wordpress blog stats
Connect with us

Hi, what are you looking for?

Amazon India gets Rs 1620 crore infusion as rivalry with Flipkart heats up

Continuing with the bullish sentiment in India, Amazon has further infused Rs 1620 crore in the Indian e-commerce arm, Amazon Seller Services, Registrar of Companies documents showed. This was first reported by the Economic Times. The capital came in from Amazon Singapore and Amazon Mauritius.

The investment comes at a time when its main rival, Flipkart, has been pumping in funds into different parts of its operations. Flipkart raised funds of $2.5 billion from the Softbank Vision Fund and Tencent, Microsoft and eBay in August. So far it has invested in:

Currently, Amazon’s total investment commitment in India stands at $5 billion: the $3 billion announced in June 2016, plus the $2 billion investment announced back in July 2014, which the company has already completed in phases over the past two years.

Meanwhile, Amazon has been investing in its logistics and payments services as well.

The latest investment is significant as Amazon and Flipkart are locked in a battle for festive season sales in the country. Flipkart claimed that sales doubled from last year and that it accounted for at least 70% of total e-commerce sales in India during its five-day Big Billion Days sale, as indicated by this Mint report. Meanwhile, Amazon did not comment on its sales.

Shopper’s Stop investment

Amazon also acquired 5% stake in Shopper’s Stop for Rs 179.25 crore. Shoppers Stop will be using the funds raised through this minority stake sale to further expand its physical and online retail biz, plus it has tied-up with Amazon Seller Services Pvt. Ltd. (Amazon’s India unit) to sell its in-house brands on the e-commerce marketplace through a dedicated microsite.

Advertisement. Scroll to continue reading.

You May Also Like


Digital payment transactions through Prepaid Payment Instruments — which includes both Mobile Wallets and PPI Cards combined —stood 438.7 million transactions  at the end...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ