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Jeff Bezos will step down as CEO of Amazon

3Feb By AnkitaNo Comments

News

Jeff Bezos will step down as CEO of Amazon

New York, Feb 3, 2021: World's leading eCommerce platform Amazon.com Founder & CEO Jeff Bezos will step down later this year as CEO to become executive chairman. Acted as a CEO for 30 years Bezos will be replaced by Andy Jassy, who runs Amazon's cloud-computing business. Under the leadership of Andy Jassy Amaozn cloud-computing business powers video-streaming site Netflix and many other companies, and it has become Amazon's most profitable business. In a blog post to employees, 57-year-old Bezos said, he planned to focus on side projects, including his space exploration company Blue Origin, his philanthropic initiatives, and overseeing The Washington Post, which he owns. “Jeff is really not going anywhere," Amazon's Chief Financial Officer Brian Olsavsky said in a call with...

2Jun By AnkitaNo Comments

FUNDING

Beacon raises $15 million funding from Jeff Bezos & others

LONDON, June 1, 2020 -- Uk based logistics company Beacon has raised over $15 million in its Series A fundraising round, with investors including Jeff Bezos, the founder and CEO of Amazon, and leading US venture capital firm 8VC. Beacon was founded in 2018 by CEO Fraser Robinson and COO Dmitri Izmailov, both former Uber executives. They were joined by CTO Pierre Martin, previously at Amazon, bringing together a management team with deep expertise in logistics, technology, finance and hyper-growth. The freight forwarding and supply chain finance industries are worth an estimated $1 trillion and $12 trillion a year, respectively. Beacon offers a full range of services, including global ocean, air and truck freight, together with supply chain finance, all of which can be accessed...

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...

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...

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...

MacKenzie Bezos surrender 75% Amazon couple shares

4Apr By PriyankaNo Comments

News

MacKenzie Bezos surrender 75% Amazon couple shares

MacKenzie Bezos, ex-wife of Amazon founder Jeff Bezos, announced Thursday the couple had finalised their divorce, and that she would surrender 75 per cent of the couple's shares in the tech giant. Bezos also said she would surrender all of her stake in The Washington Post and the space exploration firm Blue Origin to her ex-husband, as well as voting control of her remaining Amazon shares. But Mackenzie will still retains 25% of Amazon stock which is equal to $35 billion dollars. MacKenzie Bezos will become Fourth-Richest Woman After Divorce. "Grateful to have finished the process of dissolving my marriage with Jeff with support from each other and everyone who reached out to us in kindness," MacKenzie Bezos wrote on Twitter. https://pixr8.com/news/amazon-ceo-jeff-bezos-and-wi...

Amazon CEO Jeff Bezos and wife MacKenzie to divorce

10Jan By reutersNo Comments

News

Amazon CEO Jeff Bezos and wife MacKenzie to divorce

Amazon.com Inc founder and Chief Executive Jeff Bezos and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday. Jeff Bezos, 54, has a fortune that has soared as high as $160 billion thanks to his stake in Amazon, which again became Wall Street’s most valuable company this week, surpassing Microsoft Corp. Bezos has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon, an online bookseller that grew into the world’s largest internet retailer. MacKenzie Bezos, a Princeton graduate who is now a novelist, did accounting for Amazon for its first year after it was founded in 1994. The couple decided to divorce after a long period of “loving exploration” and trial separ...

Amazon India Offers Cashback to Customers Celebrating Wallet Success

7Jun By Lavina TolaniNo Comments

News

Amazon India Offers Cashback to Customers Celebrating Wallet Success

E-commerce giant Amazon is loading cash to its digital wallet for customers in India as it is actively pushing to deepen its footprint in the country battling competition from rivals-Alibaba and Walmart. A letter dated June 5 issued to customers, which also marked the fifth anniversary of launch in India, Jeff Bezos, Amazon founder offered a cashback of Rs 250 to be paid into Amazon pay wallets for customers who shopped online for goods worth Rs 1000 on Wednesday. It is interesting to note that the US retail giant has reported a 126% growth in transactions and 68% growth in unique users in its Indian business operations. Amazon has invested Rs. 700 crore in its Indian digital payment business since 2016 as it is looking forward to boosting its e-wallet and bring in new innovations...

Amazon India’s Valuation Reaches Staggering Figures

21May By Sheldan RungasamyNo Comments

News

Amazon India’s Valuation Reaches Staggering Figures

The Indian e-commerce market has become a real battlefield, whereby global mammoth such as Amazon, Walmart and even Alibaba are competing fiercely to kick each other out of the landscape. The companies’ market strategy is mostly driven towards customer acquisition and retention, to own the most available market share. Flipkart, the e-commerce giant founded by Indian entrepreneur was recently acquired by Walmart for 16 billion dollars two weeks ago for 77% stakes, making it boast a valuation of $20 billion. However, a report from Citi Research suggest that Amazon India can also be valued at the now significant milestone of $16 billion as well. Indeed, Citi Research published a report last week in which it stated that Amazon India could possibly attain $70 Bn in Gross Merchandise Volum...

Jeff Bezos backed Cancer Startup to Raise $1 Billion Ahead of IPO

19Apr By Lavina TolaniNo Comments

FUNDING

Jeff Bezos backed Cancer Startup to Raise $1 Billion Ahead of IPO

Grail Inc, the cancer-detection startup backed by two world's wealthiest men is planning to raise $1 billion to push growth much ahead of its Initial Public Offering in Hong Kong. The very first product that will focus on screening test for nasopharyngeal cancer will be launched this year informed Grail Incorporation.Nasopharyngeal cancer is a type of cancer prevalent in Southeast Asia and southern China The company which is backed by Amazon Incorporation founder Jeff Bezos and Microsoft co-founder Bill Gates is working on advisers on the new round that is ongoing a preliminary phase and might change in timings and date, said two people involved with the matter. Charlotte Arnold, a spokeswoman for Menlo Park at Grail said that the company doesn’t comment on market speculation or i...

This is How Amazon Avoids Tax in America

7Apr By Sheldan RungasamyNo Comments

ANALYSIS

This is How Amazon Avoids Tax in America

Last week, President Donald Trump directed attacks on Amazon in a tweet stating his disappointment that the e-commerce giant does not pay sufficient taxes. Since 2015, Donald Trump has expressed his contempt towards Amazon and its CEO Jeff Bezos around a dozen times on the micro-blogging site. Trump’s disdain towards the e-commerce giant is often attributed to the negative articles written against the US President in ‘The Washington Post’, which is owned by CEO of Amazon, Jeff Bezos. For this reason, many individuals wonder whether the statements made by the US President are accurate or just “impulsive.” In fact, while it is quite hard to believe, Amazon does indeed pay almost no tax at all in the US. It is very surprising that Amazon lawfully avoided all sorts of corporate taxes despit...

U.S President Lashes Out at Amazon for paying “No-Taxes”

30Mar By Lavina TolaniNo Comments

USA

U.S President Lashes Out at Amazon for paying “No-Taxes”

US President Donald Trump slammed American e-commerce and cloud based company "Amazon" for paying "no-taxes" to local and state government and is reportedly seeking for more stringent regulations on the Seattle-based company, which is currently a global name all over the world, including India. In his tweet posted on Thursday morning, Trump directed his aim over Amazon stating how the company plays immense role on people's everyday's life, where they shop and how the company garners taxes from sales and delivers packages to its customers. I have stated my concerns long before the elections. Unlike other company, Amazon pays very little or absolutely no taxes to local and state government.Moreover, it uses country's postal system as their delivery boy(causing tremendous loss to the US) ...