iWorld
×

Amazon reportedly in talks to buy Jabong in India

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/internet-images/2014/10/10/jabong%202.jpg?itok=F88QPHvn

MUMBAI: With the rivalry rising in the e-commerce space, it looks like the Indian arm of Amazon is ready to heat it up a notch.  The e-tailer is reportedly in talks with Indian fashion site Jabong to acquire it.

According to a report in a leading daily, the talks are at a preliminary stage and despite being valued at around $500 million in a recent regulatory filing, Jabong is holding out for $700 million as it reports to have multiple suitors.

Denying commenting on the speculations, Amazon said, “We do not comment on anything we may or may not do in the future.”

The report quoted a person working with the US e-tailer as saying that Jabong was ideal for acquisition since Flipkart had acquired Myntra in May for around $330 million.

Flipkart-Myntra reportedly has 50 per cent of India’s online fashion retail market share with Jabong at 25 per cent.

Amazon CEO Jeff Bozos had promised to invest $2 billion in its India operations with a big chunk of it going towards acquisitions.

Fashion e-tailer Jabong is part of a global group after its investors German venture capital group Rocket Internet and with Swedish investor Kinnevik announcing a merger of five emerging market fashion start-ups. The merged entity is called Global Fashion Group (GFG) and worth about worth 2.7 billion euros or around Rs 21,000 crore.

The company's CEO Arun Chandra Mohan has also been pretty optimistic about the company's outlook and had said in a recent interview to the paper said, "I believe the valuation of my company is going to be significant. We are going to be a billion dollar business."

Amazon India started offering fashion products on its marketplace in May, and an acquisition offers a swift route to scaling up. In the US, Amazon chose a similar strategy to improve its fashion credentials by buying Zappos in 2009. 

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/chanpreet.jpg?itok=kJP74MtU
Chanpreet Arora appointed CEO of Vice Media India

Vice Media India has a new sheriff in town. Chanpreet Arora has been appointed as the CEO of the company and is working from the Vice office in Delhi.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/Salil_Kapoor.jpg?itok=Vnf7S5Vp
Hooq to maintain its Hollywood focus in India

MUMBAI: Content differentiates the platform and hook the consumers. To become a differentiator, VoD platform Hooq differentiated its offering by not diluting its energy into various verticals.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/amazon.jpg?itok=6wIkDXEO
Amazon Prime Music ties up with Saregama

Amazon announced its partnership with Saregama to stream the label’s catalog of 117,000 tracks on Amazon Prime Music when the ad-free music streaming service launches in India.Saregama has one of the largest and the most coveted Indian music selections across multiple Indian languages. It offers a...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/hotstar.jpg?itok=IJq0RunE
Leaving a Job is never easy, Hotstar gives you the best ways to #QuitInStyle

In a field as exciting and opportunity-abundant as technology, a job that’s mediocre, mundane or downright mechanical just won’t cut it anymore. But, there’s never really an easy way to say goodbye. Is there? With its new #QuitInStyle series, Hotstar, India’s leading premium streaming platform,...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/20/FilmStruck.jpg?itok=er1h7VMN
Turner International announces SVOD service FilmStruck

MUMBAI: Turner International’s Digital Ventures & Innovation (DV&I) Group and Warner Bros Digital Networks (WBDN) have announced a joint venture to launch a new, multi-territory movie-streaming service called FilmStruck.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/20/Mukesh-Ambani.jpg?itok=SLjRR2PE
RIL's Rs 2.35 lakh crore investments in Jio start to payoff

BENGALURU: Mukesh Dhirubhai Ambani-run Reliance Industries Ltd (RIL) has invested a massive amount of money into the largest start-up in the world–Reliance Jio Infocomm Ltd (Jio). The RIL financials for the quarter ended 31 December 2017 (Q3 2018, quarter under review) showed that its digital...

iWorld Telecom
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/inter_1.jpg?itok=e6sfDxjG
Intertrust and Jjadooz announce partnership to deliver virtual reality experiences to indian cinemas

Intertrust Technologies Corporation, the world’s leading provider of digital rights management and secure content delivery solutions, and Jadooz, a provider of Virtual Reality (VR) content, today announced a partnership to bring the first of its kind VR entertainment to cinemas in mid-size cities...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/RISHI.jpg?itok=2Yq_k4lB
Times Bridge invests in MUBI streaming service

MUMBAI: The investment arm of the Times of India group, Times Bridge, and Danish film-maker Nicolas Winding Refn have invested in specialty streaming service MUBI. The terms of the deal remain undisclosed but are understood to be similar to the revised arrangements under which China’s Huanxi Media...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/TiVo.jpg?itok=Y8Typygf
TiVo's new deal with Google includes YouTube TV

MUMBAI: TiVo Corporation, a global player in entertainment technology and audience insights, today announced that Google has expanded its multi-year patent licence agreement to include YouTube TV. The agreement covers Google’s use of TiVo’s patented technologies worldwide and offers a license for...

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories