Jeff Bezos, CEO and founder of Amazon. Photo credit: Steve Jurvetson.
The news:
- Amazon pumped US$260 million into its India unit last month, according to a regulatory filing. This is part of the US$5 billion investment that Amazon boss Jeff Bezos committed to its Indian arm.
-
Amazon India has so far received nearly half of that commitment: US$2.3 billion. It has been investing in warehouses, logistics, and broadening its product range.
Why it matters:
- The ecommerce battle has heated up this year, with SoftBank’s US$1.4 billion investment in Alibaba-backed Paytm, and a matching US$1.4 billion into Flipkart led by Tencent. Negotiations are on for the sale of a struggling third Indian player, Snapdeal, to Flipkart, which makes it a three-cornered battle.
-
Amazon lost out to Alibaba in China, but is on stronger footing in the neutral territory of India’s relatively more open market to beat its Chinese rivals.
See: Pros and cons for Alibaba in battle with Amazon on neutral ground in India
Source: Mint.
This post Brief: Amazon pumps $260m into India unit to fight off Chinese rivals appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/amazon-pumps-260-million-into-india-to-fight-chinese-rivals
via IFTTT
No comments:
Post a Comment