Amazon acquires e-commerce platform Selz
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Global e-commerce marketplace Amazon has bought up Sydney-based e-commerce platform Selz.
The platform works in much the way as Shopify, providing an e-commerce-ready backend for small businesses to utilize when creating their websites.
“We have signed an agreement to be acquired by Amazon and are looking forward to working with them as we continue to build easy-to-use tools for entrepreneurs,” said Selz chief executive Martin Rushe.
The acquisition could signal a shift in how Amazon seeks to grow its position in the e-commerce industry – no longer aiming to get all sellers on its marketplace, and instead of working with them behind the scenes to provide a white-label shopping experience powered by Amazon’s platform.
The option could be attractive for businesses looking to eschew Amazon’s commission and delivery fees, though the difference between the two options are currently unknown.
An Amazon spokesperson confirmed the acquisition but didn’t disclose any terms.
Questions & Answers
Q.What kind of business does Selz operate?
What kind of business does Selz operate?
Selz is an e-commerce platform that provides a backend for small businesses to create their websites. It functions similarly to Shopify.
Q.Who is the chief executive of Selz?
Who is the chief executive of Selz?
The chief executive of Selz is Martin Rushe. He commented on the acquisition agreement with Amazon.
Q.What potential strategic shift does this acquisition suggest for Amazon?
What potential strategic shift does this acquisition suggest for Amazon?
The acquisition could signal Amazon's move towards providing white-label e-commerce solutions for businesses, rather than solely focusing on its own marketplace.
Q.Were the financial terms of the acquisition disclosed?
Were the financial terms of the acquisition disclosed?
No, an Amazon spokesperson confirmed the acquisition but did not disclose any of its terms.
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