Amazon app is second most popular in India; yet Tiger Global cuts stake in Amazon by 67%, why?

Leading ecommerce company Amazon has good news and bad news. The bad news first – investor Tiger Global has brought down its share in Amazon. Tiger Global, which originally had 3.19 million shares worth $2.16 billion in the company, has now brought it down to 1.04 million shares worth $619 million.

The move comes close on the heels of a fall in Amazon’s shares. In the initial few months of 2016, Amazon’s shares’ worth has fallen by 12%. However, the company has managed to recover and notch up a share value of $720.6 in March 2016.

And the good news? Amazon app races past Paytm

According to data provided by AppAnnie, the number of downloads of Amazon’s mobile app has crossed that of Paytm. As of September 2015, the figures say the following: Flipkart has 41.4 million downloads, and Amazon has 20.2 million; quite a steep difference.

However, Amazon wins hands down in terms of the number on its website versus Flipkart. The company has revealed ComScore data that pegs the number of unique visitors to its website at 30 million in October. This beats Flipkart’s score of 27 to 28 million, Jabong’s 21 million, and Snapdeal’s 17 to 18 million.

The whole scenario is a combination of pros and cons for Amazon. The company appears to be planning its further steps in India with a good financial backing and ad campaigns that appeal to the local shopper.