This week, American e-commerce giant Amazon Inc announced a series of new products and offerings as the company’s competition continuously grows.
Just earlier this week, Alibaba was able to overtake Amazon as the top e-commerce company briefly before the American company took back its spot later during Tuesday’s trading session. Alibaba’s market value reached $472.4 billion during Tuesday’s trading on the New York Stock Exchange as the stock hit an intraday high of $184.46. Amazon’s market value then was at around $470 billion.
Alibaba has been expanding its e-commerce platform in the past year as it continues to posts growth over the last couple of quarters. Alibaba which has come up with its own shopping application has grown considerably bigger over the past year. It has posted a growth of 80% year over year between this year and the previous year. Although Amazon is currently regarded as the leading e-commerce site, Alibaba has been noted recently to have been closely catching up with the American company.
Amazon Inc announced this week that it would start offering an Amazon Prime Student option which would be priced at $5.49 per month. The company also announced that a full-year student account would cost at $49 which happens to be fifty percent off the price of the regular Amazon Prime subscription in the United States.
The growing company whose shares have crossed the $1,000 level this year just announced last month its plans to open a second headquarter outside Seattle where the company is currently based. Cities such as Ottawa, Kansas, and Philadelphia has been listed by analysts as the possible location of the next headquarters while cities such as Wisconsin and Kansas along with their leaders have previously stated their desire to be chosen as the new headquarter location of the company.
After announcing new AI-powered devices a couple of months ago, Amazon has recently introduced a waterproof version of its popular Kindle e-reader. Although Amazon has not previously announced its sales for the Kindle devices, some have noted that the company’s sales for the e-reader have been positively well since the past couple of years with tens of millions already sold.
Along with Amazon’s many expansion efforts recently includes the closing of its Whole Foods acquisition that expanded their offerings into the grocery space. The acquisition also allowed Amazon to offer same-day delivery of grocery items to a number of areas to Amazon Prime members. Amazon’s stock then has been posted to rise by as much as 40% as its grocery offerings continue to rise during the next year.
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