Emvantage employees will join the India unit of Amazon that will use technology of the company’s e-commerce website, Amazon said in a statement.
Amazon has been expanding rapidly in fast growing e-commerce segment in India is likely to grow to $ 220 billion (about Rs. 15,04,800 crore) worth of sales in 2025.
Tata Group retail firm Trent Ltd said last week in online retail giant Amazon has collected 26 percent stake in its publishing arm for Rs Westland. 9.5 million rupees.
Under the definitive agreements signed by Trent, Amazon.com NV Investment Holding LLC and Westland, Amazon will be entitled to appoint one director to the Board of Westland and also have the option to acquire the remaining 74 percent of shares later in future.
The fund raising, led by the plan and the funds advised by Pilar de Hierro Canada Pension Plan Ontario Teachers’, comes at a time, when there are growing concerns about the additional funding between the new Indian companies.
