Narayan Murthy and Siddha Murthy earned Rs 915 crore from one deal, tripling profits.

Narayan Murthy and Siddha Murthy: Infosys founder Narayan Murthy and his wife Sudha Murthy made a profit of Rs 915 crore from the deal between CloudTel and Amazon. The deal gave him nearly three times the return on his investment. The deal was done through the Murthy family’s investment company Catamaran. Catamaran sold 76% stake in e-commerce retailer Cloudtail for around Rs 1,332 crore.

The Murthy family had invested Rs 417 crore in CloudTel.

The company’s regulatory filings revealed that the Murthy family had invested Rs 417 crore in CloudTel, which turned into Rs 1332 crore in 8 years. Thus, Narayan and Siddhamurthy made a profit of Rs 915 crore from this deal. Catamarans have developed rapidly over the last decade. Catamaran bought the stake in Cloudtail through the Huber Mellow Trust. Sudhamurthy had 80% stake in it and Narayanamurthy held the rest.

50% of the sales on Amazon were done by this company.

Cloudtail is a joint venture between Amazon and Catamaran. It was created in 2014. The company trains merchants on Amazon’s e-commerce platform. It also helps connect them to Amazon. Cloudtail grew rapidly and soon became the largest merchant on Amazon. At one time, about 50 percent of sales on Amazon were made through this company alone. But, due to changes in e-commerce law, Amazon had to reduce its stake.

In March 2022, the sales figure reached Rs 19 thousand crore.

Cloudtel had touched the peak sales figure of Rs 19 thousand crore in March 2022. A year later, in March 2023, the company’s sales were just Rs 3,100 crore. Under the partnership agreement with Amazon, Catamaran is also to receive an exit bonus of 20 percent of Cloudtail’s revenue for fiscal 2022.

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(Tags Translation)Narayan Murthy

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