Amazon Confidentially Scooped Veeqo In November

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  • Amazon.com Inc AMZN had confidentially acquired Veeqo in November. The financial terms of the transaction remain undisclosed.
  • Octopus Ventures, an investor in Veeqo, confirmed the deal.
  • Veeqo makes tools to help online businesses sell products on and off Amazon.
  • Amazon, which likely accounts for ~40% of the nation’s e-commerce sales, has long been pursuing a share of sales on other platforms like eBay Inc EBAYEtsy Inc ETSYShopify Inc SHOP and Walmart Inc WMTCNBC reports.
  • By acquiring Veeqo, Amazon could integrate more robust tools for sellers into its MCF program, potentially luring them away from other third-party logistics providers.
  • Price Action: AMZN shares traded lower by 5.06% at $2,765.50 on the last check Monday.
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