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Amazon in Talks for 51% Stake in Ecom Express

Amazon is reportedly looking to build a logistics division in-house, through acquiring 51% of a stake in Ecom Express, the Indian end-to-end logistics solutions provider, a Seeking Alpha report said.

The report cited unnamed sources saying the deal could go for between $500 million and $600 million.

The report said that if the deal goes through, Amazon will get a supply-chain firm it can work with in-house, and that will help it add more speed for its delivery.

The deal will also help provide an out for Warburg Pincus, which currently has 52.2% stake in Ecom Express.

The report noted that Ecom Express is already a delivery partner for Amazon India, which doesn’t currently have a logistics division.

The companies didn’t reply for a request for comment from PYMNTS on Monday (Aug. 8) evening.

In other news related to Amazon, AI company Veritone has expanded a partnership with the eCommerce giant to help out with supporting media and entertainment customers, PYMNTS wrote.

Read more: AI Firm Veritone Extends Amazon, AWS Partnerships

Last year Veritone joined the Amazon Web Services (AWS) for Media & Entertainment initiative, which the company said showed its commitment to modernizing content production and distribution.

Veritone said its aiWARE enterprise platform allows companies to deploy AI-powered workflows while also working alongside various current data and processes.

The help from AWS will allow the company to deliver even more up-to-date content production, management and monetization tools. That will allow for media and entertainment customers to look more at challenges of processing digital content faster, and with the help of metaverse and web3 tools.

Furthermore, Amazon has also recently decided to buy iRobot, which makes the Roomba robot vacuum, PYMNTS wrote.

Read more: Amazon to Acquire iRobot, Maker of Roomba Robot Vacuum

The deal went forward for $1.7 billion, and Amazon Devices Senior Vice President Dave Limp said the idea was to help save time on things like chores.

“Over many years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and inventive — from cleaning when and where customers want while avoiding common obstacles in the home, to automatically emptying the collection bin,” Limp said.

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NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS WITH STRONG DEMAND FOR SUPER APPS

About: The findings in PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed the responses from 9,904 consumers in Australia, Germany, the U.K. and the U.S. and showed strong demand for a single multifunctional super apps rather than using dozens of individuals ones.



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