We obsess about customer, not competition, says Jeff Bezos


MUMBAI: With the battle brewing in the e-commerce segment, the sector is making headlines every day; the latest being of Amazom chairman Jeff Bezos’s four-day visit to India.

To make his business intentions in India clear, Bezos, who is on his second visit to India, carried out a road show on a supply truck at the premises of a shopping mall in Bangalore on 28 August handing a $2 billion cheque to Amazon India VP and country manager Amit Agarwal. This is by far the biggest expansion money from overseas that has come from a multi-national.

According to the media reports, while handing the cheque, he said, “Amazon has unveiled a $2 billion investment in the country ... we'll work to better what Indians love most in shopping — vast selection, competitive pricing and fast delivery.”

Amazon had announced a $2billion investment in India barely a day after homegrown Flipkart raised $1 bn from private investors.

As per the reports, Bezos added that the cash pile will be spent on building performance centers, upgrading logistics services, developing the mobile platform and new tools and techniques to help the small and medium businesses.

Amazon’s interest in the small and medium enterprises has been echoed by several homegrown e-tailers. While Snapdeal recently announced that it was inching close to the 100,000-seller mark, Flipkart has been tying up with industry bodies like FISME and NCDPD to penetrate the SME clusters.

In an initiative called Amazon OneonOne, Bezos also had luncheon with about 100 customers on 28 September in order to find their views and opinions about the site and if there were any recommendations.

According to various media reports, Bezos also indicated that policy hurdles in India is not impacting the company's investment plans for the country. India is yet to allow FDI in online retail. Another issue is lack of clarity in tax laws that are impacting the company's functioning in various states.

Amazon's main rivals in India are Bangalore-based Flipkart and Snapdeal, the Delhi-based company that counts eBay, Azim Premji and Ratan Tata as investors. Together, they have sold goods worth more than $4 billion, with Flipkart alone estimated to have crossed $2 billion. Alibaba, too, is keen on India, and the Chinese company has the money, experience and ambition to succeed here.

Talking about the competition, Bezos also reportedly said, “We have a long history of obsessing over customers rather than competition.”

With revenue of nearly $75 billion in 2013 the giant online retail site has a market value of $150 billion. It also runs a fast growing cloud computing business called Amazon Web Services and makes Kindle tablets and Fire smartphones. Bezos, in his personal capacity, bought The Washington Post newspaper last year. In India, Amazon started its technology operation first and employs a total of about 12,000 staff at offices in Bangalore, Hyderabad, Chennai and Delhi.

Latest Reads

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
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
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
Viu set to launch musical drama spotlight 2 on 26th January

Viu, the premium video-on-demand platform by Vuclip, a PCCW media company announced the launch of Spotlight 2 making this a franchise of the successful Viu Originals series Spotlight. Presented in association with known writer and director Vikram Bhatt, the theme of the franchise is a running...

iWorld Over The Top Services
Alibaba's India OTT may launch in three months

According to a report by The Ken, Chinese ecommerce giant Alibaba has announced plans to launch an over-the-top (OTT) video service in India over the next three months. The service will be introduced in partnership with its Indian investee company Paytm and mobile Internet subsidiary UCWeb, the...

iWorld Over The Top Services
Amazon India to launch 10 originals in 2018

MUMBAI: With the advent of digital and data cost coming down, there is a cut-throat competition among digital players to grab as many eyeballs as they can. Amazon Prime Video is set to launch 10 original shows in 2018 for India.

iWorld Over The Top Services
Aastha TV to launch OTT, VOD service

MUMBAI: Now mobile users who are fans of spiritual gurus like Morari Bapu, Shivani, Acharya Balkrishna and Swami Ramdev will be able to watch their programmes and discourses while on the go.  The Swami Ramdev-Acharya Balkrishna-owned Vedic Broadcasting today  launched an app which will stream the...

iWorld Over The Top Services
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

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories