Amazon’s $5 billion bet on India is working.
At the company’s first quarter earnings call, CEO Jeff Bezos said the India arm of the ecommerce giant was already the fastest growing marketplace in the country.
"Our India team is moving fast and delivering for customers and sellers," he said, highlighting the surge in Prime’s catalogue, which he claims has grown by 75 percent in the last nine months since launch in the country.
But for Amazon, which invested an additional of $3 billion in India last year, this is just the beginning. "It’s still day 1 for e-commerce in India," Bezos said. Read more...
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