Amazon. com Inc. said they had acquired Australian e-commerce company Selz, in a deal that would focus more on fast-growing rival Shopify Inc.
The terms of the transaction have not been disclosed. An Amazon spokesman said the deal, which Selz announced on its website about a month ago, had been finalized and would not change anything for Selz’s retailers or their customers.
Founded in 2013, Selz serves as an online platform that helps small and medium-sized businesses start and maintain their online businesses. The data company PitchBook employs more than 30 people in the private company. Previous fans include Macdoch Venture and Adcock Private Equity, PitchBook said.
Amazon has stepped up its efforts to adapt to fast-growing Shopify, which also helps retailers create online stores. Last year, Amazon created a secret team called “Project Santos” to replicate part of Shopify’s business model, The Wall Street Journal reported in December.
As the pandemic has made popular shopping malls more popular, brick-and-mortar stores have invested more in their e-commerce investment. Some estimates have expanded the sector by 50% in 2020.