Amazon India’s unit gets $308 million in fresh funds from parent | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN – News of Bahrain- DT News

SourceThe Daily Tribune - News of Bahrain
SectorFinancial Markets
CountryBahrain

Bengaluru Amazon.com Inc has invested 23.10 billion rupees ($308.02 million) in Amazon Seller Services, an Indian unit, strengthening the business at a time when more people shop online in a bid to avoid crowded public places. Amazon Singapore made a significant portion of financing, data from business intelligence firm Tofler showed, according to Reuters. The company’s Indian arm in May said it would hire 50,000 temporary workers to meet a surge in online shopping in the country. The company, which competes with Walmart Inc’s Flipkart in India, has also been expanding its seller network in the country. Indian laws allow foreign e-commerce companies to operate as “market places,” connecting buyers with sellers online. As India went into lockdown, Amazon encouraged small shops to join as sellers on its platform in a bid to...read more...