Shopee and Amazon are working to merge their commerce and ecommerce platforms, according to a new report.
The news comes after a flurry of activity in the marketplace this year, including Amazon buying Shopee, the largest e-commerce marketplace in the world, for $3 billion in cash in 2016.
“This merger represents a big opportunity for both companies to improve their customer experiences and expand their businesses,” said Matt B. Smith, CEO of Shopee.
“Amazon and Shopee are both great brands with a strong track record of building great customer experiences, and we look forward to expanding our collaboration to drive the growth of both companies.”
The new Amazon and Shopbee merger is part of Amazon’s efforts to “redefine the terms of trade” and “bring new digital business models to the marketplace,” according to the announcement.
Amazon has previously announced it would invest $1 billion in Shopbee and create a new marketplace in 2020.
Amazon announced last year it was adding ecommerce to its list of categories, along with entertainment and technology.
“Our new partnership will enable both businesses to expand their offerings across multiple platforms,” said Amazon CEO Jeff Bezos.
The announcement comes as Amazon’s stock is up nearly 20% this year.
For more information on the merger, read Shopee’s blog post.
ecommerce and e commerce click funnels.