Amazon.com (AMZN) announced on Monday that customers ordered over 40 million units from hundreds of thousands of small businesses during the e-commerce giant's third annual Prime Day event.
By comparison, last year's Prime Day saw 20 million units purchased from small businesses.
Prime Day sales not only boost the profits generated by small businesses and entrepreneurs but also helps them prepare for the upcoming holiday season, said Peter Faricy, VP, Amazon Marketplace.
"Overall, for the Prime Day event (all 30 hours), we saw about 20 times more overall sales. This is a huge benefit to our business, as it gives us exposure to thousands of new customers, and helps us with cash flow as we ramp up on inventory for the Holiday Season," said small business owner Ben Arneberg, co-founder of Willow & Everett.
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In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.
The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s (TSN) Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron (APRN) .
Speaking at the National Governors Association Summer Meeting in Rhode Island on Saturday, Musk reiterated that shares of Tesla are trading at a level "higher than we have any right to deserve" based on optimism about the company's future.
"Those expectations sometimes get out of control," Musk added. Meanwhile, TheStreet reports Tesla could be at risk of a nasty surprise soon: the end of tax credits for electric cars in the U.S.
Procter & Gamble under siege: Peltz's Trian Fund Management plans to launch a fight for a board seat at Procter & Gamble PG, making it the largest company to face a proxy battle, The Wall Street Journal reported Monday.
Trian, which owns about $3.3 billion of P&G stock, is said to be seeking a single board seat for Peltz at the company's annual meeting that could take place in October. P&G have reportedly been in talks for five months, but the company is said to have rejected to name Peltz as a director last week.
Sales at P&G -- and its stock price -- have stalled due to pricing pressure and competition.
As TheStreet's Ron Orol reported in June, look for the consumer packaged goods company to announce plans for spin-offs, sales or even a swap out of business units. If major M&A doesn't come soon, a Trian director-battle or white paper chock full of activist demands could be next.
And Trian likely will demand significant M&A activity. Spinoffs and other major deals often follow when the activist investor acquires a large stake. Trian and other activist fund managers often push to have large companies break themselves up with the goal of extracting value by focusing the market on various parts of a business that might be hiding inside confusing conglomerate structures.
Read the latest Amazon news on TheStreet:
- Amazon Is Pure Madness: It's Going to Destroy Almost Every Industry Alive and It Must Be Stopped
- Ex-Amazon Exec Explains What Bezos Could Do With Whole Foods -- and Other Deals That Might Happen
- Amazon Files Trademark to Get Into Meal Kits, Continuing to Haunt Blue Apron
- Blue Apron Is Crashing Thanks to One New Move by Amazon