Amazon acquires Perpule to aid digital transition of offline retailers
Category: #retail  By Pankaj Singh  Date: 2021-04-01
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Amazon acquires Perpule to aid digital transition of offline retailers

E-commerce giant Amazon has recently acquired an Indian startup Perpule, which is focused on helping offline stores move their operations online. This acquisition is the company’s latest attempt to expand in the nation with the second largest population in the world, where nearly 95% of retail sales are driven by brick and mortar establishments.

According to a regulatory filing, the acquisition of the four-year-old startup involved a payment of nearly $14.7 million by Amazon Technologies, in an all-cash deal. Also, it is further expected to invest an additional sum of around $5 million, to compensate the employees of Perpule.

For those unversed, Perpule, founded in late 2016, delivers point of sale machines (mobile payments devices) to offline retail businesses, to facilitate acceptance of digital payments, as well as to establish their presence on various PhonePe, Google Pay, and Paytm-run mini app stores in India. The company’s first product was aimed at decreasing customer wait times at retail superchains like Big Bazaar and Shoppers Stop, to name a few. It has since expanded, introducing products such as StoreSE, designed to enable group ordering support for businesses.

An Amazon spokesperson has reportedly commended Perpule on its establishment of a ground-breaking cloud-based POS product that can help offline retail stores in India to manage their checkout processes, inventory, and customer experiences more efficiently. The company has expressed its excitement at bringing the Perpule team on board and will be targeting its efforts towards creating growth avenues for businesses of all sizes in the country, whilst raising shopping experience standards for Indian customers.

Amazon’s venture into the physical retail sector comes along the heels of similar efforts being taken by rival companies Flipkart and Reliance Jio Platforms, which raised more than $20 billion in 2020. The Perpule acquisition was undertaken within days of Google extending its support to DotPe, a startup firm that has similar offerings.

Source Credit: https://techcrunch.com/2021/03/30/amazon-acquires-indian-retail-startup-perpule/



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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