Source: Business Standard, Nov 16, 2017
Bengaluru: US online retail giant Amazon has invested Rs 6,200 crore (about $1 billion) in its e-commerce business in India since the beginning of this calendar year as it competes with cash-flush rival Flipkart.
Amazon Seller Services, largest arm of the US company here, has seen three rounds of capital infusion this year. The largest, of Rs 2,900 crore, was at end-September, according to official filings.
This brings the total pumped into this arm to Rs 17,839 crore ($2.7 billion). The figure shows how quickly Amazon has ramped up its investment in Indian e-commerce, with $1 billion of that being invested in 2017. The firm has also seen its authorised capital rise from Rs 16,000 crore to Rs 31,000 crore, which could signal the coming in of a lot more investment. Amazon aims to overtake Flipkart, which claims to have a cash reserve of $4 billion.