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Amazon has infused over Rs 225 crore into its payments unit in India, Amazon Pay, according to regulatory documents. The fresh infusion is expected to help the company compete more aggressively against rivals like PhonePe, Google Pay and Paytm. The board has approved allotment of 22,50,00000 equity shares.aggregating to Rs 225 crore to the existing shareholder on rights basis ,regulatory documents sourced by business intelligence platform Tofler showed. The shares were allotted to Amazon Corporate Holdings Private Limited and Amazon.com.Incs Limited, the documents filed with the corporate affairs ministry showed. Amazon did not respond to queries. In October last year, Amazon Pay had received over Rs 700 crore, while in January, an infusion of Rs 1,355 crore was made by these entities. Amazon has been pumping in millions of dollars across various operations like marketplace, wholesale and payments business as it looks to strengthen its position in the Ind ....
Read more about Jeff Bezos to step down, hand over Amazon reins to cloud chief Andy Jassy on Business Standard. The announcement ends a long-running question about who would succeed the world s second-richest person at the company s helm ....
URL copied Image Source : AP IMAGE, In this Dec. 5, 2019, file photo, AWS CEO Andy Jassy, discusses a new initiative with the NFL during AWS re:Invent 2019 in Las Vegas Amazon CEO Jeff Bezos has announced he will step down as the chief executive officer of Amazon, later this year. Bezos will transition to the role of executive chairman in the third quarter of 2021. Andy Jassy, CEO of Amazon Web Services would take over as CEO of Amazon. The announcement came as Amazon released its financial results for its fourth quarter that ended December 31, 2020. The company recorded USD 100bn in sales for last three months of 2020. ....
Amazon founder Jeff Bezos to step down as CEO; to give reins to cloud boss Jassy Bezos is ending his role as CEO on a high note: the business he began as an internet bookseller 27 years ago is now one of the world s most valuable companies and posted three consecutive record profits after losses in decades prior; on Tuesday, Amazon reported quarterly sales above $100 billion for the first time Reuters | February 3, 2021 | Updated 09:52 IST Amazon.com Inc founder Jeff Bezos Amazon.com Inc founder Jeff Bezos will step down as CEO and become executive chairman, naming the head of its lucrative cloud computing division as successor in a sign of the company s transformation from web retailer to internet conglomerate. ....