ecommerce platform Amazon is continuing to kill off its products and is moving to an e-commerce-based model.
The company is also trying to eliminate its massive customer acquisition costs.
Amazon’s growth has slowed in recent quarters, and it has been struggling to find a way to expand its business outside of the U.S. It was founded in 1998 by Jeff Bezos and Jeff Bezos Jr. and is now valued at $66.6 billion.
Amazon now has a $3 billion cash pile and has about 100 million customers.
Amazon has also struggled to compete with other online retail sites such as Target, Walmart and Kohl’s.
Its growth has been slowing and its revenue has declined over the past two years.
Its sales are down 20 percent year over year.
The online marketplace has been a net seller since 2010 and its customers have become increasingly savvy shoppers.
The stock is down more than 7 percent since the end of March, and analysts have said it could fall even further if Amazon continues to lose money.