It’s not hard to knock Amazon.com for its current inability to turn a profit, and many are wondering if the e-commerce powerhouse will ever be in the black. One thing everyone has to admit, however, is that Amazon.com certainly is attracting a lot of customers, who have a lot of buying power on their credit cards.
On Monday, Amazon.com become the first e-commerce site to serve 10 million customers. What’s even more impressive is that Amazon.com reached the one-million-customer milestone in November of 1997 and has seen its customer base grow tenfold in less than two years.
Shares of Amazon.com climbed 8-15/16 to 117-3/8 on Monday. Profitability or no profitability, Amazon.com still has its competitors playing catchup.