SUMMARY
Amazon Corporate Holdings Private Limited is pumping in INR 1459 Cr, whereas Amazon.com.incs Ltd will be cashing in INR 6.7 lakh
The investment has come on the heels of Amazon pumping in INR 1,000 Cr in Amazon Pay India
The new investment in Amazon Seller Services seems to be part of Amazon’s goal to make further inroads in tier III and tier IV towns of the country
India registered Amazon Seller Services Private Limited, the seller marketplace of US-based ecommerce giant, has received INR 1,460 Cr in a corporate round from its parent company.
As per the filings accessed by Inc42, Amazon Corporate Holdings Private Limited is pumping in INR 1,459 Cr, whereas Amazon.com.incs Ltd will be cashing in INR 6.7 lakh.
For the investment, Amazon Seller Services will be allotted 146 Cr equity shares. It is worth noting that the investment has come on the heels of Amazon pumping in INR 1,000 Cr in Amazon Pay India around Diwali.
The new investment in Amazon Seller Services seems to be part of Amazon’s goal to make further inroads in tier III and tier IV towns.
Amazon India ran its flagship Diwali sale – The Great Indian Festival in October. The US-based ecommerce giant claimed that during the sale, where it was competing against other ecommerce giants such as Walmart-backed Flipkart, newly listed Nykaa, Kunal Bahl’s Snapdeal among others, witnessed 79% of new customers enetering from tier II and tier III towns like Ernakulam, Guntur, Patna, among others.
The company claimed that around 30,000 sellers on Amazon became Lakhpatis (millionaires) during this festive season sale. The company revealed that around 12 local shops on Amazon sellers grossed sales worth INR 1 Cr. Local shops on Amazon sellers clocked a 2X spike and sold orders over 10 products per minute.
The company saw participation from 360K micro, and small medium enterprises (MSME) on Amazon Business.
Amazon India claims to have more than 8,50,000 sellers working with them in the country. Last year, the company added more than 1.5 lakh sellers and over 70,000 Indian exporters.
