Article Timeline - Amazon Cloudtail Saga
Prione, formerly called Taurus Business & Trade Services, is set up as a joint venture between Catamaran Ventures (49%) & Amazon (51%). Catamaran is owned by Infosys co-founder NR Narayana Murthy.
Prione sets up Cloudtail India & launches it as a seller on Amazon.
Source: Business Standard
India allows 100% FDI in online retail, bars marketplaces from owning stake in sellers. Also, no seller is allowed to account for more than 25% of sales.
Amazon reveals its stake in Cloudtail India, a third-party seller, to US stock market regulator. Cloudtail accounts for 40% of sales on Amazon.
Source: Economic Times
Competition watchdog CCI receives complaints from All India Online Vendors Association accusing Amazon’s Cloudtail India & Flipkart’s WS Retail of predatory pricing.
New FDI norms for e-commerce come into effect. As per norms, e-commerce Cos can't own inventory sold on the marketplace. To comply, Amazon reduces stake in Cloudtail to 24%. Murthy’s Catamaran Ventures increases stake to 76% from 51%.
Source: Press Trust of India
Cloudtail India, a major seller on Amazon, has been slapped with ~₹55cr in tax. This, after complaints that the e-commerce giant has been giving special treatment to preferred sellers.
Source: The Guardian
Amazon & Narayana Murthy-led Catamaran decide that they won't continue Prione JV after partnership ends in May 2022. This, after years of complaints from seller partners that Cloudtail gets special treatment from the e-tailer.
Source: Business Today