Novel coronavirus outbreak and mandatory norms pertaining to social distancing has led the sales and preference for online goods to soar high in the market. With this, various e-commerce giants have been going nine yards for strengthening their business presence. Amazon, Inc recently did a similar thing by acquiring Sydney based e-commerce website enabler- Selz.
Reports have it that the acquisition of Selz could provide Amazon a superior position in the e-commerce industry just like the Canadian e-commerce platform-Shopify.
As per credible reports, the acquisition indicates Amazon’s interest in enabling small businesses to make use of their own website rather than trying to direct all their traffic to the Amazon marketplace, where merchants pay commission on each sale as well as delivery fees.
It would be essential to mention that Shopify, Amazon’s rival, is quite popular among various online sellers as it gives them the control over cutometer experience. Amazon is following the same strategy, to gain much traction on its platform.
Speaking on the latest acquisition, CEO and Founder of Selz, Martin Rushe reportedly cited that the company has inked an agreement to be acquired by Amazon, Inc., and is looking forward to working with the team as it continues to build on easy-to-use tools for several entrepreneurs. He added that no changes would be seen for the customers at this time, and that the team would be in touch with them for any further updates.
Meanwhile, no terms of acquisition were disclosed by the team of Amazon. Moreover, post the acquisition announcement of Selz, the shares of Shopify fell to less than 1% earlier this week. In yet another incidence, Amazon has recently announced collaborating with Taiwan’s Hon Hai Precision Industry Co., for setting up the former company’s first manufacturing operations in India.