amazon seller services: Amazon pumps in Rs 830 crore in its ‘Seller Services’ in India

Amazon Seller Services, the entity that runs the Amazon marketplace in India, said its US parent infused Rs 830 crore into the company.

Amazon Seller Services said it allotted 830 million equity shares to Amazon Corporate Holdings Ltd and as part of the fund infusion.

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On January 19, Amazon invested Rs 350 crore into Pay (India) Ltd, the entity that runs Amazon Pay. With this, Amazon’s investment in its India entities this year have already crossed Rs 1,000 crore.

The investment into the marketplace comes even as the US group has been focusing a lot more on investing into its cloud services arm, Amazon Web Services, than the core ecommerce business.

In June last year, chief executive Andy Jassy said the firm would invest a further $15 billion into the India market, taking its total investments in India to over $26 billion by 2030.

In December, ET reported that Amazon had begun a restructuring of its top management in India. Noor Patel, who headed category management in India, is moving to the US.

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Patel’s role will be divided between Nishant Sardana and Ranjan Babu, according to an internal communication from vice president and country head Manish Tiwari.The reshuffle could also lead to a new dual leadership structure under Patel and Amit Agarwal, senior vice president for India and emerging markets, people in the know had told ET at the time.

Amazon Seller Services posted a 3.4% increase in revenue to Rs 22,198 crore in the financial year ended March 31, 2023, while its loss widened by about a third to Rs 4,854 crore.

In 2023, Amazon laid off between 500 and 1,000 employees in India as part of global job cuts. It had also shut down smaller businesses like food delivery at the time.