Amazon buys cloud startup INLT to help merchants' import goods
30 September 2019
E-commerce giant Amazon has acquired US technology startup INLT for an undisclosed amount, in a transaction that will help expand the services it provides to its merchants by adding tools for its complicated cross-border sales processes which sellers need to manage individually.
With offices in Los Angeles and Philadelphia and a dozen employees, INLT makes software for sellers to manage costs and customs clearance of cross-border shipments.
Seattle-based Amazon said it will offer INLT’s cloud-based computing technology to its merchants.
“INLT is a smart, nimble team that is helping companies simplify and lower the cost of importing goods into the U.S.,” an Amazon spokeswoman said in a statement. “We’re excited to work with them to develop the next generation of solutions for their customers and Amazon selling partners.”
The timing and pricing of the INLT service is yet to be announced.
INLT in a web site announcement said it is now an Amazon company. “We have been acquired by Amazon and look forward to working with them to develop the next generation of solutions for our current customers and Amazon selling partners,” it added.
Amazon declined to disclose the cost of the transaction. The online database Crunchbase described INLT as a seed-stage company that last raised $1 million in April 2018.
Amazon has had a few busy months following its continued interest in logistics. Amazon now offers a one-day delivery option for Prime members, in a bid to deal with the quick turnaround and process orders more efficiently and has outlined its intention to introduce drones. In Las Vegas earlier this year, Amazon unveiled its latest Prime Air innovation which comes in the form of drones that delivers straight to customer’s doors. The drones, which are fully electric and can fly up to 15 miles to deliver packages under five pounds to customers in less than 30 minutes.