You must have been buying a lot of products from Amazon. Who is not lured by so many exciting offers presented by Amazon? All of us are growing fanatic for online shopping because of its cool and exciting benefits. An online platform which is becoming successful day by day, towards which we are growing more and more addicted and which we all are using so often, we should have a craving to know about its company profile. So let’s learn some facts about Amazon India and its parent company Amazon.
Amazon India launched its operations in June 2013. The company soon launched its website Amazon.in which is offering customers a wide variety of choices in apparel, groceries, household items, books, movies, television shows and almost everything that a person requires. On the very first day of its operations, the company received more than 10,000 orders. Amazon India is a subsidiary of US-based e-commerce giant Amazon Inc. The parent company Amazon was founded by Jeff Bezos in 1994. The company wanted to explore other countries for sales increment and the growth of the company. So it did not limit its operations to the United States, and soon launched its operations in other countries. Amazon looked upon China as a lucrative option because of its huge market, well-developed infrastructure, and internet connectivity. Hence, earlier Amazon expanded its operations to China. However, it did not prove to be that much fruitful that it expected because of the stiff competition by local e-commerce companies such as Alibaba. So it further expanded its operations and looked for some viable options. The Amazon analyzed India as a country having great potentials and it was sure that India will turn out to be fruitful for its growth. Hence, Amazon came to India and launched its operations here in 2013.
In a very short span of time, Amazon India has acquired an eminent position in the Indian e-commerce space and has become a major shopping giant for millions of customers. Amazon India is currently offering millions of products on its platform and has millions of registered users. It has an endless list of products under broad categories and sub-categories such as mobile phones, computers, men’s and women’s fashion, books, sports & fitness, electrical & electronic items, movies, music, cars, motorbike, baby products, toys, grocery items, and so on. Amazon India did not limit its expansion and operations here, it has started operating a Global store which allows the customers to buy directly from sellers in the United States. Recently the company launched Amazon prime in India which provides various services to its customers like streaming video, music, e-books etc. It currently delivers to most of the serviceable PIN codes in India. It has connected millions of sellers and buyers in a network, making the shopping a much easier task for people. It caters to more than 20,000 Indian sellers and has 41 fulfillment centers across 13 states in India.
In India, the popular advertisement of Amazon claiming it to be “APNI DUKAAN” is turning out to be successful in grabbing millions of customers. It has become a reliable and convenient source of buying and selling for people.
Background History of Amazon:
The parent company, Amazon was founded by an American technology entrepreneur Jeff Bezos in 1994 in the United States. Thereafter, it started its operations in various countries in the world such as China, India, Japan, France, Singapore, Italy, Germany, UK, Spain, Netherlands, Canada, Mexico, Brazil and Australia. Amazon.in was launched in India in 2013. Amit Agarwal leads and handles Amazon India; he is currently the Managing Director of the company, Amazon India.
Funding in Amazon India:
Amazon founder Jeff Bezos started the company by making a total investment of $5 billion in Amazon India. It may take several more years to generate profits for Amazon India, but the founder, Jeff Bezos is quite bullish on India. He is ready to make more investments, as may be needed for the operations of Amazon India.
Acquisitions made by Amazon:
The Parent company Amazon has acquired scores of companies across the globe, but in India, it has adopted a different strategy for growth. In India, Amazon has acquired a payments company named Emvantage Payments Pvt. Ltd. in 2016. Emvantage is an Indian company that offered services similar to PayPal and has a platform that enabled online merchants to accept credit and debit cards. Recently, Amazon India has been planning and trying to acquire the BigBasket, which is India’s biggest online food and grocery store, offering more than 18,000 products.
Competition from home-grown e-commerce companies:
Amazon India has been facing cut-throat competition from various local e-commerce companies such as Flipkart and Snapdeal. Still, the primary competition for the Indian e-commerce market is currently between Amazon India and Flipkart only. The Indian e-commerce market is expected to touch $50 billion in sales by 2020, so both Amazon India and Flipkart Company profile are aggressively trying to grab a larger market share.
About the Founder of Amazon (Jeff Bezos):
The parent company Amazon, Inc. was founded by Jeff Bezos on July 05, 1994. Jeff Bezos is an entrepreneur, investor, and philanthropist. He is the founder, chairman and Chief Executive Officer of Amazon. He acquired his education (Bachelor of Science degrees in electrical engineering and computer science) from Princetown University. Prior to launching Amazon, he had worked at Wall Street, as a computer science profession. He is majorly known for AMAZON-The world’s largest online retailer and BLUE ORIGIN.