Amazon India is going aggressive to topple Flipkart, gets Rs 2000 crore investment
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According to regulatory filings, this latest investment, made in November, takes the total capital invested in Amazon Seller Services to over Rs 7,000 crore in the last 12 months.
The Jeff Bezos-owned company, which operates the online marketplace Amazon. in, is estimated to have lost over Rs 1,000 crore to woo customers with special offers and discounts in the festive season in October, according to two people aware of the details.
"It is losing about Rs 600 crore every month (non-sale months)," one of the sources, told ET.
He reckons the Seattle-based company will burn up nearly a $1billion this year in India as it races to outpace its Indian rivals.
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Recently, Flipkart cofounder
The aggressive spending has started showing some results. Amazon Seller Services' turnover for the last fiscal rose 116% to Rs 2,217 crore. In the same period Flipkart Internet's sales increased 153% to Rs 1,952 crore. However, these figures don't include the revenue of Flipkart's fashion subsidiary Myntra. Both Amazon Sellers Services and
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