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Amazon Prime service hits 100 million paid subscribers

Amazon Prime service hits 100 million paid subscribers”

Borrowing an analogy from the world of gymnastics, Amazon founder Jeff Bezos says he "certainly can't do a handstand" to take full credit for the retail giant's successes, as he revealed for the first time overnight the true reach of his company's Amazon Prime shopping option.

The high in subscriptions at Prime, launched 13 year ago, was among milestones from last year shared by Bezos in the letter, a copy of which was filed with U.S. securities regulators.

But it is the capacity of the program to more tightly knit customers into the Amazon ecosystem that make it so valuable. He had previously estimated Amazon had 92 million Prime subscribers.

As for sales of some of Amazon's other heavily promoted products and services, Bezos remained typically vague. With millions of active users and lakhs of orders placed every day, Amazon has become the fastest-growing company in India.

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The number of Prime subscribers for years has been a closely held secret and the focus of much speculation.

Subscriptions to Prime, which launched 13 years ago, cost $99 in the U.S., and come with fast, free shipping as well as online access to movies and television shows.

"Unrealistic beliefs on scope - often hidden and undiscussed - kill high standards", Bezos wrote.

Amazon offers Prime service in cities in nine countries.

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It was in the annual shareholder letter published on Wednesday that Bezos proceeded to note the milestone.

Last year, Amazon added more Prime members than ever before, shipping more than five billion items through the paid membership service worldwide, Bezos added. Also more new Prime members joined the service on this day, than other day in the company's history. In Bezos's annual letter to shareholders, also released on Wednesday, he again highlighted Amazon's investment in infrastructure and its ability to create jobs both directly and indirectly. "High standards are contagious".

In total, 2 million merchants now sell on Amazon around the world and Amazon have 560,000 employees making them one of the largest employers in the world. "To achieve high standards yourself or as part of a team, you need to form and proactively communicate realistic beliefs about how hard something is going to be - something this coach understood well". "Customers bought tens of millions of Echo devices", Bezos said.

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