A business Amazon launched a year ago has already generated $1 billion of revenue
Devan Joseph
Amazon Business wasn't exactly a started-from-scratch new unit, as Venture Beat reported at the time.
It launched at the end of April, 2015 and replaced a service called AmazonSupply that had been around since 2012. AmazonSuppy was a marketplace that focused more on industrial products and office supplies. It was Amazon's first attempt to get into the market occupied by warehouse retailers.
Amazon Business is run by Prentis Wilson who also ran AmazonSuppy. Wilson came to Amazon after working as a buyer for Cisco.
The revised Amazon Business expanded the scope of the stuff for sale. As Amazon describes it, it offers "hundreds of millions of products - everything from IT and lab equipment to education and food service supplies" that businesses can buy for special prices.
It also enlisted manufacturers and distributors to sell their stuff directly to Amazon customers. Amazon said that 30,000 third-party sellers have participated and have fulfilled over half of the Amazon Business orders.
All this to say that Amazon Business may have had a bit of head start in reaching $1 billion in its first year but, even so, it looks like Amazon has another hit on its hands.
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- BenQ Zowie XL2546X review – Monitor for the serious gamers
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market