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Amazon India Receives INR 4,400 Cr Funding From The Parent Company
Wednesday, 06 November 2019, 17:14 IST
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This investment is providing great opportunity to expand the user base
in India. The Financial Express reports Satist Meena, Forecast Analyst Forrester saying, "It looks like the slowdown is giving them an opportunity to reach out to customers in a better way because customers are looking for a better deal." Further, while certain sectors have been hit by sluggish sales, online commerce platforms "look at it as an opportunity to expand the market,add more buyers, and allow more people to experiment with online channel,"Satish Meena said.
The company already bagged USD 5 billion in its first five years of operation. With the series of new investments it has announced that it will soon pump another USB 2 billion to the asset
However, Amazon's latest funding is not likely towards making up for the losses in FY19. "Amazon's focus is on investment, and not making money," Satish Meena told Financial Express Online. Further, the company is here for a long-term and two of its biggest arms as of now, viz Amazon Sellers Service and Amazon Pay need funding to grow, he added.
The company already bagged USD 5 billion in its first five years of operation. With the series of new investments it has announced that it will soon pump another USB 2 billion to the asset
However, Amazon's latest funding is not likely towards making up for the losses in FY19. "Amazon's focus is on investment, and not making money," Satish Meena told Financial Express Online. Further, the company is here for a long-term and two of its biggest arms as of now, viz Amazon Sellers Service and Amazon Pay need funding to grow, he added.