Amazon invests Rs 2k crore; gives stiff competition to Flipkart


MUMBAI: In an attempt to give tough competition to prime e-commerce website Flipkart, Amazon has infused US$ 296 million (Rs 2010 crore) in its Indian unit. According to regulatory filing, this investment has made Amazon’s total invested capital to Rs 7000 crore.

The investment done in November was a timely move from Amazon as Indian brands such as Flipkart and Uber have been trying to take Government’s help in a bid to challenge foreign competition such as Amazon and Ola.

Amazon India reportedly lost around Rs 1000 crore in the festive month of October with special offers and discounts to build a stronger consumer base. The e-commerce website is also losing around Rs 600 crore every month during non-sales periods. Recently, Amazon India launched prime services which offer quicker and early-access deals.

Prime has a wide range of international movies and TV shows. Along with this, Amazon Prime has also announced the launch of nine Indian original shows, which has made it the largest Indian original line-up over an OTT platform.

Adding to its wide base of services, Amazon is also building an app which would connect truck drivers with shippers, making their debut in the logistics sector.


The e-commerce firm also announced its global programme for start-up products, Launchpad, in India. Global Store was also launched in October for Indian shoppers from its US online stores, giving stiff competition to all e-commerce platforms.

Latest Reads

BTVI brings power packed line up to decode Budget 2018

As the Central Government gears up to present the last full budget before elections in 2019, India’s premiere English business news channel, BTVI has launched a power packed line up of shows in the run up to Union Budget 2018. Given the significance of this budget, the channel has aptly introduced...

iWorld Over The Top Services
hoichoi launches new brand anthem to celebrate life

After entertaining audiences with the best in Bengali entertainment, hoichoi, the world’s largest digital platform exclusively for Bengali content, has now launched its brand anthem. The anthem is an ode to celebration and talks about taking a break from busy schedules, getting together and having...

iWorld Over The Top Services
Live coverage of Australian Open 2018: #LIVtheGrandSlam

SonyLIV, the premium OTT platform of Sony Pictures Networks India (SPN), is all set to stream the Australian Open 2018. Also, known as the ‘Fans Slam’, the Australian Open is chronologically the first of the four Grand Slam Tennis events of the year. It will play out on SonyLIV from 15-28 January...

iWorld Over The Top Services
Launch of 1st indian sports radio channel - sports flashes

Sports Flashes, India’s biggest Multi-sports app launched the first Sports Radio Channel of India.

iWorld Over The Top Services
Sports fans power 35-40% of traffic on SonyLiv

MUMBAI: Contrary to popular opinion, SonyLiv is attracting a significant quantum of viewership courtesy its base of hardcore sports fans. Despite a concerted effort to provide entertainment across genres, sporting events have managed to pull in the eyeballs for the over-the-top (OTT) player in...

iWorld Over The Top Services
Amazon prime music inks a deal with zee music company

Amazon today announced a content deal with Zee Music Company that will add over 450 film soundtracks in Hindi & regional languages alongside 250 Independent artist content thus adding to the wide catalogue of millions of Indian and International songs on Amazon Prime Music. Soon to be launched...

iWorld Over The Top Services
Airtel offers free Amazon Prime subscription on plan

Bharti Airtel and Amazon India have joined hands to ring in an entertaining new year for customers. New and existing Airtel postpaid customers with an infinity plan of Rs 499 or above will get a one-year Amazon Prime membership, worth Rs 999 for free.

iWorld Over The Top Services
Evergent expands internationally and opens sales offices in india and south america

a leading provider of cloud-based, user lifecycle management solutions for video service providers, today announced the opening of two new sales offices in Mumbai, India and Sao Paulo, Brazil that will service the India, South Asian and South American markets supporting customers and partners —...

iWorld Over The Top Services

Neeraj Bhargava

Kinsane to launch a digital-first kids' entertainment company

Kinsane Entertainment Inc (Kinsane) is ready to storm the kids’ entertainment space globally. A digital-first company, Kinsane will create content for kids aged 2-11 years in numerous languages and distribute that content globally through a variety of advertising, subscription and transaction-...

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories