Amazon confirmed Monday morning that it had acquired veeqo, a UK based software company that provides inventory and fulfillment tools for Amazon e-commerce sellers. COM and other platforms.
The acquisition continues Amazon’s trend of building e-commerce infrastructure outside its core platform. The company’s acquisition of selz last year sparked speculation that Amazon would compete more directly with Shopify in providing e-commerce services, regardless of whether they were sold on Amazon or not. Com or other websites.
In addition to Amazon, veeqo’s tools also support sales through channels such as eBay and Shopify. Common domain name format.
Amazon’s existing services include a multi-channel fulfillment service that allows third-party sellers to use Amazon’s existing network to fulfill orders on other websites.
“We are delighted to have veeqo join Amazon. Veeqo is an innovative company that helps sellers manage their multi-channel business and provides shoppers with an excellent experience,” an Amazon spokesman said. “We plan to continue to invest in new features and improvements to help veeqo serve global sellers from its home in Wales, promote the growth of sellers’ multi-channel business and enhance the experience of its customers.”
Veeqo was founded by CEO Matt Warren in 2013 and has an estimated 70 employees. In a report to subscribers on Monday morning, megabuyte, a technology research company, estimated veeqo’s revenue at “median single digit pounds per millisecond”.
Another example similar to the Seltz deal is that the acquisition of veeqo remained confidential for some time after completion. Veeqo announced the acquisition on its website on November 2. Octopus ventures confirmed the news on its website on Monday morning. Octopus ventures led a £ 3.3 million financing round earlier in the company.