A day after India's largest e-commerce player announced USD1 billion in new round of funding, Amazon said it will invest an additional $2 billion in its India arm to support rapid growth.
The Amazon India marketplace was launched last year and the company said it has grown to be the largest e-store in India with over 17 million products from a continually growing base of thousands of small and medium-sized businesses
Amazon.com recently introduced a new subscription service, Kindle Unlimited, which allows customers to freely read as much as they want from over 600,000 Kindle books, and listen as much as they want to thousands of Audible audiobooks, all for only USD9.99 a month.
Amazon unveiled on Wednesday its first smartphone - Fire.
The brand new gadget features two new technologies - Dynamic perspective, which it said uses a new sensor system to respond to the way users hold, view, and move the gadget; and Firefly, which recognizes things in the real world like web and email addresses, phone numbers, QR and bar codes, movies, music, and products.
Amazon recently launched a Collectible Coins store, a marketplace that gives customers direct access to more than 10,000 unique US coins. The collection is from 75 industry-leading dealers offering professionally graded and authenticated coins.
The new store is one of the largest online destinations for purchasing graded US coins, with easy-to-use search tools. Customers can explore a vast range of collectible, rare and historical coins from highly regarded dealers, including Stack’s Bowers Galleries, Kagin’s, David Lawrence Rare Coins and Liberty Coin.
According to leading human resources consultancy Randstad India, the hiring in this space is likely to rise by 20-30% in next few years on the back of entry of domestic online start-ups and e-commerce MNCs into Indian marketplace, as also because of setting up of back-office operations for various global businesses.
As foreign and domestic e-retail majors such as Amazon and Flipkart expand their businesses aggressively, hiring activities are expected to grow by over 30 percent in the sector and may help create up to 50,000 jobs in the next 2-3 years.
US e-commerce giant Amazon said on Friday that it has invested USD20 million in Shanghai-based online food vendor Yummy77 as it diversifies its product offerings beyond books and general merchandise.
“Our investment in Yummy77 represents our commitment to China as it shares with us the same dedication for customer service and execution,” Steve Frazier, vice president at Amazon.com, said in a statement.
Amazon, however, didn’t reveal the stake it would acquire in the fresh food website.
Online retailer Amazon has announced a partnership with Twitter that allows users to add products to their shopping carts by tweeting a special hashtag.
They can do so by replying to tweets containing a link to an Amazon product with #amazoncart in the US and #amazonbasket in the UK.Users will still need to go to Amazon to pay and complete the purchase.
The move comes as firms are looking at ways to use social media platforms as tools to attract customers.
China has unique regulatory dynamics that make tapping into this huge market extremely difficult for Western Internet companies. Social behemoths Facebook and Twitter are banned by censors, and Amazon and eBay have a minimal presence with their website access intermittently blocked or throttled, rendering them virtually unusable. Google’s struggles with Chinese censorship demands have resulted in a fractious relationship with the government, severely curtailing the company’s attempts to provide its core search product in China.
The amount Amazon reports through a tax-exempt vehicle in Europe has dropped in the past two years, after the IRS tightened rules.
Amazon's profit and revenue both grew in the latest quarter but its results fell below what Wall Street was expecting and shares of the world's biggest online retailer declined after-hours.