Cloudtail India, once a major seller on Amazon India, has reported an 84% drop in operating revenue in FY23. The decline is attributed to the company's decision to stop selling on Amazon to comply with regulations. Cloudtail's parent company, Prione Business Services, has been renamed Amazon Smart Commerce Solutions. In 2019, Amazon reduced its stake in Cloudtail to 24% to comply with foreign direct investment regulations. Cloudtail India still provides services on the Amazon marketplace, such as seller onboarding and cataloging.
from Gadgets Now https://ift.tt/urBCSiq
No comments:
Post a Comment