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Amazon made $1B with Project Nessie secret algorithm: FTC lawsuit

Amazon used a series of illegal strategies to stay on top of online retailing while pushing up prices for buyers and extracting more revenue from independent sellers, the Federal Trade Commission said Thursday.

United statesTim doyleUs district courtTrade commissionProject nessieProject nessieAntitrust lawE commerce

Amazon used secret algorithm to raise competitors prices, FTC says

Amazon used secret algorithm to raise competitors prices, FTC says
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Tim doyleJeff bezosFederal trade commissionSeattle based amazonWall street journalJason delProject nessieSeller fulfilled prime

Amazon made $1 billion through secret price raising algorithm -FTC

WASHINGTON (Reuters) -Amazon.com used a series of illegal strategies to boost profits at its online retail empire, including an algorithm that pushed up prices U.S. households paid by more than $1 billion, the U.S. Federal Trade Commission detailed in a new court filing on Thursday. Amazon spokesperson Tim Doyle said the FTC "grossly mischaracterizes" the pricing tool and the company stopped using it several years ago.

United statesChizu nomiyamaDiane bartzArriana mclymoreDavid shepardsonMark porterTim doyleDoug herringtonUs district courtFederal trade commissionProject nessieProject nessiePrime dayCftc complaintOnline retail

amazon: Amazon made $1 billion through secret price raising algorithms: FTC

The $1 trillion company monitored its sellers and punished them if they offered lower prices on other platforms, the FTC said.

United statesUttar pradeshDoug herringtonTim doyleOffering collegeIndian school of businessProgramme in fintechUs district courtNorthwestern universityFederal trade commissionTech prowessHigh value skillPost graduate certificateApplied riskProject nessieProject nessie

Amazon used an algorithm to essentially raise prices on other sites, FTC says – NBC 6 South Florida

Amazon used a secret algorithm that essentially helped the company raise prices on other online sites, the FTC alleged.

United statesJeff bezosTim doyleFederal trade commissionSouth floridaWall street journalJason delProject nessie

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