Apple and the United States are due in a New York courtroom on Monday for the first day of the government’s antitrust lawsuit, which accuses Apple and some of the world’s largest publishers of colluding to set prices on e-books.
NASHVILLE: Amazon turns 20 on Thursday. Here's a timeline of 20 investment bets Amazon made in the past 20 years: 1995: Amazon opens its virtual doors as an online bookseller. Late 1990s: Amazon invests in startups like Pets.com and kozmo.com that promised to change the way people bought pet food and ordered delivery items. But they both went bust shortly after the bubble burst in 2000, causing Amazon to lay off some staff and scale back elsewhere. 1999: The company launches Amazon Auctions, a separate site that resembled eBay's auction sites, which did not succeed.
The book business launched Amazon to success, and now it’s hurting the online retailer’s growth.
Amazon announced its worst quarterly loss in 14 years Thursday, losing $437 million in three months. One of its worst-performing segments? Amazon’s old core business: North American book, movie and music sales. The segment’s sales increased a mere 4.8% from 2013, the slowest growth for the category in more than five years. That compares with a 17.8% growth in that segment a year ago.