>> Amazon shares up as much as 2.5% in trading Thursday, after the eCommerce giant revealed it's best kept secret. In his annual shareholder letter, CEO Jeff Bezos finally announced Amazon has over 100 million paying prime subscribers. A number investors have been begging for for years. Bezos adding in the letter that more new members joined the service in 2017, than any other year.
And that in the same year, it shipped over 5 billion items worldwide via prime. The service which costs US members $99 a year, woos customers with perks like free two-day delivery, and access to a stocked video and music library. The revelation comes as the company faces threats from two strong forces, Walmart and President Trump.
The mega retailer has stepped up it's online shopping game to compete with Amazon. While Trump has repeatedly attacked Amazon, complaining it doesn't collect enough state and local sales tax, and is draining the Postal Service of money.>> The Post Office is losing billions of dollars, and the taxpayers are paying for that money, because it delivers packages for Amazon at a very below cost.
>> Bezos may no mention of Trump in his annual letter, and generally keeps thing light like using this story of a friend who recently spent months, learning how to do a handstands as a lesson on maintaining high standards.