Amazon's B2B marketplace hits user milestone
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Amazon is boasting a new user milestone for its B2B marketplace, Amazon Business. The ecommerce giant said Tuesday that Amazon Business has hit the one-million customer mark, a little more than two years after its launch.
Amazon Business is essentially a supplies marketplace that sells everything from restaurant napkins to lab equipment. Launched in April 2015, the service also offers analytics tools to help track spending across an organization.
At one million customers, Amazon Business is still relatively small as compared to the company's gargantuan consumer ecommerce business. But with an estimated $5 trillion addressable market, Amazon Business could grow to become a significant revenue segment for Amazon.
In a presentation last year, RBC Capital Markets analyst Mark Mahaney went so far as to crown Amazon Business as "Amazon's Fourth Pillar," citing B2B market potential, the division's unique offering and its strategic use of Amazon's core competencies.
Amazon says current Business customers include Con Edison of NY, Gwinnett County Public Schools, Intermountain Healthcare, Johns Hopkins University, King County, Mayo Clinic, Siemens in the USA, and Stanford University, among others.
"We are grateful to our customers for helping us reach this significant milestone," said Prentis Wilson, VP of Amazon Business. "We are striving to set a new standard for B2B e-commerce with Amazon Business, and it's still day one for us."