NEW YORK ( TheStreet) -- Amazon (AMZN - Get Report) is often talked about for its massive presence in online shopping, and rightly so. The company accounted for one-third of online shopping revenue as of mid-2012 according to the Institute for Local Self-Reliance, to the tune of $48.08 billion in revenue. Amazon holds even more of the market when looking at online book sales -- it has 75% of online book sales and 61% of e-book sales.
But there is more to Amazon's pie than just online shopping.
A large, but often forgotten, part of Amazon's business is the web services it provides to big companies. According to a December article in the New York Times, Amazon's web service is responsible for Netflix's (NFLX - Get Report) streaming services, as well as popular websites such as Pinterest and Instagram. Google (GOOG) launched a similar service in June and Microsoft (MSFT - Get Report) is also in the game with its Windows Azure.
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