed the acquisition to CNBC but did not disclose the terms.

“We are thrilled that Veeqo has joined Amazon,” the spokesperson told CNBC. “We plan to continue investing in new features and enhancements to help Veeqo serve sellers worldwide from its headquarters in Wales, facilitate the growth of sellers’ multi-channel business and improve their customer experience. “

Related: Unicommerce partners with B2B e-commerce platform Udaan

Last week, supply chain software-as-a-service (SaaS) company Unicommerce formed a strategic partnership with business-to-business (B2B) e-commerce platform udaan. The partnership will provide the latest inventory and order management technology to merchants selling lifestyle products on udaan’s marketplace as well as others on Unicommerce’s centralized platform.

Lifestyle retailers working with Unicommerce can integrate udaan as a sales platform to grow their customer base.

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