FTC: Amazon used secret price-boosting algorithm, destroyed internal messages
Nov 03, 2023
By Shannon Longworth (Reporter), Alex Peebles (Producer), Ian Kennedy (Editor)
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Associated Press News
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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Amazon made $1 billion with algorithms used to raise prices, says FTC
Click to see story on Indian Express
Amazon boosted junk ads, deleted messages to thwart antitrust probe, FTC says
Click to see story on Bloomberg
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on NBC News
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Rocky Mountain Outlook
Amazon’s secret pricing scheme made it an extra $1 billion, FTC says
Click to see story on The Verge
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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FTC Alleges Amazon Used a Price-Gouging Algorithm
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FTC says Amazon used an algorithm to raise prices on other sites
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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FTC says Amazon made US$1 billion with price-raising algorithms
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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Amazon accused of illegally boosting profits through secret algorithm
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FTC: Amazon used algorithm to raise prices on other sites
Click to see story on Star Advertiser
Amazon used algorithm to secretly raise prices and ‘destroyed’ internal messages, FTC says
Click to see story on WKMG
Amazon made $1 billion through secret price raising algorithm -FTC
Click to see story on The Print
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Click on Detroit
FTC: Amazon used an algorithm to essentially raise prices on other sites
Click to see story on Portland Press Herald
Unredacted FTC suit shows ‘Project Nessie’ price-raising algorithm made Amazon $1.4B
Click to see story on TechCrunch
FTC Claims Amazon Doubled Number Of Ads In Search Results—And Deleted Internal Messages To Evade Federal Probe
Click to see story on Forbes
Amazon used secret algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Penn Live
Amazon collected $1 billion in extra profits using algorithm that jacked up prices on customers, FTC alleges in antitrust case
Click to see story on Fortune
Amazon used algorithm to secretly raise prices and ‘destroyed’ internal messages, FTC says
Click to see story on KOB 4
FTC: Amazon used an algorithm to essentially raise prices on other sites
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Amazon used secret algorithm to raise competitors’ prices, FTC says
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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Amazon Made $1 Billion Through Secret Price Raising Algorithm, Says FTC
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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Amazon made $1 billion through secret price raising algorithms: FTC
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Amazon made $1B with Project Nessie secret algorithm: FTC lawsuit
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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Amazon used secret algorithm to raise prices on other sites, FTC says
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Amazon earned US$ billion through a secret price increase algorithm
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Amazon used secret algorithm to make a profit, says FTC – 11/02/2023
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Amazon ganhou 1000 milhões de dólares graças a algoritmo secreto de aumento de preços
Click to see story on Jornal Expresso
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Airdrie City View
Amazon lucrou US$ 1 bilhão com algoritmo que elevou artificialmente seus preços
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New details from FTC lawsuit: Amazon made $1.4B through Project Nessie, an algorithmic scheme that raised product prices and held them there if rivals followed
Click to see story on techmeme.com
Projekt Nessie. Tajný algoritmus zvyšování cen vydělal Amazonu miliardu dolarů
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Amazon Made Extra $1 Bn In Profit Via Secret Pricing Algorithm: US FTC
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Amazon used an algorithm to essentially raise prices on other sites, the FTC says – The Morning Sun
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Amazon Earned $1 Billion Through Secret Price Raise Algorithm
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They accuse Amazon of using an algorithm to inflate prices
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FTC: Amazon used an algorithm to raise prices on other sites – Record Argus
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Geheimer Algorithmus von Amazon zieht Kunden Geld aus der Tasche
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48 other sources covering this story
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Amazon has long faced accusations of monopolistic practices, and now, the Federal Trade Commission claims it has proof in the form of an algorithm. In September, the FTC, along with 17 states, filed a lawsuit against Amazon.
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The suit’s central allegation is that the online retailer intentionally punished rivals for offering lower prices than Amazon.
In newly un-redacted documents, the FTC says Amazon used a secret algorithm to raise prices on other retail sites and then destroyed internal communication when the FTC began its investigation.
“We note in the complaint, both a set of anti-discounting tactics that Amazon uses to punish any seller or retailer that dares to discount,” FTC Chair Lina Khan said. “And ultimately, these sets of tactics deter sellers and retailers from lowering prices and closes off an entire dimension of price competition.”
An FTC court filing released on Thursday, Nov. 2, alleges Amazon used an algorithm dubbed “Project Nessie” to push prices up, generating more than $1 billion in additional profits. According to the FTC filing, Amazon used Project Nessie to predict what products it could raise prices on in a way that would force competitors to do the same.
An Amazon spokesperson said the FTC has “grossly mischaracterized” its pricing tool, Project Nessie, which the company said was implemented to stop its price matching from lowering prices to unsustainable levels, adding that the company turned it off years ago because it didn’t work as it was supposed to.
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But the FTC contends that since its creation in 2014, Amazon has turned it on and off at least eight times between 2015 and 2019. In April of 2018, the FTC alleges that Amazon used Project Nessie to set prices for more than 8 million items that cost nearly $194 million.
In the lawsuit, the FTC also accuses the online retail giant of destroying more than two years’ worth of internal communications between 2019 and 2022 on the app Signal.
The new details come as a version of the lawsuit with fewer redactions became available on Thursday, Nov. 2, in a U.S. District Court in Seattle.
AMAZON HAS LONG FACED ACCUSATIONS OF MONOPOLISTIC PRACTICES – NOW WE’VE LEARNED THE FEDERAL TRADE COMMISSION CLAIMS IT HAD PROOF – IN THE FORM OF AN ALGORITHM.
IN SEPTEMBER THE F-T-C – ALONG WITH 17 STATES – SUED AMAZON.
THE LAWSUIT’S MAIN ALLEGATION – THE ONLINE RETAILER INTENTIONALLY PUNISHED RIVALS FOR OFFERING LOWER PRICES THAN AMAZON…
IN NEWLY UNREDACTED DOCUMENTS.. THE FTC SAYS AMAZON USED A SECRET ALGORITHM TO RAISE PRICES ON OTHER RETAIL SITES AND THEN DESTROYED INTERNAL COMMUNICATION WHEN THE FTC BEGAN ITS INVESTIGATION.
“We note in the complaint, both a set of anti-discounting tactics that Amazon uses to punish any seller or retailer that dares to discount, and ultimately these sets of tactics deter sellers and retailer from lowering prices and closes off an entire dimension of price competition.”
AN FTC COURT FILING RELEASED ON THURSDAY – ALLEGES AMAZON USED AN ALGORITHM – DUBBED PROJECT NESSIE – TO PUSH PRICES UP GENERATING MORE THAN 1-BILLION DOLLARS IN ADDITIONAL PROFITS.
ACCORDING TO THE FTC FILING – AMAZON USED PROJECT NESSIE TO PREDICT WHAT PRODUCTS IT COULD RAISE PRICES ON IN A WAY THAT WOULD FORCE COMPETITORS TO DO THE SAME.
AN AMAZON SPOKESPERSON SAID THE F-T-C HAS GROSSLY MISCHARACTERIZED THE PRICING TOOL – PROJECT NESSIE – WHICH THE COMPANY SAYS WAS IMPLEMENTED TO STOP IT’S PRICE MATCHING FROM LOWERING PRICES TO UNSUSTAINABLE LEVELS… ADDING THAT THE COMPANY TURNED IT OFF YEARS AGO BECAUSE IT DIDN’T WORK AS INTENDED..
BUT THE F-T-C CONTENDS THAT SINCE ITS CREATION IN 20-14… AMAZON HAS TURNED IT ON AND OFF AT LEAST EIGHT TIMES BETWEEN 20-15 AND 20-19. IN APRIL OF 20-18 THE FTC ALLEGES THAT AMAZON USED PROJECT NESSIE TO SET PRICES FOR MORE THAN 8-MILLION*** ITEMS THAT COST A TOTAL OF NEARLY 194 MILLION DOLLARS.
IN THE LAWSUIT THE F-T-C ALSO ACCUSES THE ONLINE RETAIL GIANT OF DESTROYING MORE THAN TWO YEARS WORTH INTERNAL COMMUNICATIONS BETWEEN 2019 AND 2022 ON THE APP – SIGNAL..
THE NEW DETAILS COME AS A VERSION OF THE LAWSUIT WITH FEWER REDACTIONS BECAME AVAILABLE ON THURSDAY… IN A U.S. DISTRICT COURT IN SEATTLE…
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Media Landscape
See who else is reporting on this story and which side of the political spectrum they lean. To read other sources, click on the plus signs below.
Learn more about this dataLeft 29%
Center 57%
Right 14%
Bias Distribution
Far
Left
+0
Click to close
Left
+0
Click to close
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Associated Press News
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on abc News
Amazon made $1 billion with algorithms used to raise prices, says FTC
Click to see story on Indian Express
Amazon boosted junk ads, deleted messages to thwart antitrust probe, FTC says
Click to see story on Bloomberg
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on NBC News
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Rocky Mountain Outlook
Amazon’s secret pricing scheme made it an extra $1 billion, FTC says
Click to see story on The Verge
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on NBC Connecticut
FTC Alleges Amazon Used a Price-Gouging Algorithm
Click to see story on Gizmodo
FTC says Amazon used an algorithm to raise prices on other sites
Click to see story on Scripps News
Click to close
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on KIFI
FTC says Amazon made US$1 billion with price-raising algorithms
Click to see story on Channel News Asia
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on KVIA
Amazon accused of illegally boosting profits through secret algorithm
Click to see story on WION
FTC: Amazon used algorithm to raise prices on other sites
Click to see story on Star Advertiser
Amazon used algorithm to secretly raise prices and ‘destroyed’ internal messages, FTC says
Click to see story on WKMG
Amazon made $1 billion through secret price raising algorithm -FTC
Click to see story on The Print
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Click on Detroit
FTC: Amazon used an algorithm to essentially raise prices on other sites
Click to see story on Portland Press Herald
Unredacted FTC suit shows ‘Project Nessie’ price-raising algorithm made Amazon $1.4B
Click to see story on TechCrunch
FTC Claims Amazon Doubled Number Of Ads In Search Results—And Deleted Internal Messages To Evade Federal Probe
Click to see story on Forbes
Amazon used secret algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Penn Live
Amazon collected $1 billion in extra profits using algorithm that jacked up prices on customers, FTC alleges in antitrust case
Click to see story on Fortune
Amazon used algorithm to secretly raise prices and ‘destroyed’ internal messages, FTC says
Click to see story on KOB 4
FTC: Amazon used an algorithm to essentially raise prices on other sites
Click to see story on WPRI 12
Amazon used secret algorithm to raise competitors’ prices, FTC says
Click to see story on East Idaho News
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on techxplore.com
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Dayton Daily News
Amazon Made $1 Billion Through Secret Price Raising Algorithm, Says FTC
Click to see story on slashdot.org
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on castanet.net
Click to close
Amazon made $1 billion through secret price raising algorithms: FTC
Click to see story on Times of India
Amazon made $1B with Project Nessie secret algorithm: FTC lawsuit
Click to see story on New York Post
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Financial Post
Amazon used secret algorithm to raise prices on other sites, FTC says
Click to see story on OC Register
Amazon earned US$ billion through a secret price increase algorithm
Click to see story on Sapo
Click to close
Right
+0
Click to close
Far
Right
+0
Click to close
Untracked Bias
Amazon used secret algorithm to make a profit, says FTC – 11/02/2023
Click to see story on UOL
Amazon ganhou 1000 milhões de dólares graças a algoritmo secreto de aumento de preços
Click to see story on Jornal Expresso
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on My Mother Lode
Amazon used an algorithm to essentially raise prices on other sites, the FTC says
Click to see story on Airdrie City View
Amazon lucrou US$ 1 bilhão com algoritmo que elevou artificialmente seus preços
Click to see story on Brasil 247
New details from FTC lawsuit: Amazon made $1.4B through Project Nessie, an algorithmic scheme that raised product prices and held them there if rivals followed
Click to see story on techmeme.com
Projekt Nessie. Tajný algoritmus zvyšování cen vydělal Amazonu miliardu dolarů
Click to see story on iDNES.cz
Amazon Made Extra $1 Bn In Profit Via Secret Pricing Algorithm: US FTC
Click to see story on Glamsham
Amazon used an algorithm to essentially raise prices on other sites, the FTC says – The Morning Sun
Click to see story on communityq.com
Amazon Earned $1 Billion Through Secret Price Raise Algorithm
Click to see story on politika.rs
They accuse Amazon of using an algorithm to inflate prices
Click to see story on eltiempolatino.com
FTC: Amazon used an algorithm to raise prices on other sites – Record Argus
Click to see story on Record Argus – Serving Greenville, PA since 1848
Geheimer Algorithmus von Amazon zieht Kunden Geld aus der Tasche
Click to see story on futurezone.at
Click to close
48 other sources covering this story
Total News Sources
48
Leaning Left
10
Center
20
Leaning Right
5
Last Updated
6 months ago
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