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Amazon's Bezos Says Company has reached 100 million prime members



Chief Executive Officer of Amazon.com Inc. Jeff Bezos said the ecommerce giant has exceeded 100 million paid Prime subscribers and will continue to invest to meet "ever-increasing" customer expectations.

Milestone in his annual shareholder letter, released Wednesday. The letter is the founder's opportunity to underscore his long-term strategy for investors to bolster his confidence as he continues to raise Amazon's money for international expansion, building a presence and inventing new products such as Echo Speakers and the Alexa voice-activated digital assistant

Bezos cited Amazon's consistently high score on independent surveys, including the US Customer Satisfaction Index, as evidence that the company continues to see new ways to satisfy customers and give them new things that they did not want to see

"You can not rest on your laurels in this world," he wrote. "Customers will not have it."

The CEO also said that in 201

7, Amazon shipped more than 5 billion items worldwide with Prime and more new members were added to Prime than in any previous year. He added that 2017 is the best year for hardware sales and that the company will continue to invest aggressively to expand its customer base, brand and infrastructure.

Amazon shares rose 1.5 percent after the letter was published.

Investors are not being drawn to Amazon for its profits. The company's margins have dropped more than 2 percent since 2011. Instead, they are investing in Bezos' ability to open up new markets and find new revenue streams that have risen 31 percent to $ 178 billion over the past year. The Amazon stock rose nearly 70 percent last year, nearly five times the standard & Poor's 500 index.

Amazon has a big lead in cloud computing, a profitable and fast growing market. It is building an advertising business to take advantage of its web traffic. And the Seattle-based company is committed to making the voice-driven Alexa platform the next wave of human-device interaction, complementing the computer mouse and touch-screen interfaces.


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