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Amazon Nabs Indian Retail Startup Perpule

Amazon Nabs Indian Retail Startup Perpule

Retail Bum
Amazon Nabs Indian Retail Startup Perpule

Amazon has acquired Indian retail startup Perpule, which helps offline mom and pop stores go online.

Perpule offers a mobile point of sale (mPOS) device that offline retailers can use to accept digital payments and establish their presence on mini-app stores run by players such as Paytm, PhonePe and Google Pay in the country.

The acquisition marks the eCommerce giant’s latest attempt to establish its foothold in the Indian market, where it is facing growing competition from domestic and international players such as Reliance Industries and Walmart.

Amazon paid $14.7 million in an all-cash deal to acquire the startup and is expected to spend another $5 million to compensate the startup’s employees, TechCrunch reported.

“Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process and overall customer experience,” an Amazon spokesperson said in a statement. “We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”

The five-year-old, Bangalore-based startup started out with a solution that helped shoppers avoid queues at big-box retailers, but its solution never resonated with shoppers. It later pivoted to its current mPOS offering, which yielded more success.

Last year, the company expanded its presence to other southeast Asian countries, including Indonesia, Malaysia, Thailand, Singapore and Vietnam.

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