Amazon's power in e-commerce and cloud computing is unlikely to be challenged anytime soon, antitrust report says
Amazon functions as “a gatekeeper for e-commerce,” exercising “significant and durable” market power in U.S. online retail, the House Judiciary Antitrust Subcommittee found after a 16-month investigation. The Seattle commerce giant’s power in online retail and cloud computing has grown during the pandemic and is unlikely to be challenged anytime soon, the panel found, serving to lock consumers and sellers into its platform.The subcommittee report, issued Tuesday afternoon by the Democratic lawmakers who control the subcommittee, also covers the outsize power of digital platform giants Apple, G...
The Seattle Times
E-commerce startup ShipBob gets $68 million to fund expansion
ShipBob, a Chicago-based e-commerce logistics company, raised $68 million to fund an expansion amid a pandemic-fueled boom in online shopping.The company aims to help businesses that are a fraction of Amazon’s size ship products to customers at similar speeds. It planned to nearly double its revenue year-over-year, but the pandemic forced it to grow even faster, said CEO Dhruv Saxena.Estimated U.S. e-commerce sales in the second quarter rose 44.5% compared with the same period last year, as overall retail sales fell 3.6%, according to the U.S. Census Bureau. While some sales may shift back to ...