Amazon opens its largest campus and invests into Future Retail.
Biggest Amazon campus in the world
Located in the city of Hyderabad and able to house 15,000 employees, Amazon recently opened its latest campus and reaffirmed its commitment to the Indian ecommerce market. The 9.5 acres site will house employees from all divisions, including Amazon Web Services.
The move to locate its latest campus in India underscores the importance of one of the fastest growing ecommerce market. Amazon India faces tough competition from the other players, like Walmart-owned Flipkart and the Alibaba backed Big Basket.
Acquired a minority stake in Future Retail
In addition, Amazon has also recently acquired a 49% stake in Future Coupons, an entity with a 7.3% stake in Future Retail. Future Coupons is wholly owned by Future Retail and develops payment products, such as corporate gift cards and reward cards, for its corporate clients. By indirectly investing in Future Retail, this move allows Amazon to comply with Indian government regulations.
Hence, this translates to Amazon owning an approximate 3.6% of Future Retail. It is estimated that this deal cost about US$104m for Amazon.
Find out more information about Amazon here.