Jeff Bezos Believes AWS Could Be Amazon’s Biggest Business; AWS is five times bigger than the other 14 companies combined

Jeff Bezos Believes AWS Could Be Amazon’s Biggest Business

Posted 6 hours ago by Alex Williams

In a press conference today, Amazon Web Services Senior Vice President Andy Jassy said that CEO and Founder Jeff Bezos believes AWS could be the company’s largest business. Amazon reported $61 billion in revenues  for the 2012 fiscal year. The company does not report revenues for AWS but it is widely believed to be a $3.5 billion business and growing rapidly.Amazon built its business on e-commerce, and it remains the primary focus for the company. But the demand for cheap computing and storage power continues to scale as app development mushrooms and more people connect through their smartphones and other devices.

Bezos has said before that AWS could be as big as its retail business, but saying it could be bigger shows far more confidence in the future of its cloud business.

Here’s the full text of what Jassy said at the press conference:

Jeff is very excited about the AWS business and he believes – like the rest of the leadership team does – that in the fullness of time- it is very possible that AWS could be the biggest business at Amazon.

Gartner Research shows AWS as the far and away leader in the public cloud market, declaring that AWS is five times bigger than the other 14 companies combined that are included in the research.

The viewpoint is undoubtedly optimistic but consider the IT market. It’s a trillion-dollar business that is moving to the cloud. If AWS gets a fraction of that business, then Bezos’s statement is an easy one to believe.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: