Amazon pumps in Rs 830 crore in its ‘Seller Services’ in India
Amazon Seller Services, the entity that runs the Amazon marketplace in India, said its US parent infused Rs 830 crore into the company.
Amazon Seller Services said it allotted 830 million equity shares to Amazon Corporate Holdings Ltd and Amazon.com.inc as part of the fund infusion.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitMITMIT Technology Leadership and InnovationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitOn January 19, Amazon invested Rs 350 crore into Pay (India) Ltd, the entity that runs Amazon Pay. With this, Amazon's investment in its India entities this year have already crossed Rs 1,000 crore.
The investment into the marketplace comes even as the US group has been focusing a lot more on investing into its cloud services arm, Amazon Web Services, than the core ecommerce business.
In June last year, chief executive Andy Jassy said the firm would invest a further $15 billion into the India market, taking its total investments in India to over $26 billion by 2030.
In December, ET reported that Amazon had begun a restructuring of its top management in India. Noor Patel, who headed category management in India, is moving to the US.
Patel’s role will be divided between Nishant Sardana and Ranjan Babu, according to an internal communication from vice president and country head Manish Tiwari.
The reshuffle could also lead to a new dual leadership structure under Patel
