Amazon Completes Purchase of Shopify Competitor Selz
Amazon.com Inc. said it has acquired Australian e-commerce company Selz, in a deal that underscores an increased focus on fast-growing rival Shopify Inc. Terms of the deal weren’t disclosed. A spokeswoman for Amazon said the deal, which Selz announced on its website about a month ago, has been completed and nothing will change for Selz’s […]
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Amazon.com Inc. said it has acquired Australian e-commerce company Selz, in a deal that underscores an increased focus on fast-growing rival Shopify Inc.
Terms of the deal weren’t disclosed. A spokeswoman for Amazon said the deal, which Selz announced on its website about a month ago, has been completed and nothing will change for Selz’s merchants or their customers
Founded in 2013, Selz serves as an online platform that helps small and medium-size companies launch and maintain their online businesses.
The private company employs more than 30 people, according to data firm PitchBook. Previous backers include Macdoch Venture and Adcock Private Equity, PitchBook said.
Amazon has heightened its efforts to match fast-growing Shopify, which also aids small merchants in creating online shops.Last year, Amazon created a secret team named “Project Santos” to replicate part of Shopify’s business model, The Wall Street Journal reported in December.
As the pandemic has made online shopping more popular, brick-and-mortar stores have invested more into their e-commerce presence. Some estimates have the sector expanding by 50% in 2020.
