E-commerce giant Amazon has successfully acquired Veeqo, a single platform for all e-commerce needs. With this acquisition, Amazon plans to continue investing in new improvements and features for helping Veeqo to serve sellers globally from its homes in Wales, simplifying growth for sellers' multi-channel businesses and improving their customers' experience.
UK-based Veeqo offers a cloud service that supports online retailers to manage their business operations. The startup's service majorly targets retailers that sell their products through not one but multiple online platforms, like Shopify and Amazon.
Veeqo's cloud service allows retailers to centrally perform the tasks like inventory management across all the online channels to sell their merchandise.
As per the startup, its service lowers the manual work for retailers' employees and, in turn, swells the operational efficiency.
One collection of features offered by Veeqo aids inventory management. Retailers can track inventory levels, control when the stock is running low and order new merchandise from suppliers. If a retailer has a presence in manifold markets, it can use the Veeqp platform for coordinating what merchandise shipment should be directed to which location.
Veeqo also offers features for managing the customer's orders and refunds and returns. A built-in analytics tool predicts customers' future demands for helping retailers ensure that they have enough merchandise in stock.
Amazon could also use Veeqo's features for managing sales across many e-commerce platforms to further its multi-Channel fulfillment program. The program empowers retailers to use Amazon's logistics network for shipping products via other e-commerce platforms.
Veeqo is the second e-commerce tech startup acquired by Amazon over the years. Earlier last year, the company has acquired Selz, a startup with a platform that helps online retailers with website developments and management of ad campaigns.
Source Credit - https://siliconangle.com/2022/03/07/amazon-acquires-e-commerce-technology-startup-veeqo/