Tiger Global has cut its shares in US based e-commerce firm Amazon by 67%, according to a regulatory filing.
Apart from Amazon, Tiger Global has also reduced its stake in Chinese e-tailer JD, Alibaba and Apple.
In Amazon, Tiger Global has reduced its shares to 1.04 million which is worth $619 million, down from 3.19 million shares worth $2.16 billion as of December 31.
Tiger Global had acquired stake in Amazon by upto 2.44 million shares but lost 22% in the first three months of 2016, as the company’s shares dipped by 12%. Amazon’s shares later rose high and also touched its all time high price at $720.6 on May 12. [source]
In Apple, the venture capital firm reduced its shares by 25% while in Alibaba it dissolved its entire stake.
Note: Tiger Global is also an investor in rival firm Flipkart which has recently witnessed a number of markdowns by its investors and is also restructuring its business model.
