Amazon.in Raises $385.7 Mn Ahead of Price War Against Flipkart-Walmart
Amazon is gearing up for a price war in the wake of confirmations about the Flipkart-Walmart acquisition deal. The American e-commerce giant is set to infuse its funds with fresh capital worth an eye-dropping $385.7 Mn (INR 2,600 Cr) into its Indian unit, Amazon Seller Services to rival Indian arch-enemy Flipkart, according to a Livemint report.
Amazon Corporate Holdings and Amazon.com inc. have distributed $385.7 Mn worth of funds in its Indian operations, confirmed by fillings to the corporate affairs ministry.
The entry of deep-pocketed Walmart in the Indian e-commerce market is alarming the US digital marketplace giant who bids to expand and strengthen its capital to rival dropping prices that will probably follow the acquisition of Bengaluru-based Flipkart.
The report also st...