tech:

taffy

Amazon plans $3 billion investment in India

Amazon is planning to invest $3 million in India, bringing the company’s total investment in the country to $5 billion to date. The announcement was made by Jeff Bezos, chief executive of the company at a meeting of business leaders with the Indian prime minister Narendra Modi in Washington on Tuesday.

Amazon partners with logistics service provider ConnectIndia in the country to appoint offline associates across retail points like kirana or local grocery stores, pharmacies, and mobile shopping outlets, armed with a PC-based website. The store owners are trained to help customers find and buy products of their choice, while earning a commission in the process. Amazon.in then delivers the products to the customer’s doorsteps or to ConnectIndia centers, and they pay in cash while receiving the packages.

The e-commerce market in India was worth roughly $23 billion in 2015, according to the Associated Chambers of Commerce and Industry of India. Players in the Indian e-commerce space like Flipkart or Snapdeal (as well as Amazon) act as a platform, facilitating connections between buyers and sellers.

Just in

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.