Amazon India launched operations in June 2013. The company launched its website Amazon.in, offering customers a wide variety of choices in books, movies and television shows. On the first day of its operations, Amazon India had received more than 10,000 orders. Amazon India is a fully-owned subsidiary of US based e-commerce giant Amazon, Inc. The parent company Amazon was founded in 1994 by Jeff Bezos. With sales and growth nearing saturation limits in the United States, Amazon was looking to explore other countries for its future growth. China seemed lucrative with its huge market, well-developed infrastructure and internet connectivity, which prompted Amazon to launch operations in China. However, due to stiff competition by local e-commerce companies such as Alibaba, Amazon started looking for other viable options. The company found great potential in India and launched operations in 2013.
Amazon India
In a very short period of time, Amazon India has become a force to reckon with in the Indian e-commerce space. Amazon India currently offers millions of products on its platform and has millions of registered users. Amazon India currently offers products across various categories such as mobile phones, computers and accessories, men’s and women’s fashion, books, sports & fitness, electrical & electronic items, movies, music, cars, motorbike, baby products, toys, grocery items, etc. Amazon India also operates a Global Store, where customers can buy directly from sellers in the United States. Recently, Amazon Prime was launched in India, which provides users access to various services such as streaming video, music, e-books, the latest offers, etc. Amazon India currently delivers to most of the serviceable PIN codes in India. It has more than 20,000 Indian sellers and 41 fulfillment centers across 13 states.
History:
The website Amazon.in was launched in June 2013. The parent company, Amazon was launched in 1994 by Jeff Bezos in the United States. Over the years, Amazon has started operations at various locations across the globe such as India, China, Japan, Singapore, France, Germany, Italy, Netherlands, Spain, United Kingdom, Canada, Mexico, Australia and Brazil. Amazon India is led by Amit Agarwal, who is currently the company’s Managing Director.
Funding:
Amazon founder Jeff Bezos has made a total investment of $5 billion in Amazon India. Amazon India may take several more years to generate profits, but Jeff Bezos is quite bullish on India and committed to more investments, as may be needed.
Acquisitions:
Parent company Amazon has acquired scores of companies across the globe, but in India, it has a different strategy for growth. In India, Amazon acquired payments company Emvantage Payments Pvt. Ltd. in 2016. Emvantage was an Indian company that offered services similar to PayPal. It has a platform that enabled online merchants to accept credit and debit cards. In recent times, Amazon India has been in talks with BigBasket to acquire the company. BigBasket is India’s biggest online food and grocery store, offering more than 18,000 products.
Competition:
Amazon India has been facing stiff competition from home-grown e-commerce companies such as Flipkart and Snapdeal. The primary competition for the Indian e-commerce market is currently between Amazon India and Flipkart. The Indian e-commerce market is expected to touch $50 billion in sales by 2020, so both companies are aggressively trying to grab a larger market share.
About the Founder:
Parent company Amazon, Inc. was founded by Jeff Bezos in 1994. Jeff Bezos plays varied roles, including that of an entrepreneur, investor, and philanthropist. He studied at Princetown University, where he completed his Bachelor of Science degrees in electrical engineering and computer science. Bezos had earlier worked at Wall Street, as a computer science profession, prior to launching Amazon.
source: www.newspatrolling.com/amazon-india-company-profile/
source : https://www.amazon.in
