Amazon, the leading online retailing (e-tailing) firm which allows consumers to buy goods or services over the internet using a web browser directly from a seller. It is an American based e -commerce company with its headquarters at Seattle, Washington. It was founded in 1994 by Jeff Bezos who is the present chairman and CEO of the company.
Amazon.com started its operations as an online bookstore and later diversified its product lines to other Medias such as DVDs, music CDs, videotapes. It also includes apparels, baby products, consumer electronics, cosmetics, food, groceries, health and personal care items, various industrial and scientific supplies, kitchen items, jewellery, watches, garden items, musical instruments, sporting goods tools, automotive items and toys and games.
The company has separate retail websites for each country to enhance their e- commerce. Besides this it also offers international shipping of certain products to different countries to satisfy the customer demands.
As a part of increasing their investments in India, the US based ecommerce company Amazon Inc has acquired an Indian Startup BankBazaar by purchasing a minority stake in its marketplace. Bank Bazaar is an Indian internet based financial service company established in 2008. The founders of this online financial platform are Adhil Shetty, Arjun Shetty, Rati Rajkumar.
It is headquartered in Chennai, Tamil Nadu. This online platform aids people in selecting the most affordable loans and credit cards by searching and comparing interest rates of credits and loans offered by different banks over internet using without any paper work and processing it offline.
This online platform provides the rate quotes on personal loans, home loans, home loan transfers, and car loans and also in fixed deposits, health Insurance and life insurance. It has tied up with many commercial banks such as ICICI Bank, Axis Bank and HDFC Bank to provide instant interest rate quotes and approvals on loans. This startup has raised most of its funds through venture capitalist firms.
It has raised $6 million as its first funding from Walden International in 2011.It has also has raised $13 Million from Walden International and Sequoia Capital as Series B Financing .Recently they have also raised fund as Series-C funding round led by Amazon along with its existing investors Sequoia Capital and Walden International.
