Friday, Oct 31, 2014

After Flipkart, Jeff Bezos infuses $2 billion investment in Amazon India

jeff Amazon.in already has a significant base of small and medium-sized businesses.
Tech Desk | New Delhi | Posted: July 30, 2014 11:35 am | Updated: July 30, 2014 12:02 pm

A day after Flipkart announced a $1 billion round of funding, its emerging rival in India, the Amazon marketplace on Wednesday announced that it will invest an additional US $2 billion to support its “rapid growth and continue to enhance the customer and seller experience in India”.

“After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations,” said Jeff Bezos, founder and CEO of Amazon.com.

“We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales. A big ‘thank you’ to our customers in India – we’ve never seen anything like this.”

Amazon.in already has a significant base of small and medium-sized businesses. Amazon caims to b the Customers across several cities in India are increasingly enjoying Amazon’s guaranteed next-day delivery on more than 300,000 products fulfilled by Amazon. Amazon.in also claims to be India’s largest store with over 17 million products.

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