Amazon will gain a new CEO this summer. As part of its fourth-quarter earnings disclosure, the company announced that Jeff Bezos will transition to the position of executive board chairman while Andy Jassy moves up from Amazon Web Services where he was CEO. Read More
In 2016, Jeff Bezos said of Amazon’s streaming video offerings, “When we win a Golden Globe, it helps us sell more shoes.” This was his way of explaining how the enormous amount of money and resources Amazon was pouring into its original prestige programming could lure customers into the warm embrace of its retail business. But until now, we had to take Bezos’s assertion on faith. I mean, he is the richest man in the world, after all. He must know something. Well, thanks to a scoop by Reuters, we now have a more concrete idea of what Prime Video really means for Amazon’s bottom line: 5 million new customers. Read More
Since Amazon paid an eye-watering $13.7 billion for Whole Foods Market last summer, we knew we'd eventually see some integration of the luxury grocery chain's products into existing Prime services. It's taken a while to work out the details, but Amazon has just announced that Prime Now customers in select locations can now get Whole Foods items delivered within two hours. Read More
Amazon began its existence as an online entity that siphoned business away from brick-and-mortar stores, but there's only so much you can do online. Amazon has been tinkering with more real world services like Prime Now local deliveries and its experimental grocery store in Seattle. Now, Amazon is taking a shortcut to building out its own presence; it's buying Whole Foods for $13.7 billion. Coincidentally, that's about what I spent the last time I went to Whole Foods. Read More
Amazon, in a press release posted this morning, announced that its "#1 best-selling product," the Kindle Fire, is now sold out. The release boasts the Fire's millions of sales, noting that it managed to eat up an impressive 22% of tablet sales in the US, and added to the overall success of Amazon's digital product sales.
What makes this announcement interesting is that Amazon has a press conference scheduled for September 6th, meaning we're likely to see the latest member of the Kindle family unveiled very soon. Jeff Bezos, Founder and CEO of Amazon, didn't comment directly on this possibility, but he did note "Kindle Fire is sold out, but we have an exciting roadmap ahead – we will continue to offer our customers the best hardware, the best prices, the best customer service, the best cross-platform interoperability, and the best content ecosystem." Read More