Veeqo

Veeqo - The company provides a cloud service that helps online stores manage their business operations. Startup services are mainly focused on retailers who sell their products not through one, but through several online platforms such as Amazon and Shopify.

History

2022: Amazon bought Veeqo

On March 7, 2022, Amazon announced the acquisition of Veeqo. The company did not disclose the financial and other terms of the transaction.

Selling goods through several platforms can entail a large amount of duplicate work. If the retailer sells a certain product on three different trading platforms, and the price for it changes, then the updated price must be added separately to each of the three trading platforms. Other day-to-day business tasks may also involve duplication of work. The Veeqo cloud service allows retailers to centrally perform tasks such as managing inventory through all online channels through which they sell their products. According to representatives of the company, its service reduces the amount of manual work for employees of the retail chain and thereby increases operational efficiency.

Amazon bought a cloud service for managing online stores

One of the feature sets that Veeqo provides helps with inventory management. Retailers can track inventory levels, determine when inventory runs out, and order items from suppliers. If a retail company is represented in several markets, it can use Veeqo to coordinate which batch of goods should be sent to a particular place. The service also provides functions for managing customer orders, as well as returns and refunds. The built-in analytical tool predicts future consumer demand, helping retailers ensure that enough goods are in stock.

Amazon management reported that about 2 million third-party sellers offer their products on the e-commerce platform. With the help of the Veeqo service, the company will be able to simplify the work of third-party sellers who offer their products not only on their trading floor, but also on other platforms, such as Shopify. Amazon can also leverage Veeqo's sales management capabilities across multiple e-commerce platforms to develop its multi-channel service program. This program allows retailers to use Amazon's logistics network to deliver goods they sell through other e-commerce platforms.^[1]

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