Brian Olsavsky Amazon CFO reported that Amazon India’s sellers on marketplace sold more products in the fourth quarter of 2015 than in all four quarters combined in 2014. The quarter saw Amazon’s worldwide revenue increase by 22% to $35.7 Bn. The company also launched its grocery delivery app in India by the name Amazon Now. The app will deliver everyday essentials in two hours
Important Developments Of The Week
Snapdeal Pilots Home Services Category
Snapdeal started pilot of its home-services category across four cities – Delhi, Gurgaon, Mumbai and Pune. Easyfix, Hicare, Terminix SIS and Jack On Block are the four service providers listed on its website.
Junglee To Sell Used Goods
Amazon plans to launch the service to sell used goods on its subsidiary Junglee.com. The initiative will be led by Mahendra Nerurkar, General Manager at Junglee. It will compete with predominant players like OLX and Quikr.
Amazon Traders Alleged Of $30 Mn Tax Evasion
Amazon and the traders associated with it have been alleged of tax evasion of about $30 Mn (INR 200 Cr.) by misusing Cenvat (central value added tax) credit facilities. The Directorate General of Central Excise Intelligence (DGCEI) is investigating their accounts.
ZipGo Suspends Services
ZipGo again suspended its services in Bangalore after the state transport department alleged them of violating rules and operating without permits.
Hiree Fires 10% Workforce
Hiree laid off 10-15% of its workforce mainly from the sales department. During July-August 2015, Hiree had started team expansion and hired senior employees from companies like DELL, Oracle, etc. to boost its sales efforts.