The beginning of Amazon
6 Jul 1994
- Amazon Inc is an American e-commerce company that sells a multitude of products - software, games, apparel, jewellery, electronics etc. It is also the world's largest cloud computing service provider.
- Jeff Bezos, the current Chairman and President founded the venture in 1994 and named it after the Amazon River.
- In addition, certain low-end products like USB-cables are also produced under AmazonBasics, the in-house brand.
Amazon steps into the Indian ecosphere
5 Jun 2013
- The American giant, launched its Indian market place "amazon.in" and clocked 10,000 orders the first day.
- Initially, it did not own its products but merely facilitated as a platform for retailers as FDI was barred in e-commerce. It operated on a market-place model.
- Amazon's push into India came as a result of the company's interaction with the then Commerce and Industry minister, Anand Sharma.
Amazon vs. Flipkart: The investment battle
31 Jul 2014
- Amazon proposed a $2 billion investment post Flipkart's $1 billion fundraising announcement. This was the first time Amazon made the figures public.
- In addition, the investment was the largest by an e-commerce entity in India.
- Despite a loss of $126 million across the globe the previous months, Amazon eyed growth in India. It also planned for facilitation-centres in Delhi, Chennai, Jaipur and Ahmedabad.
Amazon intensifies Indian market operations
21 Jul 2015
- Amazon gears-up to invest $5 billion for wider expansion in Indian markets. This deal would make India its biggest market outside the US.
- In addition, Amazon Prime a subscription based product is also slated for launch. This would enable users to stream videos, music-tracks and store them on Amazon cloud.
- A large number of new ware-houses and date-centers are also on the cards.
Amazon becomes India's 2nd largest online marketplace after Flipkart
28 Apr 2016
- Amazon India dislodged Snapdeal to become India's second-largest online marketplace by shipments.
- While Flipkart and Snapdeal's share of shipments fell from March 2015- March 2016 (from 43% to 37% and 19% to 14-15% respectively), Amazon showed a phenomenal surge (from 14% to 21-24%).
- Experts believe that if the trend continues, the e-tail market may become "a 2-horse race between Flipkart and Amazon".
Amazon to increase Indian investment to $5 billion
8 Jun 2016
- Amazon's founder and CEO Jeff Bezos said that Amazon will invest an additional $3 billion in its India operations to take its total investment to over $5 billion.
- He said "We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy."
- He made the statements in Washington during an event attended by PM Modi.
Amazon Prime launched in India, Amazon Video soon
26 Jul 2016
- Amazon has launched its prime subscription programme in India at ₹999 per year.
- Currently, it comes with unlimited one-day and two-day delivery with no minimum order size and early access to some deals on Amazon; however, other benefits that international users have, including Video and Music are yet to be launched in India.
- Amazon Prime costs $99 a year in the US.
Prime effect: Amazon bids for IPL broadcast rights
24 Sep 2016
- Sources revealed that Amazon has purchased the documents to bid for digital broadcast rights for the IPL 2017.
- Analysts speculate that the move is an indication that Amazon is betting big on its Prime services including video services.
- Amazon is likely to face stiff competition from Sony Pictures and Star India during the bidding process.
Amazon to buy Westland publishing business
30 Oct 2016
- Amazon has decided to acquire the remaining 74% stake in Westland, Trent Ltd.'s publishing arm, indicating a possible expansion of their presence in Indian books market.
- In a statement the company said, "Our acquisition of Westland continues our commitment to India," without divulging details of the deal.
- Amazon had earlier acquired 26% of Westland in February for ₹9.5 crore.
AmazonNow's grocery service now available in Delhi, Mumbai
21 Dec 2016
- E-commerce giant Amazon.in has now expanded its grocery delivery service to Delhi and Mumbai.
- 'AmazonNow' allows customers to shop from 5,000 every day essentials inclusive of fresh fruits, vegetable as well as frozen food items.
- Products will be delivered within 2 hours or at a pre-scheduled time.
- Baskets above ₹350 will be charged ₹29 for scheduled delivery and ₹49 for express delivery.
Amazon India's losses multiply in FY'16
26 Dec 2016
- According to regulatory filings, Amazon India's losses soared to ₹3,572 crore from ₹1,724 crore in 2015; however, the company's revenues doubled from ₹1,022 crore to ₹2,275 crore in the same period.
- The fluctuation in finances is due to heavy spending by Amazon this year to topple Flipkart in India.
- Amazon spent heavily on marketing, discounts and investments in technology and infrastructure.
Amazon pips Snapdeal to become India's 2nd largest online marketplace after Flipkart - Times of India
2-hour grocery delivery service of AmazonNow now available in Delhi, Mumbai | Latest News & Updates at Daily News & Analysis
Bezos' boundless India love: Amazon to invest $5 bn more to launch Prime services, expand - Firstpost