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The Money Just Flows, As Bezos Launches Video Service

Amazon is taking on Google with a YouTube-style video service allowing its customers to post clips and access online video. Anyone with an Amazon account can upload videos they have made or to which they own the rights onto the company’s Video Direct service.

The videos can be free to view, with providers taking a cut of ad revenue.

One analyst this week raised his Amazon.com stock price target to $1000, a 47 percent climb from at $703.07 on Tuesday.

Carlos Kirjner of Sanford Bernstein sees few obstacles in the company’s way, although there might be an unusual one: having too much money.

“We think Amazon’s businesses are now so large, fast-growing and profitable that it is harder and harder for the company to find new areas of investment to keep up with the growth in gross profits,” he wrote.

The personal fortune of Amazon.com founder Jeff Bezos topped US$60 billion on Tuesday, after the online retailer’s shares closed at $703.07, an all-time high.

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