SellerX apparently lays off employees

According to media reports, the Berlin-based store buyer has laid off dozens of employees.

The Berlin-based e-commerce buyer SellerX is said to have cut 28 jobs, according to the industry portal Sifted reports. The company employs a total of 700 people.

SellerX is a so-called Amazon aggregator. The company buys successful stores on the platform and bundles them into its own company. The start-up was founded by Harvard graduates Philipp Triebel and Malte Horeyseck in 2020. The company achieved unicorn status in 2021. The financing was backed by renowned investors such as Blackrock and Sofina from Belgium. According to SellerX, it has used the capital to acquire 40 stores to date.

Amazon aggregators experienced a boom during the pandemic. Online retail flourished thanks to closed stores. However, store buyers are now also feeling the effects of the economic difficulties. For example, SellerX competitor Berlin Brands Group recently laid off almost 100 employees.