Amazon buys GlowRoad - a social commerce startup
By MYBRANDBOOK
The online retail giant Amazon has taken over homegrown women-focused social commerce startup GlowRoad for an undisclosed amount.
In a statement, the company said that with this acquisition Amazon will be able to meet the commitment of digitizing 10 million local Indian businesses by 2025.
“Amazon continues to explore new ways to digitise India and delight customers, micro- entrepreneurs and sellers and bringing GlowRoad onboard is a key step in this direction,” a company spokesperson told a news source.
The acquisition comes at a time when the social commerce industry in India is booming, with players like Flipkart’s social commerce platform arm Shopsy and Meesho.
Amazon also said that with GlowRoad, it will help accelerate entrepreneurship among millions of creators, homemakers, students, and small sellers from across the country.
“This acquisition will complement GlowRoad’s already loved service with Amazon’s technology, infrastructure, and digital payments capabilities, bringing more efficiency and cost-saving for everyone,” said the company spokesperson.
GlowRoad has recently secured almost $32 million and has investors like Accel, Vertex Ventures and CHD Investments, among others.
The platform has over six million resellers and is present in more than 2,000 cities.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...