Amazon ran a sting to root out counterfeit textbooks, but some small sellers were unfairly targeted [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Paul Souders | Hulton Archive | Getty Images Amazon founder and CEO Jeff Bezos in 1997 Amazon upended the book industry more than two decades ago by bringing sales onto the web. Now, during the heart of the holiday shopping season, the company is wreaking havoc on used booksellers who have come to rely on Amazon for customers. In the past two weeks, Amazon has suspended at least 20 used book merchants for allegedly selling one or more counterfeit textbooks. They all received the same generic email from Amazon informing them that their account had been temporarily deactivated and reminding them that the sale of counterfeit products on Amazon is strictly prohibited. Booksellers are among the millions of Amazon's third-party sellers, a segment that's now responsible for over half of the company's e-commerce volume. The fees Amazon charges those sellers for shipping, fulfillment and other services accounted for over $10 billion of revenue in the
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CMCSA
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- 4/25/24 - Beat
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Sec Filings
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/17/24 - Form 4
- CMCSA's page on the SEC website