Ever since it became fashionable to trash Groupon (and it has become VERY fashionable), the response from the company's supporters has been that it's "the next Amazon."
Amazon was subjected to the same knee-jerk skepticism and hate for much of the late 1990s, Groupon supporters point out.
Amazon.com announces a new venture nearly every day: the purchase of an online education company, the development of a payment mechanism to compete with PayPal, updates to its tablet line, a fashion design competition, three new comedy pilots. But one thing it will not announce this month, David Streitfeld reports , is a significant profit.
After reporting both a top and bottom miss , Amazon fell 10.32 percent in after-hours trading. The company had ended the day at$403.01 and is now trading at$361.41. As a company, Amazon is valued by investors on the strength or weakness of its revenue growth. Amazon’s current share count is 457.73 million . At a per-share loss of$41.
Amazon announced their Q3 2013 earnings today, and results are mixed. A huge jump in net sales helped the online retailer make an impact and bottleneck losses, but they’re still there. Though not as bad as in previous quarters, Amazon still takes a hit on their bottom line.With a reported net sales figure of %17.09 billion, you’d expect Amazon would be on easy street.
Amazon earnings are out! Here's the score: Revenue: $25.59 billion vs. $26.06 billion (Wall Street estimate) EPS: $0.51 vs. $0.66 (Wall Street estimate) Profit: $239 million The stock is down after hours as much as 10.9% after the miss on EPS. However, sales are very impressive, up 20% from the year-ago quarter. It was Amazon's best-ever holiday quarter.
Last week, news broke that a ~2.5 year old company called Snapchat had rejected an all-cash $3 billion takeover offer from FacebookPredictably, the cat-calls and howls of indignation began.Snapchat and its investors were obviously delusional idiots, Twitter pundits agreed. And arrogant! How else could they pass on a crazy offer from a "desperate" Facebook? Snapchat doesn't even have revenue. Even a one billion dollar offer for a company like that was "insane," let alone a three billion-dollar offer. If anyone needed confirmation that we're right back in a "tech bubble," this was it.Well, as we pointed out last week, this insta-consensus around startling valuations is nothing new in the tech world.
This chart showing Amazon's stock collapsing after it missed analysts' revenue expectations last week tells you why the company is considering raising the cost of Amazon Prime by $40, or roughly 50%, to as much as $119.
We’re rolling out our first big gun for IGNITION: Future of Digital , Business Insider's flagship event on December 1-3, and it’s a huge one: Amazon.com founder Jeff Bezos. If there’s a corner of the digital landscape Bezos and Amazon haven’t touched, we don’t know it. E-commerce, for sure: Amazon sells more than the next dozen competitors combined.
eBay CEO John Donahoe slammed Amazon's headline-grabbing plan to start delivering packages via drones , calling it a "long-term fantasy."Donahoe made the remarks to Bloomberg reporter Emily Chang, after she asked him whether eBay has any plans for delivery drones."We're not really focusing on long-term fantasies," Donahoe said. "We're focusing on things that will change consumers' experience today.""So you think it's a long-term fantasy?" Chang asked."We'll see," Donahoe said with a shrug.eBay posted revenues of $14.1 billion last year, while Amazon generated $61.1 billion.
Amazon's Jeff Bezos has usurped Elon Musk as "most interesting" dude in tech with his announcement of 30 minute drone deliveries, Kashmir Hill of Forbes points outBezos' announcement largely dominated the Internet news airwaves and subwaves, indicating to the masses that a world of airborne drones is all but upon us.There are key considerations that most people are missing though.
Today after the market close Amazon reported its fourth quarter financial performance , including revenue of $25.59billion, and earnings per share of $0.51. The company has operating income of$510 million in the period, up26 percent year over year.
It was perhaps inevitable that Amazon would have a rocky relationship with book publishers. Publishers are analog, Amazon is digital. Publishers are New York, Amazon is Seattle. The large publishers traditionally did not know much about their customers, and did not really care. Amazon knew a lot about customers and made the most of it.
Bezos is the kind of CEO who is very hands on: He has always had a grand vision for Amazon and he's known for micro-managing big projects that he's passionate about.Bezos has done all the major product announcements for the Kindle since the product launched in 2007, and we expected him to take the reins of this too, since it's such a huge move for Amazon.
When it comes to raking in the money on cloud computing Amazon still "dwarfs all competition," writes John Dinsdale, an analyst at market researcher Synergy in a new reportThe total cloud computing market hit $2.5 billion in revenue in Q3, up 46% the same quarter of 2012, Synergy found.
Groupon today made another move to build up one of its vertical marketplaces: today the company said it would add 20,000 more hotels to its Groupon Getaways travel portal. This is one step in a series, Groupon tells me: the next will be to integrate last-minute bookings from Blink, the HotelTonight competitor that Groupon acquired last year.
Forbes just released its annual billionaires list , which highlights the richest people all around the world. This year, WhatsApp co-founders Jan Koum and Brian Acton made the cut. But with net worths of $6.8 billion and $3 billion, respectively, they're not even close to the richest people in tech. Here are the top 15 richest tech billionaires in the world: Net Worth: $76 billion 2.
The distillation of one human life into a few hundred pages is a task herculean enough to trip up even seasoned biographers. Expanding that to include four co-founders and a company with as explosive a history as Twitter’s is begging for disaster.A new book called Hatching Twitter: A True Story Of Money, Power, Friendship and Betrayal, from New York Times reporter Nick Bilton attempts to do just that. It’s around 300 pages and packs in the nearly seven-year history of Twitter as a company and a bit more.
Amazon CEO Jeff Bezos took to 60 Minutes to reveal the company's latest delivery method: drones . In what is likely a cunning reminder of the e-tailer's upcoming Cyber Monday sales, these bots will apparently be capable of delivering packages up to five pounds (86 percent of orders are apparently less than that ), with the aim of getting them to your house in under half an hour.
Fresh from celebrating its fifth anniversary last week, Groupon today reported its Q3 earnings: it’s a mixed picture but shows that Groupon continues to make good on its commitment to take its business beyond the daily deals that are its bread and butter and into a wider marketplace for location-based and mobile commerce. Groupon reported revenues of $595.1 million with EPS of $0.