Is Amazon Building A New Crowdfunding Platform for Inventors and Investors?

Over the last few months, Amazon has been hiring for a new endeavor with the goal of creating the “best end-to-end platform for startups” In what appears to be the next step in becoming a one-stop-shop for everything, the company is developing an inventor platform aimed at supporting inventors and selling their products. In one job description, Amazon promotes the new position as a “new platform with investors.”

Also read: What Edward Snowden Has To Say About Amazon

Amazon Takes on Crowdfunding?

amazon platformOne listing for a senior marketing manager asks, “Are you inspired by inventors who develop and launch new products? Do you want to market the world’s best end-to-end platform for startups? Do you see the opportunity to connect these entrepreneurs with Amazon’s hundreds of millions of customers through creative and strategic marketing?”

Sources say this move could be connected to another recent initiative the company has been pursuing. Amazon has been attempting to build relationships with startup hardware and electronic companies. Their goal has been to convince these young companies to grow their business by utilizing the large site as the main sales channel.

This move may be in response to marketplaces like Etsy and The Gormmet, which have seen great success in supporting the next generation of tech entrepreneurs. Amazon might be trying to compete with crowdfunding platforms like Kickstarter and Indiegogo by helping entrepreneurs raise funds for their projects.

In addition to providing funding for start-ups, according to a former employee, Amazon might also be considering bringing these start-ups in-house for mentoring. This wouldn’t be unheard of as the company has sponsored a contest in the past that rewarded 20 creators of Indiegogo campaigns with “entrepreneurial mentorship.” Winners also received three free months of a professional seller account and a $200 credit towards the warehouse and shipping program.

Further speculation suggests Amazon could be competing with Quirky, a New York City company that helps inventors convert their ideas into products. Quirky sells some of these products on Amazon, yet from past experience, we know that Amazon is not afraid to compete with its sellers.

Amazon has continued to remain silent on the topic.

Images from Shutterstock.

Author:
A UNC Chapel Hill graduate, blockchain enthusiast and analyst. I have a background in programming and IT, strong studies in econ, stats and game theory. I'm interested in online privacy and privacy laws.