1. After Amazon clocks $400 mn festive season sales, Flipkart $850 mn, Amazon.com pumps in $250 mn in India arm

After Amazon clocks $400 mn festive season sales, Flipkart $850 mn, Amazon.com pumps in $250 mn in India arm

Global e-commerce giant Amazon.com has infused Rs 1,620 crore, or $250 million, into the Indian marketplace arm of operations — Amazon Seller Services, according to the company’s filing with the registrar of companies.

By: | New Delhi | Published: October 17, 2017 6:40 AM
Amazon, Amazon clocks 0 mn, festive season sales, Flipkart 0 mn, Flipkart, Indian market, India, market, Indian marketplace Global e-commerce giant Amazon.com has infused Rs 1,620 crore, or 0 million, into the Indian marketplace arm of operations — Amazon Seller Services, according to the company’s filing with the registrar of companies.

Global e-commerce giant Amazon.com has infused Rs 1,620 crore, or $250 million, into the Indian marketplace arm of operations — Amazon Seller Services, according to the company’s filing with the registrar of companies. The allotment dated September 15, 2017, had two allottees — the Singapore-based entity Amazon Corporate Holdings and Mauritius-based Amazon.com. Amazon Seller Services issued 1,619,925,148 shares to Amazon Corporate Holdings and 74,852 shares to Amazon.com for Rs 10 apiece, who are investing a total of Rs 1,620 crore. The investment joins the league of other periodic investments that parent company Amazon has made after founder and CEO Jeff Bezos committed $5 billion to its Indian businesses in 2016. Earlier this year, the parent company Amazon had invested Rs 1,680 crore in Amazon Seller Services, the e-commerce arm, and `341 crore in Amazon Wholesale (India).

“With a long-term commitment to make e-commerce a habit for Indian customers, we continue to invest in the necessary technology and infrastructure… while continuing to launch innovative India-first initiatives as well as completely new offerings like Echo, Prime and Prime Video,” an Amazon India spokesperson said. The funding has been made amid festive season sales in India where Amazon Seller Services clocked gross merchandise value of $400 million in the first leg of the festive season sale from September 21-24, while rival Flipkart clocked $850 million during its five-day sale period in the same month, according to Jefferies.

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