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Amazon worker at New York warehouse dies of COVID-19

6May By Ankita SinghNo Comments

News

Amazon worker at New York warehouse dies of COVID-19

An Amazon worker at a warehouse in New York where employees called for greater coronavirus safety measures has died of COVID-19, the e-commerce giant said on Tuesday. "We are deeply saddened by the loss of an associate at our site in Staten Island, NY," Amazon spokesperson Lisa Levandowski said in a statement emailed to AFP. "His family and loved ones are in our thoughts, and we are supporting his fellow colleagues," she added. Amazon has become a lifeline for consumers facing lockdowns and restrictions around the world, and the company is in the process of adding some 175,000 new employees to cope with the surging demand. But the company has also faced protests from warehouse workers and activists who claim Amazon has failed to do enough to keep them safe. More than a dozen...

Amazon Largest Third Party Private Label Company Raises $100 Million

13Apr By NitishNo Comments

FUNDING

Amazon Largest Third Party Private Label Company Raises $100 Million

NEW YORK, April 12th, 2020-- The largest acquirer of Amazon third-party private label businesses Thrasio has secured over $100 million in fresh capital from existing investors which includes Peak6, Upper90, WTI, River Park Ventures, and others. The funding includes $75 million in Series B Preferred equity and $35 million in additional debt capacity bringing total capital raised to over a quarter billion dollars. The Series B values the company at over $700mm, a 32x increase in valuation in the last 12 months (since the March '19 Series Seed financing). In the last 18 months, the company's gross revenue has grown from zero to over $200,000,000. Thrasio has acquired over 40 businesses (and integrated them onto its proprietary operating platfo...

Amazon Prioritizes Medical Supplies, Staples for Delivery

18Mar By AdityaNo Comments

News

Amazon Prioritizes Medical Supplies, Staples for Delivery

Amazon has made a priority of medical supplies and household staples, putting shipments of other goods on hold to focus on key items during the coronavirus outbreak. "We are seeing increased online shopping and as a result some products such as household staples and medical supplies are out of stock," the e-commerce titan said on Tuesday. "We are temporarily prioritizing household staples, medical supplies and other high-demand products coming into our fulfilment centres so we can more quickly receive, restock and ship these products to customers," it said. People hunkered down due to the deadly coronavirus have turned to Amazon for anything from toilet tissue to groceries and pet treats. "There's enormous pressure on Amazon to meet these increased expectations," said Technalys...

Amazon Opens Cashier less Grocery Store in Seattle

26Feb By AnkitaNo Comments

News

Amazon Opens Cashier less Grocery Store in Seattle

Amazon, an online eCommerce platform is opening its first cashier-less supermarket, the latest sign that Amazon is serious about shaking up the $800 billion grocery industry. Amazon on Tuesday opens up its new store in Seattle, where shoppers can grab milk or eggs and walk out without checking out or opening their wallets. Shoppers scan a smartphone app to enter the store. Cameras and sensors track what's taken off shelves. Items are charged to an Amazon account after leaving. Called Amazon Go Grocery, the new store is an expansion of its 2-year-old chain of Amazon Go convenience stores. At 10,400 square feet, the supermarket is more than five times the size of the smaller stores, and stocks more items beyond the sodas and sandwiches found at Amazon Go. The new market stocks fresh...

Amazon Founder Buys Warner Estate for $165 mn

13Feb By PriyankaNo Comments

News

Amazon Founder Buys Warner Estate for $165 mn

Amazon founder & CEO Jeff Bezos bought the Warner Estate from media mogul David Geffen for $165 million, setting a new record for the region. This Los Angeles based home deal price set a new record in the area, according to the data. Last year Lachlan Murdoch paid around $150 million for a Bel-Air estate seen in "The Beverly Hillbillies," a 1960s television show. The Warner Estate spans nine acres (3.6 hectares) in Beverly Hills. It is a Georgian-style compound with a floor once owned by Napoleon, guest houses, a tennis court, and a nine-hole golf course. It was originally built in the 1930s by the late Jack Warner, former president of Warner Brothers, the Journal reported. Bezos, whose worth has been estimated at more than $110 billion, started internet colossus Amazon...

Pentagon awards Microsoft $10 Bn ‘War Cloud’ Deal

29Oct By Press Trust of IndiaNo Comments

USA

Pentagon awards Microsoft $10 Bn ‘War Cloud’ Deal

The Pentagon has awarded Microsoft a USD 10 billion cloud computing contract called JEDI. The contentious bidding process for the contract pitted Microsoft, Amazon, and Oracle, among others, against one another. Bidding for the huge government contract has attracted more attention than usual, sparked by speculation early in the process that Amazon would be awarded the deal. Tech giants Oracle and IBM pushed back with their own bids. Oracle also challenged the bid process in federal court but lost. The resulting system will store and process vast amounts of classified data, allowing the US military to use artificial intelligence to speed up its war planning and fighting capabilities. The Department of Defence emphasized in an announcement that the process was fair and followed p...

Amazon Ordered 100,000 fully-electric delivery vehicles

23Sep By PriyankaNo Comments

News

Amazon Ordered 100,000 fully-electric delivery vehicles

Online eCommerce company Amazon ordered 100,000 Electric delivery Vans from US based startup Rivian. Amazon, which currently delivers 5 billion products per year is committed to meet the Paris Agreement 10 Years early through this deal. The move is a major boost to Rivian, a Tesla like automaker that will launch its first production vehicle next year. Based at Michigan, Rivian is custom designing the vans including exterior, interior, suspension, and software for Amazon. Amazon will deploy the vans globally. Rivian aims to deliver the first Amazon vans by 2021, and to deliver 10,000 by late 2022. In a press release, Amazon said it expects to have the full fleet on the road by 2030. The automaker will also service the vans (though electric vehicles require less maintenanc...

29Aug By PriyankaNo Comments

BLOGS

Why the Amazon forest is Burning

Washington: Since the last three weeks, the Amazon rainforest is burning and none have a clear answer or could help in this expect for raising funds and tweet over the issue. Some said it's a sign of Global warming and some said its happen because fuelled mainly by branches, vegetation and other byproducts of deforestation in cleared areas. The popular reason behind this scale of fires is the result of significant acceleration of deforestation for the lumber industry, for agriculture or for other human activities. One of the scientist from Lawrence Berkeley National Laboratory said, "In the tropics, fire is used extensively in a land-use environment,"."It's how you get rid of your agricultural waste products... And part of the reason why that works is because those fires don't ge...

Kishore Biyani Lauded Amazon Deal, Help Future Group on Payment Side

27Aug By AdityaNo Comments

Entrepreneurs Talk

Kishore Biyani Lauded Amazon Deal, Help Future Group on Payment Side

Future Group founder Kishore Biyani has said global e-commerce giant Amazon's investment in the firm is not just to raise money but also to become a part of the ecosystem. The company recently announced Amazon picking up a full 49 percent stake in Future Coupons, the promoter entity of Future Retail, with an option to acquire the entire stake later. Future Coupons currently does not own a stake in Future Retail but had recently subscribed to convertible warrants for Rs 2,000 crore. "We had subscription warrants of our company and we had to raise money, so the deal was struck. Moreover, the investment by Amazon is strategic to become a part of the ecosystem," Biyani said here late Monday evening. He said the deal is basically aimed at enhancing the payments portfolio of both the...

Jeff Bezos sells Amazon shares worth $2.8 billion

6Aug By PriyankaNo Comments

News

Jeff Bezos sells Amazon shares worth $2.8 billion

San Francisco: Amazon.com Inc Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to $2.8 billion. In the last three days of July, Bezos has sold stock worth about $1.8 billion, regulatory filings with the Securities and Exchange Commission showed. Amazon declined to comment on Bezos' stock sale. The move comes as part of a previously announced trading plan. Bezos had previously said he plans to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin. Bezos' former wife, Mackenzie Bezos, who currently owns Amazon stake worth more than $37 billion, is now the online retailer's second largest individual shareholder. https://pixr8.com/n...

Reliance acquires Fynd Stake For $42.33 million

5Aug By AnkitaNo Comments

ACQUISITION

Reliance acquires Fynd Stake For $42.33 million

India's leading telecom and oil company Reliance Industries Ltd proposes 87.6% stake buyout in Shopsense Retail Technologies, also known as Fynd, for $42.33 million. Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of the company, has entered into an agreement for the acquisition of shares of Shopsense Retail, Reliance Industries Ltd (RIL) said in a regulatory filing. Reliance also mentioned in filling that it has an option to further invest up to 1 billion rupees by December 2021 in Fynd, a software technology company formed in September 2012. Reliance Industries already runs retail stores and has announced plans to diversify into e-commerce. Recently, eCommerce company Amazon is in talks with Reliance's retail unit to buy a stake in its re...

Pentagon stalls $10 bn cloud contract given to Amazon

2Aug By AdityaNo Comments

USA

Pentagon stalls $10 bn cloud contract given to Amazon

The Pentagon has put off awarding a $10 billion cloud computing contract sought by Amazon, saying the process will be reviewed by the newly appointed defense secretary. Amazon was considered a strong contender to provide technology for the Joint Enterprise Defense Infrastructure (JEDI) program a contract that is also being pursued by Microsoft but critics argued that the bidding process favored the Seattle-based technology titan. The move to stall the contract process came a week after Mark Esper was confirmed as the new US secretary of defense. Esper was selected by US President Donald Trump, who has lashed out at Amazon and company founder Jeff Bezos, who owns The Washington Post. "Secretary Esper is looking at the Joint Enterprise Defense Infrastructure (JEDI) program," defe...