Jeff Bezos knows there are powerful Washington politicians who consider his digital commerce platform a monopoly and so wants them to know that Amazon is getting trounced by third-party sellers on its platform, reported GeekWire.
According to the Washington Post, that is the takeaway from the Amazon CEO and founder’s new letter to shareholders, released Thursday morning, April 11, along with the company’s proxy statement. It’s an annual tradition that this year seems directed as much to would-be antitrust regulators as it is to the company’s investors.
Bezos starts the letter with a two-decade chronology showing of the share of physical gross merchandise sales on Amazon by third-party sellers, a.k.a. the Amazon Marketplace business that is one of the targets of Senator Elizabeth Warren’s proposal to break up big tech companies. That share of sales has risen from 3% in 1999 to 58% in 2018, Bezos writes in the letter.
“To put it bluntly: Third-party sellers are kicking our first party butt. Badly,” he writes. “And it’s a high bar too because our first-party business has grown dramatically over that period, from $1.6 billion in 1999 to $117 billion this past year.”
Full Content: Washington Examiner, Geek Wire
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Lawmaker Probes FTC and EU’s Role in Amazon’s Failed iRobot Acquisition
May 2, 2024 by
CPI
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Healthcare Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI