Amazon Has Secretly Become A Giant Bank

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Riddick
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Amazon Has Secretly Become A Giant Bank

Post by Riddick » 06-08-2017 03:17 PM

Amazon.com (AMZN) said Thursday that its Amazon Lending service has surpassed $3 billion in loans to small businesses since it was launched in 2011.

In the last 12 months alone the eCommerce giant has loaned over $1 billion to small businesses. Hiking up the sales for third party merchants is a plus for Amazon, as the company gets a piece of the transaction.

"We created Amazon Lending to make it simple for up-and-coming small businesses to efficiently get a business loan, because we know that an infusion of capital at the right moment can put a small business on the path to even greater success," Amazon Marketplace VP Peeyush Nahar said.

Over 20,000 small businesses have received a loan from Amazon and more than 50% of the businesses Amazon loans to end up taking a second loan.

Amazon's stock was down 0.2% to $1,008.50 on Thursday afternoon.

https://www.thestreet.com/story/1416994 ... sales.html

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The Everything Store Expands

Post by Riddick » 06-20-2017 01:13 AM

Amazon Expands Its Empire—And Its Place In Society

News that Amazon intends to buy Whole Foods Market for more than $13 billion was greeted jubilantly by financial markets, with Amazon’s stock rising 2.5 percent, almost enough to cover the entire purchase.

The move takes it one step closer towards founder Jeff Bezos’ long-held ambition of becoming the “world’s store,” and it is unquestionably the central actor in the remaking of American, and perhaps global, consumerism.

What remains unclear is whether it is overall a force for good, or a destroyer of traditional retail that erodes jobs, ruins malls, and transforms a once-productive workforce into underemployed, couch-bound consumers. FULL STORY

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