Jeff Bezos Steps Down, Andy Jassy Is the New Amazon Boss

Amazon founder Jeff Bezos is stepping down as chief executive of the e-commerce and tech giant, elevating Andy Jassy, former head of the company’s web division, to the CEO position, making it one of the most high-profile executive swaps in years. But behind the scenes, more change has roiled the company with numerous executives departing in the last 18 months, many after working there for years. That’s unusual because many of Amazon’s top staffers started with the company in its earliest days, became wealthy via stock, and were considered loyal lifers. Continue reading Jeff Bezos Steps Down, Andy Jassy Is the New Amazon Boss

Amazon Founder Jeff Bezos Will Step Down as CEO on July 5

Amazon founder Jeff Bezos will officially leave his position as chief executive on July 5, and Amazon Web Services chief executive Andy Jassy will take over the Amazon CEO position. The departure of Bezos was originally announced in a February earnings report but a specific date was not revealed. Bezos said July 5 is “sentimental” because it was the date Amazon was incorporated in 1994. Bezos will become executive chair, focusing his attention on “new products and early initiatives.” He said he expects Jassy to be “an outstanding leader.” Continue reading Amazon Founder Jeff Bezos Will Step Down as CEO on July 5

Amazon’s Jeff Bezos Steps Down After 26 Years at the Helm

Amazon chief executive Jeff Bezos is stepping down from the role he has held since he started the Big Tech company 26 years ago and will assume the role of executive chairman. Amazon Web Services head Andy Jassy will replace Bezos as Amazon’s new chief executive. Bezos hands over the reins during a time in which COVID-19 has helped the company achieve record-breaking sales, while it also faces regulatory and legal investigations. Personally, he vies with Tesla chief executive Elon Musk as the world’s wealthiest person. Continue reading Amazon’s Jeff Bezos Steps Down After 26 Years at the Helm

Amazon Exceeds $100 Billion in Quarterly Sales for First Time

Amazon’s robust holiday shopping quarter garnered $125.5 billion in sales and net income of $7.2 billion, the first time the company reached $100+ billion in quarterly revenue, and only days after Apple achieved the same milestone. Amazon amped up sales when it moved its two-day Prime Day shopping event from summer to October. The company’s overall 2020 sales hit $386.1 billion, a 38-percent year-over-year jump. According to analysts, e-commerce grew about 50 percent during the last year due to the coronavirus pandemic. Continue reading Amazon Exceeds $100 Billion in Quarterly Sales for First Time

Facebook Uses Mapping Tech in Effort to Connect the World

Facebook developed mapping technology that has allowed it to create a data map of the human population in 23 countries so far. The map can zero in on any man-made structure as close as five meters, in any country on earth. Facebook says it is using the data to understand how humans are distributed around the planet, and thus be able to determine the best way to provide them with Internet access, via land, air or space. The goal is to create a “multi-pronged” Internet network to serve under-connected populations. Continue reading Facebook Uses Mapping Tech in Effort to Connect the World

SpaceX Closer to Space Travel with Successful Rocket Mission

In a first, Space Exploration Technologies Corporation (SpaceX) successfully sent a rocket into space and then back to earth, where it landed, standing and in one piece, near the launch site in Florida. For SpaceX chief executive Elon Musk, the success marks another major step towards the ultimate goal of sending people to Mars. This is the company’s first flight in half a year; its last rocket launch, carrying supplies to the International Space Station, ended in the rocket’s complete destruction. Continue reading SpaceX Closer to Space Travel with Successful Rocket Mission