Crypto Update: Amazon’s Appario Sold to Clicktech
Recently, India’s antitrust watchdog approved the sale of Appario Retail, the largest seller on Amazon India, to Clicktech, another significant seller on the platform. The Competition Commission of India (CCI) gave the green light for the deal involving various entities, including Amazon Asia-Pacific Holdings, Frontizo Business Services, Appario Retail, Haverl LLC, and Clicktech Retail.
The Deal Approval by the Antitrust Watchdog 📈
- India’s antitrust watchdog recently approved the sale of Appario Retail to Clicktech, a major seller on Amazon India.
- The approval by the Competition Commission of India (CCI) included multiple entities involved in the transaction.
Background on Appario and Amazon 📦
- Appario, the last major seller in which Amazon had a stake, was recently sold to Clicktech.
- Clicktech, backed by the Vinod Poddar group, operates in industries like steel, coal processing, real estate, and plastics.
- In October of this year, Amazon announced its decision to delist Appario from its platform, facing pushback from smaller sellers and regulatory authorities.
Amazon’s Strategic Business Moves 🔄
- Amazon is not only divesting stakes in sellers like Appario but also acquiring Appario’s parent company, Frontizo Business Services.
- Post-transaction, Frontizo will become a wholly owned subsidiary of Amazon, while Appario will fall under Clicktech’s ownership.
The Impact of Previous Divestments on Amazon’s Strategy 🔍
- This move marks the second time Amazon is letting go of its stake in a seller entity to comply with local regulations in the ecommerce sector.
- In 2022, Amazon had to delist and shut down Cloudtail, another significant seller, to adhere to the evolving regulatory landscape.
- Cloudtail’s inventory was subsequently acquired by entities like Clicktech and Cocoblu Retail, with former Cloudtail employees transitioning to these new ventures as major sellers on Amazon.
Hot Take: Stay Updated on Crypto Developments 🚀
As the crypto market continues to evolve, staying informed about key developments, such as Amazon’s recent divestment and acquisition strategies, can offer valuable insights for your investment decisions. Be sure to monitor how such moves impact the broader cryptocurrency landscape and consider adjusting your portfolio accordingly to navigate these dynamic market conditions effectively.
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