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'Amazon top site in India, will keep investing in tech and infra'
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SME Times News Bureau | 29 Apr, 2017
Banking on the e-commerce proliferation in India, Amazon founder and CEO
Jeff Bezos assured people that the company will keep investing in
technology and infrastructure in the country.
"We're grateful
that customers are responding -- Amazon.in is the most visited and the
fastest growing marketplace in India. It's still Day 1 for e-commerce in
India, and I assure you that we'll keep investing in technology and
infrastructure while working hard to invent on behalf of our customers
and small and medium businesses in India," Bezos said in a statement
while releasing the First Quarter results of the global company.
The
Amazon building out of which Bezos operates is named Day 1. In one of
his earlier communiques, Bezos also explained what it means to him.
He
had said that staying in Day 1 means one needs to experiment patiently,
embrace failures, plant seeds, protect saplings, and double down when
you see customer delight. For him, Day 2 means stasis and failure.
"Our
India team is moving fast and delivering for customers and sellers. The
team has increased Prime selection by 75 per cent since launching the
program nine months ago, increased fulfillment capacity for sellers by
26 per cent already this year, announced 18 Indian Original TV series,
and just last week introduced a Fire TV Stick optimised for Indian
customers with integrated voice search in English and Hindi," he said.
Citing
analytics firms comScore and SimilarWeb, Bezos said: "Amazon.in is the
fastest growing marketplace in India, and the most visited site on both
desktop and mobile. Additionally, the Amazon.in mobile shopping app is
the most downloaded shopping app in India, according to app analytics
firm App Annie."
Amazon reported first-quarter sales and earnings
for 2017 better than analyst estimates, as its e-commerce and
cloud-computing businesses continued to expand market share. The stock
rose 4.7 per cent after announcement on Thursday.
Sales jumped 23
percent to $35.7 billion and earnings per share climbed to $1.48 from
$1.07. But at least two firms lowered its rating to perform from
outperform. Downgrades for a company like Amazon are rare on wall
street, but some analysts said the company needs to show better
profitability.
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