Flipkart’s biggest investor has reduced its stake in Amazon by 67%
May 17, 2016, 15:13 IST
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Tiger Global Management, the largest investor in Indian e-commerce major Flipkart, has reduced its stake in its US rival Amazon by nearly 67% in the quarter that ended in March 2016.Not only this, the stake in Chinese etailer JD.com has also been reduced by nearly 25%, and the minority stake in Alibaba, which backs another Indian e-commerce firm Paytm, has been dissolved.
Amazon, which was Tiger Global's second-largest public holding, made it lose 22% in the first three months of 2016, given that its shares dipped by 12% during the period.
However, after that, Amazon shares have risen significantly because of strong financial results and record profit in the quarter that ended in March, which even resulted in its stock touching its all time high price of $720.6 on May 12.
India’s top three e-commerce firms, Amazon India, Flipkart and Snapdeal, are all battling for market leadership these days, having spent billions of dollars on marketing, strengthening their supply chains and acquiring customers with predatory discounts.Flipkart’s biggest investor has reduced its stake in Amazon by 67%
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Tiger Global Management, the largest investor in Indian e-commerce major Flipkart, has reduced its stake in its US rival Amazon by nearly 67% in the quarter that ended in March 2016.
Not only this, the stake in Chinese etailer JD.com has also been reduced by nearly 25%, and the minority stake in Alibaba, which backs another Indian e-commerce firm Paytm, has been dissolved.
Amazon, which was Tiger Global's second-largest public holding, made it lose 22% in the first three months of 2016, given that its shares dipped by 12% during the period.
However, after that, Amazon shares have risen significantly because of strong financial results and record profit in the quarter that ended in March, which even resulted in its stock touching its all time high price of $720.6 on May 12.
India’s top three e-commerce firms, Amazon India, Flipkart and Snapdeal, are all battling for market leadership these days, having spent billions of dollars on marketing, strengthening their supply chains and acquiring customers with predatory discounts.
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