wordpress blog stats
Connect with us

Hi, what are you looking for?

, ,

Amazon India gets infusion of Rs 1950cr from its parent

Amazon India (Amazon Seller Services Pvt. Ltd) has received a massive infusion of Rs 1950 crore to up its e-commerce game in India a notch higher, Registrar of Companies documents showed. The development was first reported by The Economic Times. The capital came in from its parent Amazon Inc. (US) and Amazon Singapore.

The investment comes two months after Amazon infused Rs 2900 crore in Amazon India. Note that, Amazon has a total investment commitment in India of $5 billion (approx Rs 32600 crore)- $3 billion the company committed in June last year, plus $2 billion investment announced back in July 2014, which the company has already exceeded. Following are some investments:

Competition heats up for Flipkart

Its main rival, Flipkart has been too pumping in funds into different parts of its operations and trying to match up to Amazon’s funding power. In August last year, Flipkart raised funding to the tune of $2.5-2.6 billion from SoftBank’s $100 billion Vision Fund, and $1.4 billion from Microsoft, eBay and Tencent in April. In October 2017, Flipkart committed $500 million in its payments am PhonePe, which is an addition to $75 million funds infusion Flipkart had made in PhonePe since acquiring it in 2015. And then it injected Rs 961.4 crore in Instakart Services Pvt. Ltd., which operates its logistics arm eKart.

Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

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
Name:*
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