Amazon.in is on a expansion spree – Recently they launched Watches & Fashion Jewellery to their growing catalogue. They have now announced addition of one more category – Home & Kitchen. According to their press release, they have added over over 6000 products in home & kitchen category ranging from pots and pans sets, kitchen tools, dinnerware, juicer mixers, kettles, air fryers, irons and vacuum cleaners. Additionally, shoppers can enjoy a 20% saving on select small appliances. Over last 3 months Amazon.in’s marketplace catalogue has grown to over nine million books, over 130,000 products from hundreds of brands, and more than 1.9 million eBooks from a continually growing pool of retailers. With such a aggressive growth in addition of products, Amazon India marketplace is now a serious threat to home-grown ecommerce giants like Flipkart & Myntra.
eBay Acquires Braintree for USD 800 Million
eBay Inc. has agreed to acquire mobile payments company Braintree for USD 800 million according to news report. This acquisition will help strengthen Paypal’s payment solution in mobile space and boost it’s already large online payment market share. According to statement released by eBay, Braintree will continue to operate as a separate entity under the leadership of their existing CEO, William Ready. Braintree has a mobile payment application product called Venmo, which they had acquired in 2012. Venmo allows mobile users to pay each other easily in one click across different mobile apps. Here is a post by PayPal president David Marcus as to why PayPal has agreed to acquire Braintree.
FDI In E-Commerce May Soon Come Through
Manmohan Singh is currently in the US to address United Nations General Assembly. According to ET report, during this visit, Indian PM is scheduled to meet up with US president Barack Obama, where he is expected to use FDI in e-commerce as one of the bargaining chips as part of attracting more foreign investment into India. The Department of Industrial Policy and Promotion (DIPP) has also commissioned a study to understand the structure of the industry before moving a firm proposal.