E-commerce firm Amazon invests $296m in Indian unit

Security guards stand at the reception desk of the Amazon India office in Bengaluru, India, August 14, 2015. REUTERS/Abhishek N. Chinnappa

E-commerce firm Amazon has infused Rs 2,010 crore ($296 million) in its Indian unit in a bid to replace Flipkart from its leadership position.

The investment was made in November which takes its total capital invested in the company to more than Rs 7,000 crore in the past one year, according to regulatory filings.

The investment comes at a time when Flipkart’s Sachin Bansal and Ola‘s Bhavish Aggarwal are seeking government’s help in the battle against Amazon and Uber.

“We will invest what it takes to become the customers’ preferred choice in India, and are encouraged that we are India’s largest and fastest-growing e-commerce marketplace,” said an Amazon India spokeswoman in an Economic Times article.

The report also said that Amazon is estimated to have lost over Rs 1,000 crore to woo customers with special offers and discounts in the festive season in October. It is losing around Rs 600 crore every month during non-sales month.

Amazon has been aggressively expanding its services in India. In the last three years since Amazon entered in India, has introduced a few of its global programmes this year. Recently, it launched Prime service which offers quicker deliveries and early-access deals. Last week, the company announced Prime Video services in India which have a range of Hollywood and other international movies and TV shows. With this, Amazon Prime has announced the launch of nine Indian original shows, making it the largest Indian original line-up on an OTT (over-the-top) platform.

Amazon is also building an app which matches truck drivers with shippers, according to media reports. Early this month, the e-commerce firm announced the launch of its global programme for start-up products, Launchpad, in India. In October, it launched Global Store for Indian shoppers, offering products from its US online store that isn’t available in India.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.