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Amazon acquires e-commerce software start-up Veeqo

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The fast moving conveyor belt transports a package from a scanning machine to the truck while it is being delivered during Cyber Monday operations at Amazon’s fulfillment center, Robbinsville in New Jersey. This was November 29, 2021.

Mike Segar | Reuters

AmazonVeeqo is a tool company to assist online sellers of products, such as Amazon. It was acquired by Veeqo.

Amazon quietly purchased the ecommerce software company, Veeqo. It didn’t make public the deal. Veeqo made the announcement in a company blog postOctopus Ventures is an investor in Veeqo. confirmed the dealTomorrow is Monday.

Amazon is estimated to claimAlthough 40% of all e-commerce transactions in the country are done online, there is still significant internet shopping. Amazon long sought to claim a portion of all sales through other sites like Etsy, Shopify, Walmart, and Shopify.

Amazon offers a program known as Multi-Channel FulfillmentAmazon’s services allow sellers to ship and store products, even if they aren’t selling through Amazon. Amazon has sought to attract sellersThe program has been made more affordable by third-party logistics companies and businesses like UPS, FedEx, and Shopify launching their own fulfillment services.

Amazon may acquire Veeqo to provide more powerful tools for its sellers, possibly luring them away form third-party logistic providers.

Veeqo said, “We look forwards to discovering all of the ways that we can partner with Amazon, to build on our existing toolkits, develop new services, and, ultimately to serve you better.”

Amazon spokeswoman confirms the purchase. Amazon spokeswoman, however, declined to divulge 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’ multi-channel businesses, and enhance the experience of their customers.”

Veeqo representatives didn’t respond immediately to our request for comment.

Veeqo was founded in 2013 in Swansea (Wales) and offers software to help retailers manage online business across all e-commerce platforms including Amazon. eBay, Shopify WalmartThis includes everything from ordering shipping and returns to tracking what product is in stock. According to LinkedIn, the company has approximately 60 employees.

WATCH: Inside the rapid growth of Amazon Logistics and how it’s taking on third-party shipping

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