Tags: Amazon | Worth | Twice | Wal-Mart

Recode: Amazon Now Worth Twice as Much as Wal-Mart

Image: Recode: Amazon Now Worth Twice as Much as Wal-Mart

By    |   Monday, 15 May 2017 01:28 PM

It took Amazon 18 years as a public company to catch Wal-Mart Stores in market value, but it took less than another two years for Amazon to be worth twice as much.

On the 20th anniversary of its IPO, Amazon’s market capitalization stands at $459 billion while retail rival Walmart’s is at about $228 billion, Recode reported.

Meanwhile, AFP reports that Wal-Mart, the 800-pound gorilla of retail, is running hard to catch up in an increasingly crucial segment where it is neither the biggest nor the best: e-commerce.

The company, founded in 1962 by Sam Walton, has been gobbling up smaller and niche players in e-commerce in an effort to reach online shopping market leader Amazon.

Whether those efforts are paying off will be a focal point when Wal-Mart Stores reports quarterly earnings on Thursday.

A bit more than half of all funds spent online in the United States now goes to Amazon, according to the bank Macquarie.

Part of Amazon's success stems from its breadth of offerings, which includes the Kindle that people use for reading and the Prime service that broadcasts popular television shows, said Krista Fabregas, e-commerce staff writer at FitSmallBusiness.com.

"It's because Amazon has been doing such a great job at injecting itself into our everyday life," she told AFP.

"Wal-Mart is not part of everyday life, nor is Macy's, nor is Gap, nor the other stores. We don't have a connection with any of them throughout the day."

(Newsmax wire services and Reuters and Bloomberg contributed to this report).

© 2017 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
StreetTalk
It took Amazon 18 years as a public company to catch Wal-Mart Stores in market value, but it took less than another two years for Amazon to be worth twice as much.
Amazon, Worth, Twice, Wal-Mart
254
2017-28-15
Monday, 15 May 2017 01:28 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved