wordpress blog stats
Connect with us

Hi, what are you looking for?

,

Amazon acquires Indian retail tech start-up Perpule

E-commerce giant Amazon acquired Perpule, an Indian retail tech start-up helping offline stores go online, regulatory filings revealed. The filings show that Amazon paid Rs 107.6 crore ($14.7 million) in an all-cash deal. Amazon is expected to further spend Rs. 36 crore ($5 million) to compensate Perpule’s employees.

An Amazon spokesperson confirmed the acquisition with MediaNama stating that “Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”

Perpule’s co-founders Abhinav Pathak, Saketh BSV and Yogesh Ghaturle, along with some other employees are expected to join Amazon, according to a report by Mint.

Perpule, founded in 2016, began by providing self-checkout and self-ordering solutions for offline stores and cafés, helping customers avoid queues. Their service is used by supermarket chains like Spar Hypermarket, More, and Big Bazaar. The company later introduced its popular cloud-based point-of-sale (PoS) offering, UltraPoS, to help Kirana stores accept all types of digital payments. Perpule recently expanded to other Southeast Asian countries including Vietnam, Thailand, Indonesia, Malaysia, and Singapore.

This is Amazon’s latest attempt to gain market share in a country where 95% of retail sales continues to happen through brick and mortar stores and comes at a time when another Indian giant, Reliance, is tapping into the Kirana store network with its subsidiary Jio Platforms. The Perpule acquisition follows on the heels of Google’s investment in DotPe, a company that offers similar services.

Advertisement. Scroll to continue reading.

Also Read

Written By

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

Views

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

News

Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.

News

The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

News

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

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