Jeff Bezos’s Amazon is always in the top news and discussions about its business moves to extend, especially the way it is entering into the Indian marketplace to acquire more and more startups.
It has already pumped billions of dollars into Indian retail, and is now turning towards the country’s budding ventures as it raises the retail price against Asia’s richest man “Mukesh Ambani”.
One of the recent acquisitions of the tech giant “Amazon ” acquired Perpule, a retail tech firm for $14.7 million for it.
Perpule claims to develop India’s first self-checkout solution and then scaled into an end-to-end billing platform called UltraPOS (stands for POINT OF SALE).
Amazon VS Ambani- Acquisitions and constant investments
The recent acquisition comes as Amazon prepares itself to move further deep into India’s retail industry, and it is already up with a fight with Amabani’s JioMart. It had earlier picked up a 49% share or stake in Kishore BIyani’s Future Group, Future Coupons for Rs 1,431 crore. But the moment Future retail, another Future Group firm got acquired by Reliance, it resulted in a long legal fight with Amazon.
Amazon is actively looking for opportunities and particularly in India for more acquisitions and investments. Somewhat like its rival reliance Industries, which in 2020 has bolted up startups like Urban Ladder, Netmeds and so many more.
Moreover, earlier in March, Amazon had made its first investment in an Indian venture, a consumer brand- MyGlamm which raised funds of Rs 175 crore from Amazon, Wipro Consumer, and Ascent Capital. Still, the sole investment of Amazon remains unrevealed.
Amazon also made bi investments in the insurtech firms Bankbazaar, HouseJoy-home services venture, and more. To achieve its motive and goals in the long run, it has also launched an early-stage booster program Amazon Global Selling Propel (AGSP). It is a spot where startups can pitch their business ideas to VC firms namely Sequoia Capital India and Fireside Ventures. Reward will also be given to the winner of $50,000 in an equity-free grant from Amazon.
Lastly, the way Amazon planning its moves is quite impressive, the aggressiveness and spontaneous behavior in the acquisitions could be a state of worry for Reliance.