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

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

by Carter GraydonJanuary 9, 2015

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.

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  • CrowdFundingPlanning

    Amazon has been in business post production market place. CrowdFunding is a Pre order ( goods do not exist yet) marketplace that has some risk built in to it. Amazon can easily launch a CrowdFunding portal / website, they have CrowdFunding experience, shopping cart, fulfillment, distribution cloud engines ( EC2, S3…etc.)….etc. etc. . They also have millions in their consumer database and knowledge of their vertical of interests . Amazon has marketing budget and a brand name people like. Then I believe they can build the portal rather than buy one in less than few months and launch it and be a big player in less than a year . It is interesting to see what Google is up to now. After all CrowdFunding is a 93 billion dollar marketplace. I personally would use it for my clients since they can promote the project through many, many channels and specially can leverage the project by using their consumer database .
    Just imagine as you purchasing a mobile phone from Amazon and at the bottom of the page you see two smart watches being crowdfunded at the time which could be a nice complement to the mobile phone.

    David Khorram CKO CrowdFundMadeEsay & CrowdFundingPlanning