Amazon is out shopping again!
Just recently, they announced the acquisition of iRobot Corp, maker of Roomba vacuum cleaner, for $1.65 Billion and OneMedical for $3.49 Billion.
These are 2 very big acquisitions within the space of about a week, with huge implications for consumers and sellers.
In this episode, I am joined by Shannon Roddy as we take a 40,000-foot view of what this means to sellers and why we should all be concerned that Amazon has the ability to do this.
Do we really want one company to be able to make multiple BILLION-dollar acquisitions in about the span of one week?
Data Privacy Concerns
Data is the most important and most valuable asset in the world today. The more data a company can acquire and leverage, the more control they are likely to get.
That’s the reason we believe led Amazon to buy iRobot.
The little vacuum cleaner that walks around your entire house collects data and spatially maps your home. They can now get the blueprint of the inside of your home.
This, combined with other Amazon products such as Alexa, Eero, and Ring cameras, are all collecting massive amounts of data. Amazon then uses this data to target you with ads and products.
The Antitrust Implications of this Acquisition
Amazon consolidating its power in this way is not good for consumers, sellers, and even the country.
If this acquisition goes through without much pushback, what else can Amazon buy that could potentially give them all the access or information that they would want?
The fact that they can buy a company that has a 75% market share in a category their own product flopped is not the way to encourage innovation and competition.
Tune in and hear what we think about these acquisitions, including the major privacy questions that arise for consumers and the negative impact on sellers.
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