Amazon Announces Additional US $2 Billion Investment in India
Bangalore, 30th July, 2014: Since its launch just over a year ago, Amazon’s marketplace (www.amazon.in) has grown to be India’s largest store with over 17 million products from a continually growing base of thousands of small and medium-sized businesses, serving millions of customers across India and delighting customers with its guaranteed next-day delivery service. Amazon today announced that it will invest an additional US $2 billion to support its rapid growth and continue to enhance the customer and seller experience in India.
"After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations," said Jeff Bezos, founder and CEO of Amazon.com. "We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales. A big ‘thank you’ to our customers in India – we’ve never seen anything like this."
Customers on www.amazon.in and Amazon’s mobile shopping application can shop anywhere with ease and confidence from over 17 million products across a broad range of categories including Books; eBooks and Tablets; Movies and TV shows; Kindle Devices, Computers and Accessories; Mobiles and Accessories; Consumer Electronics; Toys and Games; Baby Products; Health and Personal Care products; Watches; Fashion Jewelry; Home and Kitchen products; Beauty Products; Video Games; Music; Luggage and Bags; Handbags and Clutches; Sports, Fitness and Outdoor equipment; Shoes; Men’s, Women’s and Kid’s wear; and more.
A large base of small and medium-sized businesses are already benefitting from Amazon’s investment in its Fulfillment by Amazon offering. Customers across several cities in India are increasingly enjoying Amazon’s guaranteed next-day delivery on more than 300,000 products fulfilled by Amazon.
All customers benefit from a safe and secure ordering experience, convenient electronic payments, Cash on Delivery, no-risk hassle-free returns policy, Amazon’s 24x7 customer service support, and a globally recognized and comprehensive 100% purchase protection provided by Amazon’s A-to-Z Guarantee.
The Amazon.in marketplace is operated by Amazon Seller Services Private Ltd, an affiliate of Amazon.com, Inc. (NASDAQ: AMZN). Amazon.in seeks to build the most customer-centric online destination for customers to find and discover virtually anything they want to buy online by giving them more of what they want – vast selection, low prices, fast and reliable delivery, and a trusted and convenient experience; and provide sellers with a world-class e-commerce platform.
Products on amazon.in range from Books and Movies & TV Shows to Kindle family of E-Readers, Tablets and eBooks; Music; Computers & Accessories; Mobiles & Tablets; Cameras & Photography; Portable Media Players; Toys & Games; Video Games; Baby Products; Personal Care Appliances; Health Care Devices; Watches; Fashion Jewellery; Luggage & Bags; Home & Kitchen; Beauty; Sports and Health & Personal Care, Shoes, Apparel and Sunglasses. It is still “Day 1” and Amazon.in is relentlessly focused on expanding selection and raising the bar for customer experience in India.
Amazon opened on the World Wide Web in July 1995. The company is guided by three principles: customer obsession rather than competitor focus, passion for invention, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire, and Fire TV are some of the services pioneered by Amazon.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment and data center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.