Amazon acquires cloud startup INLT to help merchants import goods | Tech News

Amazon acquires cloud startup INLT to help merchants import goods

Amazon is looking to expand the services it offers merchants to add tools for complicated cross-border sales processes, which sellers largely needed to manage on their own.

By: REUTERS
| Updated on: Aug 20 2022, 16:59 IST
The timing and pricing of the INLT service is yet to be announced.
The timing and pricing of the INLT service is yet to be announced. (REUTERS)

Amazon.com Inc has bought technology startup INLT for an undisclosed amount, the company told Reuters on Tuesday, in a transaction that will help merchants on its online marketplace more easily import goods into the United States.

The firm, with around a dozen employees based in Los Angeles and Philadelphia, 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.

You may be interested in

MobilesTablets Laptops
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

"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."

Also read
Looking for a smartphone? To check mobile finder click here.

Amazon is looking to expand the services it offers merchants to add tools for complicated cross-border sales processes, which sellers largely needed to manage on their own. The timing and pricing of the INLT service is yet to be announced.

ALSO READ: Facebook acquires CTRL-Labs, a startup working on neural interface platform

INLT said on its website that Amazon had acquired the company. Amazon, which has already closed the deal, said INLT will continue to serve its existing customers.

Amazon declined to disclose how much it paid for INLT. The online database Crunchbase described INLT as a seed-stage company that last raised $1 million in April 2018.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 25 Sep, 18:15 IST
Tags:
NEXT ARTICLE BEGINS