Amazon Web Services, the e-commerce giant’s cloud computing unit, is cutting hundreds of jobs, including “a few hundred” in its Physical Stores Technology team, the company said Wednesday.
From payments to lending to insurance to checking accounts, Amazon is attacking financial services from every angle without applying to be a conventional bank. In this report, we break down everything we know about Amazon’s foray into financial services, and where it's rumored to be looking next.
In 2017, Andreessen Horowitz general partner Alex Rampell said that of all the tech giants that could make a major move in financial services:
Since 1999, Amazon's disruptive bravado has made “getting Amazoned” a fear for executives in any sector the tech giant sets its sights on. Here are the industries that could be under threat next.
Jeff Bezos once famously said, “Your margin is my opportunity.” Today, Amazon is finding opportunities in industries that would have been unthinkable for the company to attack even a few years ago.
Amazon is entering the student loan business in a partnership with Wells Fargo & Co, the companies announced Thursday.
The deal calls for Wells Fargo to shave half a percentage point from its interest rate on student loans to Amazon customers who pay for a “Prime Student” subscription, which provides benefits such as free two-day shipping and access to movies, television shows and photo storage.
