Amazon Accused of Illegally Raising Prices by Over $1 Billion with Project Nessie, FTC Lawsuit Exposes

Amazon Accused of Illegally Raising Prices by Over $1 Billion with Project Nessie, FTC Lawsuit Exposes

FTC Lawsuit Exposes Amazon's Secret Pricing Tool

The FTC contends that these policies were conceived by Amazon’s founder and former CEO, Jeff Bezos, with the aim of boosting the company’s profit margins. The complaint alleges that Mr. Bezos directly instructed his advertising team to increase the number of ads on Amazon by permitting more irrelevant advertisements, as the revenue generated from ads outweighed the revenue loss resulting from a degraded shopping experience for consumers.