Amazon CEO Jeff Bezos (Reed Saxon/AP Photo)
Amazon CEO Jeff Bezos (Reed Saxon/AP Photo)

NEW YORK (TheStreet) — Amazon is set to launch a local marketplace specifically for services later this year, according to Reuters. The online agora would expand Amazon’s existing third-party seller system to include local service providers. Amazon Local, the company’s existing Groupon lookalike, already offers some services; new service-oriented sellers, like carpenters and plumbers, will join them on this new marketplace.

Investors seem skeptical. Amazon stock is down roughly 16% year to date, closing at $335.20 on Thursday, off a 52-week high of $408.06.

Amazon’s focus has so far been on selling products. Now it is expanding more into services — diversifying its business so that product and service sales feed into one another.

READ MORE

Leave a comment

Your email address will not be published. Required fields are marked *

Yes, I would like to receive emails from Washington Informer Newspaper. Sign me up!


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, https://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact