The future of ecommerce: Amazon buys Veeqo to dominate the start up scene.
Amazon has bought Veeqo, a company that helps online businesses sell products on and off of Amazon. The Big Tech firm quietly acquired the ecommerce software start-up last November but didn’t announce it at first because they were waiting for an opportunity to present itself in order not only better understand how their services could be used by third party sellers who already use other channels like eBay or Alibaba – two huge marketplaces with over 500 million customers each! When Octopus Ventures confirmed this news today via blog post from CEO Ryan Leveille though we knew something big was happening so read below.
It’s no secret that Amazon is interested in taking a piece of the pie when it comes to e-commerce sales. They’re estimated 40% ahead but have long been Goals for other digital platforms like eBay, Etsy and Shopify as well – through charging sellers certain fees related their fulfillment service they can help customers order from Walmart sites without ever leaving amazon.
Amazon’s Multi-Channel Fulfillment Program lets sellers store and ship products using its services regardless of whether they’re selling on the home site or not. Third party logistics providers like Shopify, UPS & FedEx have all launched their own fulfillment programs to take advantage while Amazon cuts rates in order attract more participants into this program.
By acquiring Veeqo, Amazon could integrate more robust tools for sellers into its MCF program, potentially luring them away from other providers.
“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,” Veeqo wrote.
An Amazon spokeswoman confirmed the acquisition but declined to disclose the terms.
“We’re excited Veeqo has joined Amazon,” the spokeswoman said. “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’ multichannel businesses and enhance the experience of their customers.”
Representatives from Veeqo didn’t immediately respond to a request for comment.
Veeqo is an innovative Wales-based company that has developed software to help retailers manage their online business across eCommerce platforms such as Amazon, eBay and Shopify. Their solutions include order shipping & returns management; stock tracking what products are in stock for customers who place orders on these sites along with other features like social media automation which enables businesses owners to focus more time running your store instead of managing everything themselves!
The team at VEQOO employ roughly 60 people according LinkedIn so there’s no lack or demand when it comes down how many jobs this sector could potentially provide.
July 15, 2022
About the Author:
Nick Uresin is the Founder and CEO of ArgoMetrix, a New York based software and consulting company established in 2013. Nick is an Entrepreneur, Electronics, Communications and Computer Science Engineer, who has a passion for problem solving with technology. Nick built an online retail company with annual revenues of over $10 million. He developed his vision to organize the knowledge and technology he developed to become a large Amazon Seller and provide it as a service to manufacturers and sellers of consumer products. Let's get social! Follow us and get ArgoMetrix's latest updates on Twitter, Facebook or LinkedIn.