Question: Between 1994 and 1999 Amazon lost more than $500 million, but at the end of this period its valuation was still more than $20 billion.

Between 1994 and 1999 Amazon lost more than $500 million, but at the end of this period its valuation was still more than $20 billion. At the start of 2000 Amazon.com underwent its first round of job cuts, sacking 150 staff or 2 per cent of its worldwide workforce. Later in 2000 its valuation dropped to less than half.

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