Afternoon Coffee: Amazon Business Targets Grainger, Tipalti Raises $14 Million

Amazon is targeting Grainger's supremacy in the industrial supply market, according to reports from Industrial Distribution. Court transcripts from earlier this year indicate that Amazon Business head Prentis Wilson sees taking on Grainer and Staples as top priorities for the online marketplace provider.

The industrial distribution and office supply markets are “must-wins” for the company, Wilson said. Amazon Business appears to also be targeting a move into public sector markets, with the recent hire of Administrator of the Office of Management and Budget Anne Rung. Read our Q&A with Prentis Wilson to learn more about his ambitions for Amazon Business.

Tipalti, which provides a supplier payments automation platform, announced recently a $14 million funding round led by SGVC. Tipalti plans to use the new round of funding “to aggressively accelerate the company’s growth,” including grow its sales and marketing organizations, the company said in a press release.

Nucor agreed to acquire Chicago-based Independence Tube Corp. for $435 million, Crain’s Chicago Business reported. A recovery in metal prices is encouraging metal producers to boost their presence in value-added products. ITC makes hollow structural section steel tubing from plants in Illinois and Alabama.

And finally, Shiftgig announced Tuesday it had acquired BookedOut, a logistics platform for experiential marketing. The companies hope to combine their expertise to strengthen their positions in the marketplace for on-demand work. Stay tuned for more details and analysis from Andrew Karpie on this development.

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