Amazon to add over 2,000 jobs in Britain this year

Facebook exec reminds the world that it won’t control Libra… The need to reiterate these points after only two weeks suggests Facebook will have an uphill battle getting people to trust it with something so sensitive as their finances. Technologyread more


Facebook exec reminds the world that it won’t control Libra… The need to reiterate these points after only two weeks suggests Facebook will have an uphill battle getting people to trust it with something so sensitive as their finances. Technologyread more
Amazon to add over 2,000 jobs in Britain this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: eugene kim
Keywords: news, cnbc, companies, jobs, reiterate, sensitive, wont, amazon, world, facebook, weeks, reminds, britain, trust, suggests, add, 2000, uphill


Amazon to add over 2,000 jobs in Britain this year

Facebook exec reminds the world that it won’t control Libra…

The need to reiterate these points after only two weeks suggests Facebook will have an uphill battle getting people to trust it with something so sensitive as their finances.

Technology

read more


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: eugene kim
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Amazon is making grocery brands pay for losses on Prime Day promotions, as focus on profit grows

As Amazon grows more profit-conscious, it is making sure grocery brands cover losses on low-priced products sold during Prime Day, one of its biggest sales events of the year. For this year’s Prime Day, Amazon is charging “additional funding” to certain grocery brands if sales of their promotional products result in a loss for Amazon, according to an email seen by CNBC. Amazon said the change is intended to “fund the profitability gap” of such products, which Amazon purchases wholesale and sells


As Amazon grows more profit-conscious, it is making sure grocery brands cover losses on low-priced products sold during Prime Day, one of its biggest sales events of the year. For this year’s Prime Day, Amazon is charging “additional funding” to certain grocery brands if sales of their promotional products result in a loss for Amazon, according to an email seen by CNBC. Amazon said the change is intended to “fund the profitability gap” of such products, which Amazon purchases wholesale and sells
Amazon is making grocery brands pay for losses on Prime Day promotions, as focus on profit grows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: eugene kim
Keywords: news, cnbc, companies, grocery, sold, pay, products, prime, focus, unprofitable, sales, required, amazon, vendors, making, losses, profit, deal, day, grows, promotions


Amazon is making grocery brands pay for losses on Prime Day promotions, as focus on profit grows

As Amazon grows more profit-conscious, it is making sure grocery brands cover losses on low-priced products sold during Prime Day, one of its biggest sales events of the year.

For this year’s Prime Day, Amazon is charging “additional funding” to certain grocery brands if sales of their promotional products result in a loss for Amazon, according to an email seen by CNBC. Amazon said the change is intended to “fund the profitability gap” of such products, which Amazon purchases wholesale and sells on its own.

In return, Amazon is waiving the placement fee required to run Prime Day promotions, which typically costs $500 per deal.

“This year we’ve decided not to charge placement fees for inclusion in deal events but instead we request our vendors to fund a [listing] if it’s unprofitable for the duration of the deal,” Amazon’s email to vendors said. “If additional funding is required, it will be based off total unprofitable units sold for the duration of the deal.”


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: eugene kim
Keywords: news, cnbc, companies, grocery, sold, pay, products, prime, focus, unprofitable, sales, required, amazon, vendors, making, losses, profit, deal, day, grows, promotions


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Amazon shoppers spend more and shop more often if they have one-day shipping, survey says

Amazon shoppers who get same-day delivery are likely to spend and shop more on the e-commerce site compared with shoppers who don’t get same-day delivery, according to a recent survey by investment firm RBC Capital. 48% of same-day delivery customers said they spend over $800 a year on Amazon, compared with 33% of those without the same-day shipping option. Same-day delivery users also shop more frequently on Amazon, with 77% of them saying they use Amazon at least two to three times a month ver


Amazon shoppers who get same-day delivery are likely to spend and shop more on the e-commerce site compared with shoppers who don’t get same-day delivery, according to a recent survey by investment firm RBC Capital. 48% of same-day delivery customers said they spend over $800 a year on Amazon, compared with 33% of those without the same-day shipping option. Same-day delivery users also shop more frequently on Amazon, with 77% of them saying they use Amazon at least two to three times a month ver
Amazon shoppers spend more and shop more often if they have one-day shipping, survey says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: eugene kim
Keywords: news, cnbc, companies, shipping, sameday, oneday, customers, survey, delivery, shoppers, dont, shop, spend, amazon


Amazon shoppers spend more and shop more often if they have one-day shipping, survey says

Amazon shoppers who get same-day delivery are likely to spend and shop more on the e-commerce site compared with shoppers who don’t get same-day delivery, according to a recent survey by investment firm RBC Capital.

The survey data shows why Amazon is heavily investing in shortening delivery time. In April, the company announced that it would spend $800 million this quarter alone to make one-day free shipping the default for its Prime members, down from the current two-day free shipping.

Here are some takeaways from the survey, which covered more than 1,900 people:

Higher spending: 48% of same-day delivery customers said they spend over $800 a year on Amazon, compared with 33% of those without the same-day shipping option.

48% of same-day delivery customers said they spend over $800 a year on Amazon, compared with 33% of those without the same-day shipping option. More frequent purchases: Same-day delivery users also shop more frequently on Amazon, with 77% of them saying they use Amazon at least two to three times a month versus 50% for customers who don’t use same-day delivery.

Same-day delivery users also shop more frequently on Amazon, with 77% of them saying they use Amazon at least two to three times a month versus 50% for customers who don’t use same-day delivery. More loyalty: Same-day delivery shoppers also turn out to have a higher intent to spend on Amazon in the next 12 months, while having a much higher satisfaction rate as well.

“The clear takeaway is that with One-Day and Same-Day Delivery, and Prime Now (1-2 hour delivery), Amazon is creating more convenience and greater selection for shoppers, which enhances the value proposition,” RBC Capital’s Mark Mahaney wrote in a note published Thursday. “The gap between same day delivery customers and other Amazon customers widened across all four categories — spend, purchase frequency, intent of spend, and satisfaction.”

The results are largely consistent with RBC’s surveys from the past four years, although the percentages of people who say they will spend more and shop more often have increased slightly, while customer satisfaction has trended downward.

Here are the survey results (click to enlarge):


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: eugene kim
Keywords: news, cnbc, companies, shipping, sameday, oneday, customers, survey, delivery, shoppers, dont, shop, spend, amazon


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One of Amazon’s biggest bulls explains four risks that could cause the ‘demise’ of the company

Trump says US will impose 5% tariff on all Mexican imports from…Duties of up to 25% will be added if Mexico does not substantially stop the “illegal inflow of aliens” entering the U.S., the White House said Thursday. Traderead more


Trump says US will impose 5% tariff on all Mexican imports from…Duties of up to 25% will be added if Mexico does not substantially stop the “illegal inflow of aliens” entering the U.S., the White House said Thursday. Traderead more
One of Amazon’s biggest bulls explains four risks that could cause the ‘demise’ of the company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: eugene kim
Keywords: news, cnbc, companies, inflow, bulls, cause, substantially, mexico, stop, risks, amazons, company, demise, white, trump, mexican, explains, impose, thursdaytraderead, tariff, biggest


One of Amazon's biggest bulls explains four risks that could cause the 'demise' of the company

Trump says US will impose 5% tariff on all Mexican imports from…

Duties of up to 25% will be added if Mexico does not substantially stop the “illegal inflow of aliens” entering the U.S., the White House said Thursday.

Trade

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Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: eugene kim
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Amazon’s shareholder meeting turns testy as investors demand action on climate crisis and diversity

Amazon’s annual shareholder meeting on Thursday turned hostile as shareholders demanded change on a number of issues, ranging from renewable energy use to equal pay. Dozens of shareholders, including current employees, joined the meeting in Seattle, presenting their case in over 12 different proposals. They included demands that the company take action on climate change through energy use, as well as improving diversity and pay equality in its workforce. Emily Cunningham, an Amazon employee who


Amazon’s annual shareholder meeting on Thursday turned hostile as shareholders demanded change on a number of issues, ranging from renewable energy use to equal pay. Dozens of shareholders, including current employees, joined the meeting in Seattle, presenting their case in over 12 different proposals. They included demands that the company take action on climate change through energy use, as well as improving diversity and pay equality in its workforce. Emily Cunningham, an Amazon employee who
Amazon’s shareholder meeting turns testy as investors demand action on climate crisis and diversity Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: eugene kim paayal zaveri, eugene kim, paayal zaveri
Keywords: news, cnbc, companies, diversity, meeting, demand, amazons, change, annual, shareholders, turns, testy, investors, crisis, asked, shareholder, bezos, energy, climate, amazon, presentation


Amazon's shareholder meeting turns testy as investors demand action on climate crisis and diversity

Amazon’s annual shareholder meeting on Thursday turned hostile as shareholders demanded change on a number of issues, ranging from renewable energy use to equal pay.

Dozens of shareholders, including current employees, joined the meeting in Seattle, presenting their case in over 12 different proposals. They included demands that the company take action on climate change through energy use, as well as improving diversity and pay equality in its workforce. Two of the resolutions asked for Amazon to stop the sale of its facial recognition software to government agencies, which the backers say raises concerns of racial bias and discrimination.

While large companies often face dissent among investors at their annual meetings, Amazon is in a particularly sensitive spot because of its growing size, influence and CEO Jeff Bezos’s incredible wealth – he passed Bill Gates in 2017 to become the world’s richest person. Amazon is facing pressure among policymakers, regulators and activists for how it pays and treats warehouse workers, how it collects consumer data and promotes products and how it uses artificial intelligence.

Emily Cunningham, an Amazon employee who led the climate change initiative, asked Bezos to come out on stage to listen to her presentation. Bezos did not appear until later when he took questions from the crowd. Roughly 50 people in the room, however, stood up during her presentation in support of her resolution asking Amazon to reduce its use of fossil fuels.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: eugene kim paayal zaveri, eugene kim, paayal zaveri
Keywords: news, cnbc, companies, diversity, meeting, demand, amazons, change, annual, shareholders, turns, testy, investors, crisis, asked, shareholder, bezos, energy, climate, amazon, presentation


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At all-hands meeting Jeff Bezos tells employees he’s ‘very excited’ about the auto industry

At an all-hands staff meeting in March, Amazon CEO Jeff Bezos told employees that he’s fascinated by the recent developments in the auto industry, adding that it was one of the main reasons why Amazon led a $700 million investment in electric vehicle start-up Rivian in February. “If you think about the auto industry right now, there’s so many things going on with Uber-ization, electrification, the connected car — so it’s a fascinating industry,” Bezos said according to a recording of the meeting


At an all-hands staff meeting in March, Amazon CEO Jeff Bezos told employees that he’s fascinated by the recent developments in the auto industry, adding that it was one of the main reasons why Amazon led a $700 million investment in electric vehicle start-up Rivian in February. “If you think about the auto industry right now, there’s so many things going on with Uber-ization, electrification, the connected car — so it’s a fascinating industry,” Bezos said according to a recording of the meeting
At all-hands meeting Jeff Bezos tells employees he’s ‘very excited’ about the auto industry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eugene kim
Keywords: news, cnbc, companies, hes, employees, auto, bezos, tells, billion, excited, industry, jeff, allhands, startup, selfdriving, meeting, amazon, investments, million, tech


At all-hands meeting Jeff Bezos tells employees he's 'very excited' about the auto industry

Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019.

At an all-hands staff meeting in March, Amazon CEO Jeff Bezos told employees that he’s fascinated by the recent developments in the auto industry, adding that it was one of the main reasons why Amazon led a $700 million investment in electric vehicle start-up Rivian in February.

“If you think about the auto industry right now, there’s so many things going on with Uber-ization, electrification, the connected car — so it’s a fascinating industry,” Bezos said according to a recording of the meeting CNBC has heard. “It’s going to be something very interesting to watch and participate in, and I’m very excited about that whole industry.”

Bezos’ comments give a rare glimpse into his interest in the auto industry, which Amazon entered in February through its investments in Rivian and another self-driving tech start-up, Aurora. Investing in autonomous technology could eventually help Amazon offer faster and cheaper delivery, as well as automation in other areas, like its cashier-free grocery stores.

Rivian is best known for its electric trucks and has raised $1.4 billion in funding so far, including $500 million from Ford in April. Aurora, a self-driving tech start-up run by former Uber, Google and Tesla executives, is now reportedly worth more than $2 billion following its $530 million funding round in February.

Following those two investments, Amazon’s ownership stake in private companies shot up to almost $1.4 billion last quarter, marking the first time it crossed the $1 billion mark since disclosing that figure in 2015. That’s up by almost $1 billion from the previous quarter, and roughly five times more than what it owned just two years ago, filings show.

Amazon doesn’t break out individual investment amounts, but discloses the total value of its equity and equity warrant investments in both public and private companies.

Amazon did not respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eugene kim
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Amazon just launched a lending service in China while shuttering its local marketplace

Amazon may be closing its marketplace in China, but it’s still aggressively pursuing growth in the country with a new lending service that could help bolster its sprawling seller community there. Amazon picks and connects prequalified sellers with a local lender in China, offering short-term loans to help the sellers purchase inventory and expand their business. “The Lending Referral Program is a new program by Amazon Lending,” the post said. “Under this program you may be extended offers to app


Amazon may be closing its marketplace in China, but it’s still aggressively pursuing growth in the country with a new lending service that could help bolster its sprawling seller community there. Amazon picks and connects prequalified sellers with a local lender in China, offering short-term loans to help the sellers purchase inventory and expand their business. “The Lending Referral Program is a new program by Amazon Lending,” the post said. “Under this program you may be extended offers to app
Amazon just launched a lending service in China while shuttering its local marketplace Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: eugene kim, rex curry
Keywords: news, cnbc, companies, seller, chinese, lending, post, service, amazon, marketplace, launched, local, china, program, sellers, shuttering


Amazon just launched a lending service in China while shuttering its local marketplace

Amazon may be closing its marketplace in China, but it’s still aggressively pursuing growth in the country with a new lending service that could help bolster its sprawling seller community there.

The program is called Lending Referral Program, according to a post in Amazon’s sellers forum, which is only open to merchants doing business on the site. Screenshots of the post were viewed by CNBC. Amazon picks and connects prequalified sellers with a local lender in China, offering short-term loans to help the sellers purchase inventory and expand their business.

“The Lending Referral Program is a new program by Amazon Lending,” the post said. “Under this program you may be extended offers to apply for loans provided by local Chinese lenders to grow your business on Amazon.”

Amazon’s new loan service is the company’s latest initiative in China, after announcing the closure of its marketplace there last month. Instead of targeting Chinese consumers, the lending program is aimed at growing the number of China-based merchants who sell directly to Amazon consumers in the U.S. and the rest of the world, as Chinese sellers now account for a significant share of Amazon’s global marketplace sales.

“If Amazon wants to build a bigger seller ecosystem in China — and grow its worldwide marketplace — providing working capital is a key factor,” said Don Zhao, co-founder of Azoya, a company that helps e-commerce businesses in China.


Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: eugene kim, rex curry
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Amazon can already ship to 72% of US population within a day, this map shows

A closer look at Amazon’s delivery network illustrates why the company is now ready to make one-day shipping the default for its Prime members. Amazon is already capable of offering same-day and next-day delivery to 72% of the total U.S. population, including almost all of the households (95% or more) in 16 of the wealthiest and most populated states and Washington, D.C., according to a report published in March by RBC Capital Markets. The vast delivery network is the result of significant inves


A closer look at Amazon’s delivery network illustrates why the company is now ready to make one-day shipping the default for its Prime members. Amazon is already capable of offering same-day and next-day delivery to 72% of the total U.S. population, including almost all of the households (95% or more) in 16 of the wealthiest and most populated states and Washington, D.C., according to a report published in March by RBC Capital Markets. The vast delivery network is the result of significant inves
Amazon can already ship to 72% of US population within a day, this map shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-05  Authors: eugene kim
Keywords: news, cnbc, companies, map, rbc, washington, shows, ship, wealthiest, delivery, total, day, vast, population, network, tripling, 72, amazon, states


Amazon can already ship to 72% of US population within a day, this map shows

A closer look at Amazon’s delivery network illustrates why the company is now ready to make one-day shipping the default for its Prime members.

Amazon is already capable of offering same-day and next-day delivery to 72% of the total U.S. population, including almost all of the households (95% or more) in 16 of the wealthiest and most populated states and Washington, D.C., according to a report published in March by RBC Capital Markets.

The vast delivery network is the result of significant investments over the past four years, a period during which Amazon built out fulfillment centers across the country, nearly tripling its U.S. logistics infrastructure, RBC said. Amazon has added roughly double the amount of distribution space Home Depot currently owns.


Company: cnbc, Activity: cnbc, Date: 2019-05-05  Authors: eugene kim
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Amazon launches new Middle East marketplace, and rebrands Souq, the company it bought for $580 million in 2017

Editor’s Note: Updates have been made throughout this story to correctly report that Amazon is not shutting down Souq. Amazon launched a new Middle East marketplace on Tuesday, two years after buying the Dubai-based e-commerce company Souq.com for $580 million. “We are proud to announce that we are now Amazon.ae,” Amazon wrote in a letter posted on the new Middle East marketplace. The launch of the new Middle East marketplace, which was first reported by CNBC in January, comes at a time of slowi


Editor’s Note: Updates have been made throughout this story to correctly report that Amazon is not shutting down Souq. Amazon launched a new Middle East marketplace on Tuesday, two years after buying the Dubai-based e-commerce company Souq.com for $580 million. “We are proud to announce that we are now Amazon.ae,” Amazon wrote in a letter posted on the new Middle East marketplace. The launch of the new Middle East marketplace, which was first reported by CNBC in January, comes at a time of slowi
Amazon launches new Middle East marketplace, and rebrands Souq, the company it bought for $580 million in 2017 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: eugene kim
Keywords: news, cnbc, companies, rebrands, million, launches, marketplace, souq, east, saudi, amazons, sales, company, bought, amazon, service, souqcom, amazonae, middle


Amazon launches new Middle East marketplace, and rebrands Souq, the company it bought for $580 million in 2017

Editor’s Note: Updates have been made throughout this story to correctly report that Amazon is not shutting down Souq. Rather, the brand is still available in Saudi Arabia and Egypt.

Amazon launched a new Middle East marketplace on Tuesday, two years after buying the Dubai-based e-commerce company Souq.com for $580 million.

With the launch, Amazon said Souq.com will be rebranded to Amazon.ae. The Souq.com URL now automatically takes you to Amazon.ae. But Souq remains available in Saudi Arabia and Egypt.

“We are proud to announce that we are now Amazon.ae,” Amazon wrote in a letter posted on the new Middle East marketplace.

The launch of the new Middle East marketplace, which was first reported by CNBC in January, comes at a time of slowing international sales for Amazon. In its most recent quarter, Amazon’s international sales only grew 9% from a year ago to $16.2 billion.

The change gives Amazon’s Middle East service a more unified look and brand in the region. Until now, Amazon’s only presence in the region was through Souq, which it acquired in 2017. It also comes with the same seller back-end system used in the U.S., and access to Fulfillment by Amazon (FBA), the company’s storage and shipping service, according to multiple sellers.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: eugene kim
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Amazon has been quietly running an ‘Uber for trucking’ service since last year

But it also signals Amazon’s first foray into the freight brokerage space, which includes major competitors like Uber Freight, C.H. There are only “hundreds” of carriers currently using the service, as Amazon only allows approved trucking partners to participate in the program, these people said. This service, intended to better utilize our freight network, has been around in various forms for quite some time.” Uber Freight, a similar freight brokerage service, officially launched in the U.S. in


But it also signals Amazon’s first foray into the freight brokerage space, which includes major competitors like Uber Freight, C.H. There are only “hundreds” of carriers currently using the service, as Amazon only allows approved trucking partners to participate in the program, these people said. This service, intended to better utilize our freight network, has been around in various forms for quite some time.” Uber Freight, a similar freight brokerage service, officially launched in the U.S. in
Amazon has been quietly running an ‘Uber for trucking’ service since last year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: eugene kim
Keywords: news, cnbc, companies, according, shippers, uber, freight, brokerage, truck, running, quietly, amazon, service, network, launched, trucking


Amazon has been quietly running an 'Uber for trucking' service since last year

A truck pulling an Amazon Prime branded cargo container waits beside the entrance gate at Amazon.com Inc.’s new fulfillment center in Kolbaskowo, Poland, on Friday, Feb. 16, 2018.

Amazon has been testing a new online service that matches truck drivers with shippers since last year, taking its first step into the lucrative online freight brokerage space, according to two people familiar with the service.

The launch of an online freight service helps Amazon better manage its existing network of carriers and expedite the cargo matching process, which remains highly inefficient with most work still being handled over the phone or by fax. But it also signals Amazon’s first foray into the freight brokerage space, which includes major competitors like Uber Freight, C.H. Robinson and XPO Logistics.

The freight.amazon.com website, which launched in 2018, allows shippers to get instant quotes on the packages they want to ship between warehouses. The service is currently in beta, and is only available for shipments between warehouses in five states — Connecticut, Maryland, New Jersey, New York and Pennsylvania — according to Amazon’s freight service website.

There are only “hundreds” of carriers currently using the service, as Amazon only allows approved trucking partners to participate in the program, these people said.

Once the requested shipment is accepted by a trucking company, details of the shipment are shared through a separate mobile app called Relay, these people said. Relay, which launched in 2017, is for truck drivers to receive additional freight information, like shipment and route tracking, as well as expedited check-in procedures at the warehouse.

In a statement to CNBC, Amazon’s representative confirmed the existence of the service, saying: “We work with many line-haul service providers in our transportation network and have long utilized them to carry loads for Amazon. This service, intended to better utilize our freight network, has been around in various forms for quite some time.”

Amazon promotes the service as a way for shippers to get easy access to its large carrier network. On its website, Amazon says, “tap into the scale of Amazon as we extend our carrier network to give you best-in-class service at great rates.”

That officially makes Amazon a freight broker that helps match shippers to trucking carriers. On the site, Amazon says it’s a licensed “freight broker.”

Uber Freight, a similar freight brokerage service, officially launched in the U.S. in 2017 and generated more than $125 million in revenue last quarter, according to Uber’s recent IPO filing. C.H. Robinson, one of the largest logistics and freight brokerage companies in the world, booked more than $16 billion in revenue in 2018.

Overall, the freight brokerage market was worth $72 billion in the U.S. in 2017, according to Uber’s filing, which cites market research firm Armstrong & Associates. It also says companies spent a total of $700 billion on trucking in the U.S. in 2017.

Amazon often launches new services without a public notice to test them before expanding more aggressively. For example, the company has hundreds of private-label brands, almost all of which launched without big public announcements.

WATCH: Uber Freight lowering trucking costs after just 20 months, says head of division


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: eugene kim
Keywords: news, cnbc, companies, according, shippers, uber, freight, brokerage, truck, running, quietly, amazon, service, network, launched, trucking


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