Amazon To Acquire Jabong For $1.2 billion. Talks In Progress
It’s acquisition time for India’s e-commerce sector. Amazon, world’s biggest online retailer finished first level talks with India’s fashion and lifestyle portal Jabong.
If the talks are successful, Amazon will acquire Jabong for whopping $1.2 billion. With this acquisition, Amazon is trying to give Flipkart a tough competition ahead.
This will be the biggest ever acquisition talk ever took place in Indian e-commerce history. If the deal is closed, it will be marked in history. However, there are some issues with the acquisition.
As per Indian govt. rules a foreign company like amazon cannot invest in an e-commerce company like Jabong. Amazon officials have answer to this.
They said that if Flipkart can buy Myntra, Amazon can also clinch this deal with some careful structuring. Let’s see one more historical buyout to come in history of India inc.