Amazon Rakes In More Cash, And Spends It Wisely

Amazon announced its Q2 results yesterday, and the growth was stunning – net sales were up 51% on 2010, topping out at $9.91bn for the three month period ending June 30. Founder and CEO Jeff Bezos said that “low prices, expanding selection, fast delivery and innovation are driving the fastest growth we’ve seen in over a decade.” He also noted that the Kindle 3G with Special Offers (priced at $139) quickly became their bestselling Kindle. As usual, no exact numbers were given. Those deep pockets just keep getting deeper. But what are they doing with the money? Despite this staggering growth, profits are down 8% on the same period last year. Why? Some of the details from Amazon’s press release Read More…

E-Reader War Heats Up and Amazon Launch New Imprints

Now that Transfection has flown the net, we can get back to business. Tomorrow, I will continue my free guide to self-publishing with a section on pricing. Today, I want to look at some of the big news stories of the last week or so. The E-Reader War Hots Up On Monday, Canadian upstart Kobo launched a new touchscreen e-reader for the tasty price of $129.99. It only weighs 200 grams (take that, iPad!) and uses the same e-ink technology as the Kindle (easy on the eyes, can be read in sunlight). It can store up to 1,000 books (and can be expanded to 30,000 with memory cards).