CNBC reports that Amazon disclosed in a blog post on Tuesday (11 September) that its business to business (B2B) marketplace will reach $10bn in sales this year. This impressive achievement comes just three years after it was officially launched. A year after the launch, Amazon’s B2B marketplace had already passed $1bn in sales.
Amazon Business is the company’s marketplace that sells business supplies to corporate buyers which include schools, hospitals and over 50% of all Fortune 100 companies, according to CNBC. The growth of this segment has been faster that than the growth of its consumer retail or cloud business units with some analysts of the view that Amazon Business could become bigger than the company’s consumer marketplace. Amazon also said that “hundreds of thousands” of business sellers are on the business marketplace, with third-party merchants accounting for more than half of the $10bn in sales. Business now operates in eight countries.