Homeretail News

Amazon infuses Rs 1,125 crore into India marketplace ahead of festive sale

Amazon infuses Rs 1,125 crore into India marketplace ahead of festive sale

Amazon infuses Rs 1,125 crore into India marketplace ahead of festive sale
Profile image

By Mugdha Variyar  Sept 29, 2020 3:18 PM IST (Published)

Amazon has infused Rs 1,125 crore in Amazon India’s marketplace business just ahead of the upcoming festive sales, filings sourced from Tofler show. 

Amazon has infused Rs 1,125 crore in Amazon India’s marketplace business just ahead of the upcoming festive sales, filings sourced from Tofler show.

Recommended Articles

View All

The e-commerce company has been ramping up operations ahead of its flagship Great Indian Festival sale. According to Redseer’s recent report, the main festive sale events, which are dominated by Amazon’s sale and Flipkart’s Big Billion Day sale, is expected to see sales worth $4 billion, 50 percent higher than last year.
Amazon Seller Services Pvt Ltd, which runs the marketplace in India, received the funding from Amazon Corporate Holdings Private Limited, Singapore and Amazon.com Inc Limited, Mauritius, the filings show.
According to paper.vc, Amazon’s India business has received an estimated infusion of $750 million so far this year. Amazon India had received $1.26 billion in 2019, and $826 million in 2018, paper.vc said.
Amazon did not respond to specific queries.
The company has been aggressively expanding its delivery network and also hired nearly 50,000 season workers over the last few months.
Flipkart also received a huge infusion of $1.2 billion this year in a round led by Walmart, which valued the company at $25 billion.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng