Mighty Amazon

Posted by michael on Tuesday May 13, 2003 @06:00AM from the watch-out-for-piranhas dept.

theodp writes "Fortune reports that the patent-pending practice of selling partners' used and new goods next to Amazon's own was CEO Jeff Bezos' response to the emerging threat of eBay. Seeing an opportunity to overtake the online auctioneer as well as a way to slow the need to add warehouse capacity, Bezos 'bet big and put hundreds of his best people on it.' While Bezos' decision caused a lot of discomfort at the time, including the Authors Guild protest and the subsequent e-mail campaign in Amazon's defense, today almost 20% of the e-tailer's unit volume is sold through others, yielding revenue that is almost pure profit."

1 of 189 comments (clear)

Min score:

Reason:

Sort:

READ PLEASE by Anonymous Coward · 2003-05-13 06:12 · Score: 0, Flamebait

It would be nice if you all would READ things first. Considering, Amazon is NOT profitable. Its a shitty company who spent all of their stock holders money gaining share in the market place, and are just now looking into how to cover its bets. Profit my ass, they owe thousands of people millions of dollars. Please check your facts first. They are LOSING 37 cents per share.