trending Market Intelligence /marketintelligence/en/news-insights/trending/btomtm8wegxo3aiurslwva2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Report: Former Cloudtail CEO tipped to head Amazon India's food retail business

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

What’s next in Cloud?

Blog

Global M&A Infographic Q1 2021

Blog

COVID-19 Impact & Recovery: Private Equity


Report: Former Cloudtail CEO tipped to head Amazon India's food retail business

Madhu M, former CEO of Cloudtail India Pvt. Ltd., will likely head the food retail venture of Amazon.com Inc.'s Indian arm, The Economic Times (India) reported Aug. 7, citing people aware of the development.

Madhu joined Amazon India in 2011 and in 2014 became CEO of Cloudtail. He rejoined Amazon India three years later as a director after stepping down from Cloudtail, the report said.

Cloudtail sells a variety of consumer goods in India through Amazon's marketplace. Cloudtail's parent company is Prione Business Services Pvt. Ltd., a joint venture between Catamaran Ventures and Amazon.

The report comes more than a year after Amazon was said to have earmarked a $500 million investment in its grocery service in the country.

The sources told the news outlet that the Seattle-based e-commerce giant is preparing to roll out its food retail business across India following a test run in Pune earlier this year.

The business reportedly will be operated by Amazon Retail India, a wholly owned subsidiary of Amazon, and will be separated from the company's e-commerce business.

In June, Amazon was reported to be planning on raising its investment in India to $7 billion following Walmart Inc.'s announced purchase of a majority stake in Indian e-commerce company Flipkart Online Services Pvt. Ltd.