It has just been disclosed that Seattle-based Internet giant Amazon acquired Veeqo last November, a software startup based in Swansea, Wales, founded in 2013. Veeqo provides software that helps retailers manage their online businesses across e-commerce platforms such as Amazon, eBay, Shopify and Walmart – from shipping orders and returns to keeping track of products in stock. For several years, Amazon has offered a program called “multi-channel fulfillment,” which allows sellers to store and ship products through Amazon’s services, regardless of whether they sell on Amazon.
Meanwhile, Amazon just released its 2021 financial report for Europe. According to the German news portal Lebensmittelzeitung, the net sales of the retail business in Europe increased by 17 percent to €51.3 billion. In 2020, however, the company was able to grow by 36 percent compared to 2019, which was not least due to the first Covid-related retail lockdowns which boosted e-commerce all across Europe. In 2021, however, Amazon posted losses of €1.19 billion on the bottom line for its retail division. A spokesman for the company was quoted that Amazon has been investing heavily in new jobs and infrastructure in Europe. Last year, Amazon opened 50 new logistics locations in Europe. Sales of the services business, including the marketplace, increased by 25 percent to €22.15 billion. The revenue includes commissions and fees for services. In the previous year, the segment still grew by 47 percent. However, profit shrank from €267 million to €120 million.
