Amazon.com's (AMZN - Get Report) U.S. Prime membership has reached 85 million members, a 35% increase from the same quarter a year ago, according to analysis from Consumer Intelligence Research Partners.
Despite quarterly growth slowing, the e-commerce giant keeps adding a significant amount of new Prime members who spend, on average, $1,300 per year, compared to just $700 for non-members.
"Amazon Prime membership encourages much more frequent shopping, likely because the free shipping benefit knocks down a key barrier to buying online often and makes Amazon their first stop for online purchases," noted Mike Levin, co-founder of CIRP.
Amazon CEO Jeff Bezos said last year that the company's goal "is to make sure that if you are not a Prime member, you are being irresponsible."
Shares of Amazon closed higher 1.41% to $978.76 per share on Friday.
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The biggest deal-maker around strikes again: Berkshire Hathaway Energy, a division of Warren Buffett's Berkshire Hathaway Inc., (BRK.A - Get Report) (BRK.B - Get Report) , confirmed Friday that it will purchase Oncor Electric Delivery Co. LLC in a deal that values the bankrupt unit's equity at $11.25 billion. "Oncor is an excellent fit for Berkshire Hathaway, and we are pleased to make another long-term investment in Texas - when we invest in Texas, we invest big!", Buffett said in a statement. "Oncor is a great company with similar values and outstanding assets."
Clearly, Buffett is still bullish on America's future. TheStreet takes a look at the billionaire's biggest bets on America.
Who cares, Elon: Tesla (TSLA - Get Report) agreed to build the world's largest lithium-ion battery park in South Australia on Friday, signing off on a deal to finish the installation within 100 days or give it away for free. Failure to deliver the project on time would cost his company about $50 million, said CEO Elon Musk, though neither the state government nor Tesla released details of the contract.
Qualcomm battle with Apple gets even nastier: Qualcomm (QCOM - Get Report) added a couple of unexpected wrinkles into its legal salvo with Apple (AAPL - Get Report) , TheStreet's tech columnit Eric Jhonsa says. One of these wrinkles aims to neutralize some of the legal arguments Apple, as well as certain regulators, have been making against Qualcomm. The other, says Jhonsa, aims to both lower the odds of a political intervention in Apple's favor, as well as boost Qualcomm's near-term chip sales at Intel Corp.'s (INTC - Get Report) expense.
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