Cloudtail ceases operations as Amazon, Murthy end JV

This comes against the backdrop of the Indian government and its agencies tightening vigil and launching multiple investigations on US e-commerce firms alleging violations of foreign investment rules in retail.

One of Amazon India’s largest sellers, Cloudtail India Pvt. Ltd, will cease to exist in May next year as the N.R. Narayana Murthy-owned Catamaran Ventures and Amazon India break their seven-year partnership. This comes against the backdrop of the Indian government and its agencies tightening vigil and launching multiple investigations on US e-commerce firms alleging violations of foreign investment rules in retail.

Catamaran Ventures and Amazon India will not renew their contract for joint venture Prione Business Services Ltd, the parent of Cloudtail India, leading to the end of its seven-year term on May 19, 2022, according to a joint statement by the two firms on Monday.(Reuters)

Catamaran Ventures and Amazon India will not renew their contract for joint venture Prione Business Services Ltd, the parent of Cloudtail India, leading to the end of its seven-year term on May 19, 2022, according to a joint statement by the two firms on Monday.

Prione, which was founded in 2014, has enabled more than 300,000 sellers and entrepreneurs to go online and enabled 4 million merchants with digital payment capabilities, according to the statement.