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Amazon to Acquire Rocket Internet’s Fashion e-Tailer Jabong in a 1.2B Deal-Reports

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amazonAccording to reports Amazon.com is set to acquire Rocket Internet’s fashion e-tailer Jabong, based in India for $1.2 billion deal.

The deal will be biggest acquisition in the Indian e-commerce history according to India’s VCCircle.

The reports indicate that Amazon will not shut down Jabong but run it as an independent entity. Jabong is backed by both Rocket Internet, Swedish investment firm Kinnevik and UK’s CDC.

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Amazon India’s competitor Flipkart acquired Myntra, Jabong will make Amazon in the country compete on a favourable stand and even drive sales this festive season like never before. Flipkart, founded by ex-Amazon employees has given Amazon a run for its money, this is more of a counter move for Amazon to up its fashion line.

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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