Amazon Says Business Sales Reach $10 Billion Annualized Rate
Amazon said sales from its business-to-business platform hit an annualized rate of $10 billion globally, according to Bloomberg.
The internet giant launched Amazon Business in the U.S. in 2015 and reached $1 billion in sales a year later. It now operates in eight countries, including Germany, Japan and India. In the U.S., customers include large schools and hospitals, more than half of all Fortune 100 companies as well as local governments.
The marketplace offers hundreds of millions of products from hundreds of thousands of merchants who pay Amazon a commission on each sale, the company said in a blog post. Amazon’s foray into the business-to-business market challengers. By 2020, 12.1 percent of that $9.39 trillion market will be online, according to Forrester Research.