AMA­ZON IN­VESTS $300M IN IN­DIA UNIT

Financial Chronicle - - FRONT PAGE - NIS­HANT SHARMA

Ama­zon.com Inc has in­vested about $300 mil­lion in its In­dian mar­ket­place, tak­ing its to­tal in­fu­sion in the busi­ness to $4.7 bil­lion.

Ama­zon.com Inc in­vested about $300 mil­lion (Rs 2,200 crore) in its In­dian mar­ket­place, tak­ing its to­tal in­fu­sion in the busi­ness to $4.7 bil­lion as it faces a fresh chal­lenge from Wal­mart backed Flip­kart.

The lat­est in­vest­ment into Ama­zon Sellers Ser­vices Pvt. Ltd. came from Sin­ga­pore-based Ama­zon Cor­po­rate Hold­ings and Mau­ri­tius-based Ama­zon.com.inc, fil­ings made with the Regis­trar of Com­pa­nies show.

Ama­zon is ex­pected to reach $11.2 bil­lion in gross mer­chan­dise in the year end­ing March, ac­cord­ing to Bar­clays, mak­ing the coun­try its most im­por­tant mar­ket out­side the US Bil­lion­aire Jeff Be­zos con­tin­ues to plough in­vest­ments in In­dia as Ama­zon now faces Wal­mart Inc, which ac­quired a 77 per­cent stake in Flip­kart for $16 bil­lion, and Alibaba-backed Paytm Mall and bil­lion­aire Mukesh Am­bani’s

AReliance Re­tail Ltd. ma­zon’s fourth in­vest­ment into the In­dian unit brings it just $300 mil­lion shy of the $5 bil­lion com­mit­ted by Be­zos for the In­dian busi­ness. It in­fused $1.3 bil­lion (about Rs 9,450 crore) this year, mak­ing it the largest in­vest­ment in a sin­gle year into the arm that runs Ama­zon.in. It has in­vested $ 4.1 bil­lion in the mar­ket­place alone so far.

The Seat­tle-based com­pany’s rev­enue grew 57 per cent to Rs 4,928 crore in 2017-18. Losses, how­ever, widened Rs 6,287 crore from a year ear­lier.

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