Amazon bought Selz

Amazon bought Selz

Amazon expands its horizons with Selz, one of Shopify’s main competitors

The middle of the week came with news in the online and retail business. According to its blog post, the Australian rival of Shopify, Selz was bought by Amazon, though a deal that closed on January 15.

“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,” stated Martin Rushe, founder and CEO of Selz. The details of the deal were not disclosed.

The Sydney-based company which provides small and medium-sized businesses with a platform to launch their online stores among other features had more than 2.5 million sellers, and less than 50 employees. Selz accounts now for more than 50% of Amazon’s online sales.

In the past, Amazon had its division similar to Shopify and Selz, called Amazon Webstore. The company closed the business segment in 2015.

At the moment of writing, Amazon share price is trading 0.56% higher, while Shopify is at -8.01%.

Sources: wsj.com, finance.yahoo.com, cnbc.com

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