Cloudtail & Parent Firm Prione's employees onboarded by Amazon

25 April 2022, Mumbai:

Ecommerce major hires First Advantage to run background checks on Priane staff, says a source.

ALSO READ Cocoblu Retail to take over Cloudtail’s business

Making space
Previously, Amazon held a 49% stake in Cloudtail.
Cloudtail was set up in 2014 as a JV between Amazon and Catamaran Ventures, the investment office of Infosys founder NR Narayana Murthy.
Amazon was forced to trim its stake to 24% in 2019 to comply with India's FDI regulations for the e-commerce sector.

RELEVANT NEWS Cocoblu Eyes At Acquiring Cloudtail's Fashion Biz

Prior to the formal announcement on employee transfers, Cloudtail has been transferring the inventory and business rights to other sellers on Amazon India.

ET reported on March 28 that VRP Telematics and Rocket Kommerce will take over a portion of Cloudtail's business while Cocoblu Retail is taking over segments like fashion.

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CREDITS: *ET Dt 25-04-2022 (The news article has not been edited by DFU Publications).