Amazos Digital Life (AMZ) is a digital lifestyle brand that focuses on content creation and sharing.
It was founded in 2012 by Amrita Shah, who joined the company in 2016.
AMZ is owned by the Reliance group and was founded to help digital lifestyle brands build sustainable business models through the acquisition of digital assets.
AMAZ acquired the digital assets in 2019 and launched its first digital platform, Amazon TV, in 2020.
It has over 50 million monthly active users and is valued at US$13 billion.
AMY, which also owns Amazondomedia, is the second largest digital media company in India, with a market cap of US$1.8 billion.
The new ownership will bring Amazonds digital assets to Reliance Group and AMZ.
A large portion of the acquired assets will be used to build new products and services to support AMZ’s existing customers and to help the business grow.
The acquisition of AMAZ was announced by Reliance and its Chief Executive Officer and Chief Operating Officer, M Suresh, in a joint statement on Monday.
The transaction was expected to close by the end of this month.
The Amazones Digital Life platform has been used by over 200 million people in the past three years and has grown to include over 1,000 million video views and over 700 million video downloads.
This has helped Amazonder build an ecosystem of digital content creation, content sharing and distribution across more than 200 brands and platforms, according to a press release.AMZ also plans to add a new brand to its platform, AMY Media, which will leverage the same technology and expertise.
The two companies plan to integrate AMY into Reliance Media’s portfolio, including digital media, in order to grow the brand.
The company will work closely with Reliance, AMZ, and AMY’s existing brands and content partners to build AMY.
AM Z will continue to leverage the technology that is built into Amazonglobe and AMAZtv to serve its customers, as well as AMY media, which is expected to offer an enhanced, personalized experience across digital platforms and devices.
The company is also in talks with a range of digital media companies in India for digital distribution of their content, including Reliance Communications, a media and content conglomerate with an online audience of more than 60 million.
Reliance acquired the media company, Amzon Media, for US $9 million in 2020, but has yet to finalize a deal with AMZ for the digital distribution platform.
The companies will also be working on a partnership that would provide AMZ with a network of platforms to support the growth of its existing customers, according the release.
The partnership is expected soon, according a source familiar with the matter.AMAZ will also continue to offer its AMAZTV, which was launched in March 2018.
AMIZtv is currently available on mobile devices in India and will be rolled out on desktop platforms, including the Relias Android and Apple iOS platforms.
The Amazonz online service will offer subscribers the opportunity to stream AMAZ videos and AMaz music.