Editorial Cloze Test Quiz
Flipkart’s announcement that SoftBank Vision Fund, a private equity fund backed by Japanese billionaire Masayoshi Son, would take a ______(1)_______in the company has energised India’s e-commerce space. The investment is widely reported to be about $2.5 billion, and the deal would leave Flipkart with a war chest of $4 billion in cash to sustain its operations. The move is seen as the Japanese billionaire’s response to the increasing domination of India’s e-commerce space by the American giant Amazon. Amazon chief Jeff Bezos claimed in April this year that his company had become India’s fastest-growing e-commerce company. He also said that Amazon _____(2)______to increase its investment in India. A number of private data sources have confirmed since then that Amazon, since its _______(3)________in India in 2013, has either matched or surpassed Flipkart’s performance on various counts. On the other hand, it is well-known that Mr. Son’s initial investment in Snapdeal, an Indian e-commerce venture, was far from successful. In fact, in May this year, SoftBank recognised losses of over $1.4 billion on its investments in Snapdeal and Ola. Mr. Son’s ________(4)_________to merge Snapdeal with Flipkart to create a larger rival to take on Amazon also failed to materialise last month. Yet the allure of the Indian e-commerce market is hard to ______(5)_______. E-commerce is projected to grow at a rapid pace given the large potential in a country where people predominantly shop at traditional bricks-and-mortar retail stores.
Editorial Cloze Test Quiz
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