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Amazon Invests Rs 230 Crore in its Indian Payment Platform

17Jul By Gauri SinghNo Comments

BUSINESS

Amazon Invests Rs 230 Crore in its Indian Payment Platform

The e-commerce giant Amazon has freshly invested Rs 230 crore in ‘Amazon Pay' which is the Indian payment platform of Amazon. According to the Registrar of Companies (RoC), Amazon Pay India has allotted 23 crore equity shares worth Rs 230 crore to the existing shareholders on the right basis. The shareholders include Amazon Corporate Holdings and Amazon.com.incs. The event has come months after the company invested Rs 195 crore in the same business in March. Since 2016, the total amount invested in the payments business till date is around Rs 1,000 crore. With this, the company aims to make its operations stronger in the country and compete with the other players including PhonePe and Paytm. Apart from this, Amazon is also aiming to increase the user base and traction on the platf...

Tips to Grab the Best Deals on Amazon Prime Day Sale

16Jul By Gauri SinghNo Comments

News

Tips to Grab the Best Deals on Amazon Prime Day Sale

The e-commerce giant, Amazon has started off with its flagship event today at 12 noon, that is known as the Prime Day Sale, which happens across 17 countries that offer Amazon Prime services including India. In India, this is the second time that the company is hosting the Amazon Prime Day sale. In the previous year, the sale witnessed only 34 exclusive product launches. Whereas, this year the company’s sale has come up with over 200 exclusive product launches. The sale that started today will continue for the next 36-hours till the midnight of 17th July 2018. It’s a great event and thus, the customers need to keep a track of the deals to get the best offers and bargains. And thus, here we have some tips for you all to grab the best out of the sale. -> The customers ...

Amazon Web Services Eyes to Sell its Networking Switches

14Jul By Gauri SinghNo Comments

BUSINESS

Amazon Web Services Eyes to Sell its Networking Switches

Amazon’s cloud service business ‘Amazon Web Services’ is eyeing to sell its own networking switches to the business customers. Amazon Web Services could price its white-box switches 70-80% less than comparable switches from networking giant Cisco, as reported by one of the persons with direct knowledge of the unit's plan. The company expects to launch the switches in the next 18 months. It stated that the devices will include open-source software and unbranded hardware known as "white-box" switches and will be introduced with built-in connections to AWS cloud services, such as servers and storage. Amazon Web Services (AWS) offers reliable, scalable, and inexpensive cloud computing services. It is a subsidiary of Amazon.com and offers on-demand cloud computing platforms to individuals...

Snapchat’s Camera Soon May Help Users To Shop on Amazon

10Jul By Gauri SinghNo Comments

News

Snapchat’s Camera Soon May Help Users To Shop on Amazon

The popular photo-social media application Snapchat is supposedly working with the e-commerce major Amazon with the aim to launch a feature that would allow the app’s camera to identify objects within the app and pull up information about them along with the e-commerce facts and listings from Amazon. This latest feature is expected to be termed as either "Visual Search" or "Camera Search". While using the feature, the app will help the users to point their cameras at a barcode, object or a source of music, long-press the camera button and get the related information. "It's hard to say how far along the feature is, its possible scale and scope, or when we might see it arrive, although it seems to be quite close to being ready for prime-time according to the information," the report stat...

Market Capitalization of 100 Global Companies Rises To $20 Trillion

29Jun By Gauri SinghNo Comments

News

Market Capitalization of 100 Global Companies Rises To $20 Trillion

The total market capitalization of the top 100 global companies has risen up by 15 percent since last year to $20 trillion. The US stood at the leading position with 54 companies on the list. In terms of the absolute rise in market capitalization, the best and the strongest performer was Amazon gaining $278 billion or 66 percent in the value compared to the previous year. The companies that come after the e-commerce giant are the two Chinese companies - Tencent, up by $224 billion or 82 percent, and Alibaba, up by $ 201 billion or 75 percent. The next three highest performers in absolute terms are all from the US including Microsoft, Alphabet and Apple. According to the reports, the total capitalization of the top 100 global companies has grown on an annualized basis, since the gl...

29Jun By Gauri SinghNo Comments

FUNDING

Amazon To Be a Part Of Shuttl’s Fresh Funding Round

The mobile-based minibus service platform, Shuttl is eyeing to raise an amount of $11 million (around Rs 76 crore) in a new round of funding from a group of investors along with the e-commerce giant Amazon. The investors that are expected to invest in this funding round are existing investors Sequoia Capital, Lightspeed Venture Partners and Times Internet Limited. Along with this, another fresh investor may include Dentsu Ventures which is a Japan-based corporate venture fund. Apart from this, it is also being said that Ambiga Subramanian, co-founder of data analytics MuSigma, will also invest according to her personal capacity. With the help of the investment, the company plans to expand and improve its customer base as the bus services apps have struggled to scale up and have of...

Amazon Acquires an Online Pharmacy For $1 Billion

29Jun By Gauri SinghNo Comments

ACQUISITION

Amazon Acquires an Online Pharmacy For $1 Billion

The e-commerce giant Amazon has reportedly acquired an online pharmacy called PillPack that fill, sort, and deliver all your medications in personalized packets based on when you need to take them. The amount of the deal is claimed to be roughly around $1 billion in cash for PillPack. This acquisition will give Amazon the ability to ship prescriptions around the country, and overnight. PillPack is a full-service pharmacy that delivers a better, simpler experience for people managing multiple medications. With the help of PillPack, the customers can contact the pharmacists 24/7, update their medication at any time and also review their bill in your monthly summary. “PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology. PillPack is meaningf...

21Jun By Gauri SinghNo Comments

News

Flipkart To Launch Its Loyalty Programme To Combat Amazon Prime

With the announcement of the Amazon’s Prime Day sale, rival Flipkart is also expected to introduce its loyalty programme soon by the end of July or in the starting of August. The programme, however, will be carried forward in a way different from it has ever been. The company won’t charge any subscription fee, rather the Flipkart customer loyalty programme will be based on the amount of purchases a customer does. After hitting the given amount of purchases, the customer will be eligible to enjoy the benefits of the programme. “The idea is to start treating the cohort of loyal customers as more special. This is why it will be based on frequency and repeat purchases rather than a fixed fee paid upfront,” a Flipkart employee said. According to the company, the loyalty programme will offe...

Amazon to Launch Audible Service During Diwali in India

13Jun By Lavina TolaniNo Comments

Tech

Amazon to Launch Audible Service During Diwali in India

E-commerce giant Amazon is set to debut its audiobook and entertainment business Audible in India during the Diwali season, as reported by familiar sources. The company has already announced a six-book deal with India's most renowned English author, Chetan Bhagat as a part of which it will publish these books globally in print, eBook and audio formats, with the first title expected to be out in October 2018. Meanwhile, Amazon is also looking for a reduction in GST on ebooks before it can go ahead with locally produced Audible books narrated by Indians. Interestingly, e-books attract 18% GST compared to none in physical books. An Amazon spokesperson's said in an email statement as reported by ET, We are always looking to continue to develop our offerings on behalf of our global me...

Amazon Cuts Down The Price Of Its Echo Devices Yet Again

12Jun By Gauri SinghNo Comments

Tech

Amazon Cuts Down The Price Of Its Echo Devices Yet Again

Amazon has brought in a modification in the prices of its echo devices in India namely Amazon Echo Dot and Amazon Echo smart speakers. The prices of both the devices have been pulled down to a great extent. The Echo Dot is now being sold at a price of Rs 4,099 which was earlier being sold for Rs 4,499 in the market. On the other hand, the Echo is now available at Rs 8,999 which earlier was being sold at a price of Rs 9,999. The Echo has received a price cut of Rs 1,000 while Echo Dot has received a price cut of Rs 400 that has made it the most affordable and reliable Echo device. This has been the second discount offered to the customers in less than two months of the launch of the product. These devices are perfect for those who do not want to spend a lot and still have a need to ow...

Amazon India Offers Cashback to Customers Celebrating Wallet Success

7Jun By Lavina TolaniNo Comments

News

Amazon India Offers Cashback to Customers Celebrating Wallet Success

E-commerce giant Amazon is loading cash to its digital wallet for customers in India as it is actively pushing to deepen its footprint in the country battling competition from rivals-Alibaba and Walmart. A letter dated June 5 issued to customers, which also marked the fifth anniversary of launch in India, Jeff Bezos, Amazon founder offered a cashback of Rs 250 to be paid into Amazon pay wallets for customers who shopped online for goods worth Rs 1000 on Wednesday. It is interesting to note that the US retail giant has reported a 126% growth in transactions and 68% growth in unique users in its Indian business operations. Amazon has invested Rs. 700 crore in its Indian digital payment business since 2016 as it is looking forward to boosting its e-wallet and bring in new innovations...

Ajim Premji to Invest $250 Mn in Future Group, Amazon in talks with Biyani

6Jun By Lavina TolaniNo Comments

BUSINESS

Ajim Premji to Invest $250 Mn in Future Group, Amazon in talks with Biyani

Premji Invest, the family office of Wipro Head Ajim Premji is eyeing to invest $250 million in the holding company of Kishore Biyani's Future Group. According to a report published in leading daily, Premji invest can pick up 6 percent stake sale in Future Retail at a time when the market is already buzzing discussions over Amazon to pick up a 10% stake in brick and mortar retailer. Kishore Biyani's move to shore up funds has come at a time when US giant Walmart has taken a huge bet on India by investing $16 billion in homegrown e-commerce startup Flipkart valued at $21 billion. It is crucial to note that PremjiInvest had earlier bought 8 per cent stake the group's branded apparel chain in Future Lifestyle Fashions, however, it had half of its stake to private equity fund L Catterton ...