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Amazon is looking into purchasing bulk e-commerce seller Boxed, according to the New York Post.
The Post also reported that grocer Kroger had made an offer to acquire Boxed, but it was rejected.
Buying Boxed would help Amazon grow a business it has not yet leaned into.

It seems Boxed will soon need to beat off its suitors with a stick.

According to a new report in the New York Post, the buy-in-bulk e-commerce site — which some have called the “Costco for millennials — has reportedly drawn the interest of another retail giant: Amazon.

Amazon CEO Jeff Bezos personally invited Boxed CEO Chieh Huang to visit him in Seattle to discuss an acquisition, the report says.

The news comes after an earlier report that grocery giant Kroger was mulling an investment or acquisition offer for Boxed. Kroger made an offer for Boxed in the $300 to $400 million range, but it was not accepted, according to the Post, and Kroger has not yet made another bid.

A Forbes article from earlier in the month reported that Boxed was looking for an offer in the $500 million range. Boxed’s latest valuation of $470 million came in when it last …read more

Source:: Businessinsider – Technology

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