Amazon aggregators
: chances and risks within the emerging market

  • Kerrin Sofie Bozena Spintig (Student)

Student thesis: Master's Thesis


The purpose of this thesis is to explore the indicators for the rise of Amazon aggregators, the differentiation factors and the corresponding chances and risks. The aim is to examine the similarities and differences between the facts found in previous literature and the criteria named by aggregators them selves. In the literature review of this thesis, an understanding of the most relevant criteria that made companies pursue the roll-up strategy with the special focus on the marketplace Amazon is formed. The empirical part contributes to the existing literature by providing insights from three different aggregators. In total five employees of aggregators are interviewed. The results of this thesis show that the rise of aggregators were fueled by Thrasio’s unicorn announcement, the sudden interest of venture capitalist, Amazon as a functioning marketplace and the benefits of a roll-up strategy. While there were several risks for aggregators identified such as acquisition risk, the high dependency on Amazon and an overall operational risk, the main goal for aggregators is to achieve an IPO. Accompanied by the fact that there is much happening in the market, a partial consolidation and even bigger secondary market will most likely follow.
Date of Award27 Jan 2022
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorJosé Manuel Vasconcelos Silva e Sousa (Supervisor)


  • Amazon aggregator
  • Roll-up strategy
  • Digital M&A deals


  • Mestrado em Gestão e Administração de Empresas

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