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Bezos Says Third-party Amazon Sellers Are “Kicking Our Butt”

“t’s not often you see a CEO so sanguine about an ass whooping. “Something strange and remarkable has happened over the last 20 years,” Amazon’s Jeff Bezos said in his annual letter to shareholders . “Third-party sales have grown from 3% of the total to 58%. To put it bluntly: Third-party sellers are kicking our […]
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Companies

Amazon Hit by Extensive Fraud With Hackers Siphoning Merchant Funds

“Amazon.com Inc. said it was hit by an “extensive” fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year.    Amazon believes it was the victim of a “serious” online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales […]
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