Retail giant Amazon and Catamaran Ventures have decided to end their joint venture, which had been running successfully for the past seven years. The JV was known as Prione Business Services, and the renewal date for the same was on May 19, 2022. Prione has more than 300k entrepreneurs and sellers to go online. The company also had on boarded more than 4 million merchants to digital payment platforms, providing excellent services to the merchants and SMBs. Catamaran and Amazon had formed their partnership before the ecommerce boom in India, and they also had a shared vision to transform the SMBs in this highly fast-changing world we live in.
Global VP and Country Head of Amazon India, AmitAgarwal, has stated that the JV provided the businesses with good online capabilities and had enabled them with access to customers both in India and overseas. The JV is glad to know that they have managed to exceed their vision in helping ecommerce evolve through continuous efforts. When the JV was formed in India, the ecommerce segment had just started to gain traction, and it was clear that SMBs needed support, tools, and training to ride the upcoming wave. The JV managed to make huge leaps in this direction by leveraging the capabilities of Amazon and Catamaran.
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