Business

Amazon Seller Services gets Rs 1,460 crore from parent

Chennai: Ahead of Diwali, e-commerce giant Amazon infused Rs 1,460 crore into one of its India units, Amazon Seller Services.

Amazon Corporate Holdings Pvt Ltd, Sing-apore and Amazon.com Inc Ltd, Mauritius have made the Rs 1,460 crore investment in the unit, documents filed with the corporate affairs ministry and shared by market intelligence firm Tofler showed.

Amazon Seller Services operates the company's marketplace that helps sellers to sell their products online in India and internationally.

The fresh funds were meant to support Ama-zon compete against rivals like Flipkart. Amazon also has been aggressively investing in expanding infrastructure and adding solutions to enhance consumer and seller experience.

The Great Indian Festival of Amazon had helped over 8.5 lakh sellers place their products online. Last month, Amazon had also infused Rs 1,000 crore into Amazon Pay.

Source:

www.deccanchronicle.com

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