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Amazon cuts payments by nearly $3 mil

Published on .

E-tail giant Amazon.com has agreed to accept and been asked to accept lower cash payments from some of its e-tail partners, it disclosed Aug. 2 in its quarterly filing with the Securities & Exchange Commission. Amazon reported a loss of nearly $3 million in revenue from restructured deals with some of the companies. Since last fall, Amazon has brought 15 companies into the Amazon Commerce Network, which gives the e-tailers a co-branded page within Amazon in exchange for cash or equity. Network partners include Drugstore.com, HomeGrocer.com and Pets.com.

Copyright August 2000, Crain Communications Inc.

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