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Bill Simon Proposes Amazon to Use Cloud and Advertising Profits to Support Retail



Walmart's former chief executive, Bill Simon, accused Amazon on Wednesday of supporting meager retail profits through cloud and advertising revenues.

Amazon, with a market In the last twelve months, shares rose more than 61

percent, as the company continues to run from older competitors.

The company recorded growth in both its cloud service and ad business in its final quarter, with revenues of $ 5.44 billion and $ 2.03 billion, respectively

Subscriptions Up 60 Percent to $ 3.1 Billion in the First Quarter

Walmart has decided to buy a piece of the fast-growing online market.

Earlier this month, Walmart agreed to pay $ 16 billion for a 77 percent stake in Flipkart, India's largest e-commerce company. India is considered an important retail battlefield.

Speaking at the Walmart and Amazon shareholder meetings this week, Simon wondered about Walmart's "expensive" journey into e-commerce, but welcomed the company's commitment to the Internet. 19659011]
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