Amazon.com Inc., the biggest online retailer globally, made a filing with the Securities and Exchange Commission in the U.S., saying that Jeff Bezos, who is the founder and the Chief Executive Officer of the company, was paid a total of 1.68 million dollars in 2013. The payment was not changed for a second straight year and includes a salary of 81 840 dollars and security arrangements estimated to about 1.6 million dollars.
An 18% stake of the company is currently held by Mr. Jeff Bezos. According to Amazon.com Inc.s filing, the Chief Executive Officer of the company has not received any stock-based compensation or a higher salary. He is considered to be following the trend by the chief executives of many high-tech companies such as Apple Inc., Google Inc. and Facebook Inc., who have decided to take low salaries over the last few years.
The major initiatives of Amazon were described in a letter from Mr. Bezos to the companys shareholders. The Chief Executive Officer of the online retailer revealed that the company is counting on a great variety of programs, some of which may turn out to be more successful than others. Mr. Bezos wrote in the letter, cited by Bloomberg: “Failure comes part and parcel with invention. It’s not optional. We understand that and believe in failing early and iterating until we get it right. When this process works, it means our failures are relatively small in size.”
This announcement of the company comes at a moment when Amazon.com Inc. said it had reached an agreement over the purchase of comiXology, a digital-comic provider. The company, however, failed to reveal any more details about the deal, which is expected to be finalized during the second quarter of the current financial year.
This move is a part of companys acquisition strategy, with another part being the purchase of the book-recommendation website Goodreads in 2013. The acquisition deals are believed to be a result of companys desire to broaden its positions in the online retail sector, expanding both its reach and variety of offerings.
According to Financial Times, shares of Amazon.com Inc. fell 4.43% to close at 317.11 USD on NASDAQ yesterday, while companys one-year return rate was 19.77%. According to data published by CNN Money, the 38 analysts offering 12-month price forecasts for Amazon.com Inc. have a median target of 437.50, with a high estimate of 500.00 and a low estimate of 330.00. The median estimate represents a +37.96% increase from the last price of 317.11.
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