Word: amazon
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Dates: during 1990-1999
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With its own auction launch, Amazon continues its mutation from bookseller to e-tailer nonpareil. The auction area is carrying tens of thousands of items, including a signed copy of Hem-ingway's A Farewell to Arms--Amazon will, of course, be strong in rare books. "Our vision is to build a place to find and discover anything our customers might want to buy...[including] car parts and spark plugs," says Bezos, whose firm's ever inflating stock price jumped an additional 15% on the news. Says Larry Schwartz, president of rival Auction Universe: "It's kind of frightening--they...
...really blame them? Each month, some 6 million visitors flock to eBay's sprawling virtual tag sale, according to research firm Media Metrix, right behind Amazon's 8 million. A third of those browsers regularly bid on or sell a selection of nearly 2 million items, including computers, Ginsu knives, baseball cards and model trains, generating about $300 million in total transactions during the fourth quarter of fiscal 1998. "There's a constant trade show going on," says Steve Karas, of New York, who auctions sports cards on the site. By taking a 1.25%-to-5% cut on each...
...quarterly number or see their stock price sacrificed to the earnings gods. What this country really needed, said the pundits and business professors, was a group of CEOs who had the guts to go long. Now, at (long) last, a new generation of managers, like Jeff Bezos of Amazon and Tim Koogle of Yahoo, Steve Case of America Online and Tom Jermoluk from @Home, has emerged to do exactly that, through aggressive acquisition strategies, massive infrastructure spending and expansion at a clip that would make old-line companies get motion sickness. These young chieftains have shown a true disdain...
These newbies, who have seen the 20- and 30-fold moves of stocks like Amazon and Yahoo, think the danger lies in sitting out these moves in the Pepsis and Mercks. And who is to blame them? Lately I have come to wonder whether the risk-reward parameters I cut my teeth on are as out of date as those of my parents' generation, which saw utilities as safe, conservative growth vehicles that would leave hefty rewards for their children. They didn't. At what point, after how many new fortunes, can we proclaim the old paradigm of stock risk...
...express purpose of duplicating its prized information database--a vast system that tracks customer shopping patterns and product flow. "There's a lot of computer talent out in the Valley," notes Wal-Mart spokeswoman Betsy Reithemeyer. "If you're coming to Bentonville, you're looking for something specific." Amazon has filed a countersuit denying the accusations. The company says it was just looking for talented people...