Wednesday, August 10, 2022
HomeeCommerce NewsAmazon acquires Veeqo to help manage online businesses

Amazon acquires Veeqo to help manage online businesses

Amazon recently acquired Veeqo. It will help online businesses sell products on Amazon. Big Giant Amazon’s purchase of software start-up was not sudden. It was already done in November last year. It got publicized recently. Veeqo announces the deal in a company blog post.

40% of the nation’s eCommerce sales are under the claim of Amazon. It still shares the interest claims on another digital platform.

Amazon offered a program called Multi-Channel Fulfillment. It has been for several years. It allows sellers to store and distribute products. It helps in promoting online businesses using Amazon’s services. It doesn’t matter whether they are selling on Amazon’s main site or not.

Shopify, UPS, and FedEx are third-party logistics providers and organizations. They started their fulfillment services. Amazon reduced its MCF cost to attract and keep sellers.

Veeqo gave the statement appreciating the acquisition.”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.”

The acquisition of Veeqo plays a great role. Amazon now can add more extensive tools. The sellers will benefit more from the MCF program. It is potentially trying to retain sellers from the competitors.

An Amazon spokesman acknowledged the transaction. Anything else was strictly declined.

It gave the statement explaining the acquisition. Amazon intends to continue investing in new features. It will upgrade to help Veeqo serve sellers globally. The target audience features from its home in Wales. It will allow growth for sellers’ multichannel companies. It will also improve the overall consumer experience.

Veeqo is a Swansea-based company founded in 2013. Its basic feature is to develop software. The software tends to help retailers better manage their online businesses.

Walmart, Shopify, and eBay were some of its customers. It ranges from other shipping and returns. The company had 60 employees roughly.

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