E-commerce giant Amazon has become a more active corporate investor and for the first time has amassed an investment portfolio worth US$1 billion.
As of Q2, Amazon owned $1 billion worth of stock in public and private companies, up 60 percent from the year-ago period’s $623 million and a 163 percent increase from the $380 million it disclosed in the same quarter of 2016.
The growth in Amazon’s investment portfolio is the latest sign of the e-commerce giant becoming more aggressive with external investments. The change comes as the company has become more profitable and cash-rich.
Amazon is worth more than $900 billion and holds $130 billion worth of assets, meaning the investment value is less than one percent of its total business.
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