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Jeff Bezos resigns: will new CEO Andy Jassy jazz things up at Amazon?

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Today, Andy Jassy will take over as the CEO of Amazon from billionaire Jeff Bezos. Here’s everything you need to know about the CEO shakeup.

Today Jeff Bezo officially steps down as Amazon CEO on the company’s 27th birthday. Former cloud-computing boss Andy Jassy will take over the top spot. Bezos isn’t leaving Amazon behind though — he’ll transition to executive chairman of Amazon’s board after the shakeup.

The move comes at a critical time for the world’s largest online retailer, which is facing growing demands for regulatory action to control its global market dominance.

Who is Andy Jassy?

Jassy has been working at Amazon for 24 years as Bezos’ shadow and second-hand-man.

Dan Ives, another analyst at Wedbush, described Jassy as “one of the most powerful leaders, not just within the cloud and tech sector but in the world of business”.

Amazon’s new CEO Andy Jassy grew AWS to a $40 billion dollar business

The brains behind Amazon Web Services

Amazon’s move into cloud storage was Jassy’s idea. In the early 2000s, he identified that internal cloud storage would be a much faster way of sharing large amounts of information. Other companies eventually picked up this internal cloud network idea.

“I don’t think any of us had the audacity to predict it would grow as big or as fast as it has,” Jassy has said of AWS.

The new CEO doesn’t shy away from taking a political stance

Jassy has show himself to be more prepared than former CEO Bezos to take a political and social stance. After the death of Breanna Taylor, he Tweeted that the US can’t let the death “go with no accountability”.

“If you don’t hold police depts accountable for murdering black people, we will never have justice and change, or be the country we aspire (and claim) to be,” he Tweeted.

Aside from issues on race, he’s also spoken out about the persecution of LGBTIQ+ people and mass incarciration in the US.

“It’s nuts that the US has 5% of the world’s population and 25% of the imprisoned population,” he also said on Twitter. “And, the racial bias with which this incarceration is happening is awful.”

What will the CEO shakeup mean for shareholders?

As the world locked down amid the Covid-19 pandemic in 2020, Amazon’s sales soared by 38% to a record $386bn. So, shareholders shouldn’t be complaining too much.

How much does it pay to be the CEO of Amazon?

The company will award Jassy 61,000 shares, which is currently worth more than $US200 million. Amazon will pay out the shares over the next 10 years.

With a salary of $US175,000, these stocks are where the real money is at for Jassy. However, the salary is also substantially more generous than Bezos’ base salary of $US81,840. Of course, the founder’s outsized stake in Amazon has made him the richest person in the world.

Former CEO set to go to space

This comes after Bezos announced he would be going to space with his other company, Blue Origin.

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  • Keira is the front-page editor at Ticker NEWS. She's previously worked at Reuters in Jakarta, and ABC in Australia. She has a Bachelor of Journalism, specialising in international politics. Keira is particularly interested in writing about politics, technology and human rights.

Keira is the front-page editor at Ticker NEWS. She's previously worked at Reuters in Jakarta, and ABC in Australia. She has a Bachelor of Journalism, specialising in international politics. Keira is particularly interested in writing about politics, technology and human rights.

Business

Snapchat is growing faster than it has in years

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Snapchat announces new climate plan

Snapchat’s parent company has continued to see record growth – and profit – of the platform

Just a couple of years ago, there were concerns that Snap, the parent company of Snapchat, wouldn’t survive as a standalone company, but the social media platform is growing faster than it has since 2017.

The camera-based messaging app stated it added 13 million daily users during the second quarter of this year – a 23 percent increase from the same time a year ago.

That means 293 million people use Snapchat every day around the world, up from 173 million this time four years ago.

Snapchat’s revenue has also soared 116 percent to $982 million – making it a faster growing business than Twitter or Facebook

Snap CEO Evan Spiegel has said he expects the app’s user base to actually grow faster as pandemic lockdowns end, since Snapchat is designed to be used out and about with friends.

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Battle of the Crown: Star Entertainment ditches bid

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Australia’s Star Entertainment Group has ditched a bid to merge with Crown Resorts

In the latest showdown in the battle for the Aussie Casinos – Star proposed a merger bid back in May worth $12 billion.

Star Entertainment operates casinos in Sydney, Gold Coast, and Brisbane while Crown operates venues in Melbourne and Perth, while a built casino in Sydney hasn’t been granted permission to open.

The Star merger with Crown would have created an Australian gaming and hospitality giant with a total market value of $12 billion AUD.

Crown shares dive following Star’s announcement

Shares fell as much as 4.2% in early trading today, cleaving its market value to $6.7 billion.

Star, which is best known for its casino in Sydney, said it “remains open to exploring potential value-enhancing opportunities with Crown,” though engagement with Crown on the merger plan had been “limited.” It said it will closely monitor the outcome of the Melbourne investigation, as well as a concurrent probe into Crown’s Perth casino.

In a separate statement, Crown said it remains “willing to engage” with Star in relation to a potential merger. “The board is committed to maximizing value for all Crown shareholders and will carefully consider any proposal that is consistent with this objective,” it said.

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Why businesses should be tapping into the world of eSports

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Gaming has run a parallel race with tech businesses for years now with many industries embracing the competitive advantages.

CARLOS ALIMURUNG EXPLAINS THE PERKS OF MOBILE GAMING

It’s no secret that eSports is an area that many gamers imagined thriving since the early days of couch multiplayer – Businesses are now witnessing the momentum first-hand with companies such as ONE eSports acting as a vanguard to this new era.

CEO of ONE eSports, Carlos Alimurung was able to shine some light on the industry looking to explain the benefits for players, sponsors, and streamers.

Mobile gaming, whilst often considered “beneath” many traditional gamers have seen exponential growth with the power of smartphones and mobile devices increasing significantly, and eSports teams have noticed the potential of the games on offer and the convenience with which the platforms contain.

Celebrating the narrative of content creators and players within the industry is another area boasted by ONE eSports as they encourage and promote the players, seeing them as no different to athletes seen on a field, court, or even the Olympics. Though as Carlos explains “eSports doesn’t need the Olympics” – A wonderful expression of confidence for a passionate group of gamers desiring to be taken seriously.

Balancing a traditionally male-dominated industry can be a challenging task for a lot of big businesses which look to make a difference.

Articles outlining the struggles of female employees within game development are rife and deeply troubling, with major developers coming under fire for their response to the traumatic experiences inflicted upon women in the gaming industry.

INCLUSION IS PART OF THEIR INDUSTRY MISSION

They seek to enable and uplift players, streamers, and content creators of all genders to succeed – a breath of fresh air in an otherwise tainted space.

The numbers of female players look to increase with nearly 47% of gamers already being female there is plenty of room to see growth within eSports. (It doesn’t matter what gender you are when you’re on the business end of a no-scope trick shot in the arena!)

carlos alimurung gives insight into the business branding within esports

With brands like Netflix looking to get involved in the gaming industry, it is no longer a question of how but when other major companies will look to plug in and play.

Brands will also need to get smart about how their marketing will be presented to a younger more active audience (without hitting players over the head with it) Games like the basketball simulator: NBA 2K21 integrated unskippible advertising during loading screens which saw fans upset with being force-fed content onto their screens.

And whilst some could argue this made the game more authentic as advertising of course coats the sporting space, there are definitely more clever ways to do this… the spectacle of an esports arena for instance and the opportunities available have untapped potential, again the key is to be clever with the integration of marketing to Gen Z.

EXPANDING REACH

eSport will continue to expand its traditional reach from North America and Southeast Asia through onto Australian shores the question again, is not how but when this will occur as many Aussie gamers go without representation and limited faculty on home soil.

With the pandemic and vaccine rollout yet to play out in full there is a great opportunity to expand the digital market and competitive gaming space worldwide.

For the full chat with Carlos and more gaming goodness check out the rest of Ticker Gaming

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