Amazon Met With Startups About Investing, Then Launched Competing Products
https://www.businessinsider.com.auAccording to a new report from The Wall Street Journal (paywall) Amazon has been meeting with and investing in startups, only to later make products that directly compete with them.
The Journal spoke with dozens of startup founders, investors, and advisers, who said Amazon met with or invested in their companies, only to later build its own products that directly competed with the smaller company. The Amazon-made products often went on to crush the competition, the Journal found.
The report comes as Amazon is facing antitrust scrutiny from Congress and the Federal Trade Commission. CEO Jeff Bezos will testify before the House Judiciary Committee about the company’s business practices on Monday.
