Amazon is closing down the operations of its Quidsi unit which runs websites such as diapers.com and soap.com. The reason behind the closure is a lack of profitability. Quidsi was bought by Amazon for $500 million in 2010. Quidsi ran others sites such as Casa.com which dealt with … [Read more...]
Jeff Bezos Made ‘Billions of Dollars of Failures’
This year, online retail juggernaut Amazon (NASDAQ:AMZN) released its much anticipated Fire Phone. The company had high hopes for the smartphone, including CEO Jeff Bezos. Unfortunately for the corporation, it is now considered one of the biggest blunders coming out of Seattle, … [Read more...]
Amazon Reports First Quarterly Loss in Five Years
Amazon stock sank today after the company posted its first quarterly loss since 2003. It was no small stumble, either. The Seattle-based company reported a loss of $274 million. The 60-cents-per-share loss greatly exceeded the 8-cents-per-share loss Thomson Reuters analysts had … [Read more...]
