Amazon Business tops $10 billion annual revenue run rate

Amazon Business, which is focused on B2B, now has an annualized revenue run rate of more than $10 billion, the company said.

In a blog post, Amazon said its Amazon Business effort, which aims to connect businesses, has gained significant traction in the U.S. with 55 of the Fortune 100 companies, half of the 100 largest hospitals and a bevy of government, education and small business customers.

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The company, which just launched Amazon Business in Italy, France and Spain, is also expanding globally. Amazon Business has access to more than 150,000 business sellers in the U.S. and half of the $10 billion annual revenue tally is attributed to third party marketplaces.

Like other Amazon services, the company is focused on a steady cadence of new features to integrate with e-procurement systems and give more visibility into shipping and workflow.

Amazon has been developing its B2B game for years. Its most recent effort revolves around providing incentives and infrastructure to encourage small businesses to form to deliver packages.

SEE: Amazon wants your business to deliver its packages: Everything you need to know