With $1 billion in a year, team India is just fabulous: Amazon CEO Jeff Bezos

September 29, 2014

Amazons Bezos

Bangalore, Sep 29: India has surpassed the highest expectations for Amazon, the company's founder and CEO Jeff Bezos said, promising to keep the money tap open for a business that he announced has sold goods worth more than $1 billion (Rs 6,000 crore) in just over a year of operations.

"We had very high expectations and this team has blown past our highest expectations... It's going extraordinarily well," said Bezos, 50, who is making his second visit to India and his first after Amazon launched its India retail business in June 2013. "The results are very good. Now that's why we are doubling down our investments... If there is an opportunity to invest more, we will. We are not capital-constrained, we are ideas-constrained he said.

In July, Bezos committed to invest $2 billion in India, just a day after India's biggest online retailer Flipkart announced $1 billion in funding, setting the stage for a battle for top honours in a market that retail advisory Technopak expects to be worth $32 billion (Rs 1.9 lakh crore) by 2020.

With an estimated net worth of $30 billion, Bezos is one of the world's richest men and India is crucial to his plans for Amazon, given the country's size and potential, and especially since it has failed to make much headway in China.

Unfazed by Alibaba

His company launched relatively late in this country. Amazon's share price has fallen by around 20% on the Nasdaq this year, and China's Alibaba is flush with cash after its IPO and ready to challenge Bezos around the world, including India. But Bezos, who swears by the credo of long-term thinking, is unfazed.

"Judging just based on results, I would say we have come exactly at the right time," Bezos said in response to a question about whether he has left India until too late, and let out a full-throated guffaw, one of several that punctuated the 40-minute interview.

Amazon's main rivals in India are Bangalore-based Flipkart and Snapdeal, the Delhi-based company that counts eBay, Azim Premji and Ratan Tata as investors. Together, they have sold goods worth more than $4 billion, with Flipkart alone estimated to have crossed $2 billion. Alibaba, too, is keen on India, and the Chinese company has the money, experience and ambition to succeed here.

Does Alibaba's $25-billion IPO earlier this month put Bezos under added pressure? "If so, I haven't felt it," he said, bellowing once again with laughter and reiterating his focus on good business results over the long term.

Asked what was his message for Sachin Bansal and Binny Bansal of Flipkart (both former employees of Amazon India) especially after it appeared to have tauntingly welcomed him with giant billboards across Bangalore, including one outside the Sheraton hotel where he is staying, announcing its upcoming 'Big Billion Day' sale, Bezos refused to be drawn to speak about competition.

"I have this long-standing practice about not talking about other companies. We have a somewhat unusual or rather unique approach of mostly ignoring our competitors," he said.

With revenue of nearly $75 billion in 2013 and a market value of $150 billion, Amazon is best-known as an online retailer. But it also runs a fastgrowing cloud computing business called Amazon Web Services and makes Kindle tablets and Fire smartphones. Bezos, in his personal capacity, bought The Washington Post newspaper last year. In India, Amazon started its technology operation first and employs a total of about 12,000 staff at offices in Bangalore, Hyderabad, Chennai and Delhi.

Dressed casually in beige trousers and a light blue shirt, Bezos was unstinting in his praise for country head Amit Agarwal, whose team has made sure that India is the fastest country to reach $1 billion in gross sales for Amazon. "He is going to blush because I am going to say so many good things," Bezos at the start of the interview said about his former technical advisor at Seattle headquarters.

Some of the innovations by the India operation are being exported to the rest of the world, Bezos said, pointing to its 'Easy Ship' service of delivering goods for sellers who don't stock their products with Amazon.

"I am super excited," he said. Traditionally, Amazon has grown organically but it is open to acquisitions in India, Bezos said, as he spoke of the Indian operation along with AWS, Kindle and fashion as the company's new frontiers. "Mostly we grow organically and that's true in India. But if there are opportunities to do acquisitions, we'll always consider."

Asked whether India's marketplace-based e-retailing model was a bother - Amazon operates an inventory-based model at home - Bezos said his company had no issues whatsoever, dispelling a perception that the Indian system was an irritant and he would lobby with the government during this visit to change it. "Our marketplace model is working phenomenally well... I always tell my team that whatever the rules are, we are the ones who would have to adapt to the local rules," he said.

Some five years ago, Bezos made a quiet two-week visit to India, allocating the first half of his trip for business and rest for leisure. The father of four took his nine-year-old son to the main tourist attractions, including the Taj Mahal in Agra and Varanasi, a city now represented in the Lok Sabha by Prime Minister Narendra Modi.

"I find India and the people not just energetic but personally energising," he said.

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Agencies
May 19,2020

Cybersecurity researchers on Monday warned of a Trojan malware campaign which is targeting India's co-operative banks using COVID-19 as a bait.

Seqrite, the enterprise arm of IT security firm Quick Heal Technologies, detected the new wave of Adwind Java Remote Access Trojan (RAT) campaign.

Researchers at Seqrite warned that if attackers are successful, they can take over the victim's device to steal sensitive data like SWIFT logins and customer details and move laterally to launch large scale cyberattacks and financial frauds.

According to the researchers, the Java RAT campaign starts with a spear-phishing email which claims to have originated from either the Reserve Bank of India or a nationalised bank.

The content of the email refers to COVID-19 guidelines or a financial transaction, with detailed information in an attachment, which is a zip file containing a JAR based malware.

Upon further investigation, researchers at Seqrite found that the JAR based malware is a Remote Access Trojan that can run on any machine which has Java runtime enabled and hence it can impact a variety of endpoints, irrespective of their base operating system.

Once the RAT is installed, the attacker can take over the victim's device, send commands from a remote machine, and spread laterally in the network.

In addition, this malware can also log keystrokes, capture screenshots, download additional payloads, and extract sensitive user information, Seqrite said, adding that such attack campaigns can effectively jeopardise the privacy and security of sensitive data at the co-operative banks and result in large scale attacks and financial frauds.

To prevent such attacks, users need to exercise ample caution and avoid opening attachments and clicking on web links in unsolicited emails.

Banks should also keep their operating systems updated and have a full-fledged security solution installed on all the devices, Seqrite advised.

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Agencies
July 2,2020

Paris, Jul 2: Several interacting exoplanets have already been spotted by satellites. But a new breakthrough has been achieved with, for the first time, the detection directly from the ground of an extrasolar system of this type.

An international collaboration including CNRS researchers has discovered an unusual planetary system, dubbed WASP-148, using the French instrument SOPHIE at the Observatoire de Haute-Provence (CNRS/Aix-Marseille Universite).

The scientists analysed the star's motion and concluded that it hosted two planets, WASP-148b and WASP-148c. The observations showed that the two planets were strongly interacting, which was confirmed from other data.

Whereas the first planet, WASP-148b, orbits its star in nearly nine days, the second one, WASP-148c, takes four times longer. This ratio between the orbital periods implies that the WASP-148 system is close to resonance, meaning that there is enhanced gravitational interaction between the two planets. And it turns out that the astronomers did indeed detect variations in the orbital periods of the planets.

While a single planet, uninfluenced by a second one, would move with a constant period, WASP-148b and WASP-148c undergo acceleration and deceleration that provides evidence of their interaction.

The study will shortly be published in the journal Astronomy & Astrophysics.

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Agencies
January 10,2020

Indian enterprises were flooded with a whopping 14.6 crore malware threats in 2019 - a growth of 48 per cent (year-on-year) compared to 2018, a new report said on Friday.

Manufacturing, BFSI (banking, financial services and insurance), education, healthcare, IT/ITES, and the government were the most at-risk industries in the country, said the report from Seqrite, the enterprise arm of Pune-based IT security firm Quick Heal Technologies.

Interestingly, almost a quarter (23 per cent) of the threats were identified through 'Signatureless behaviour-based' detection by Seqrite, indicating how a growing number of cybercriminals were deploying new or previously unknown threat vectors to compromise enterprise security.

"With the latest Seqrite annual threat report, we want to empower CIOs, CISOs, business leaders and all key public stakeholders with the insights they need to combat the growing complexity of the threat landscape," said Sanjay Katkar, Joint Managing Director and CTO, Quick Heal Technologies.

The most prominent trend was the drastic increase in the volume, intensity, and sophistication of cyber-attack campaigns targeting Indian enterprises in 2019.

The rapid integration of IoT devices, BYOD (bring your own device), and third-party APIs into enterprise networks has created newer security vulnerabilities that might go unnoticed until a major breach occurs.

Threat researchers at Seqrite observed several large-scale advanced persistent threats (APT) attacks deployed against organisations in the government sector.

"The entry of nation-states and organised cybercrime cells into the fray is expected to add more complication to this situation and will require Indian government bodies and corporate enterprises to shore up their cyber defence strategies in 2020 and beyond," the report noted.

More alarming, however, was the continued lack of security awareness amongst enterprises and government organisations.

"Unsecured Remote Desktop Protocol (RDP) and Server Message Block (SMB) protocols continued to be targeted through brute-force attacks," said the report.

Spear phishing attack campaigns leveraging Office exploits and infected macros were also used extensively by cybercriminals to gain access to enterprise networks and steal critical data.

"India's digital journey depends on ensuring robust cybersecurity for all stakeholders within the enterprise ecosystem," said Katkar.

The sharp spike should be a cause of concern for CIOs and CISOs in the country, especially given the growing digital penetration within their enterprise networks.

"With network vulnerabilities and potential entry points increasing at a rapid pace, threat actors are expected to leverage artificial intelligence (AI) capabilities to power their malware campaigns in the future to capitalise on newer attack vectors," the report added.

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