Amazon's new Prime Reading feature differs from the Lending Library in a few key ways. First, it's not limited to Kindles: You can access the catalog of free e-books on phones, tablets and anything else capable of running a Kindle app. Second, the selection includes not only books, but also a rotating selection of magazines, comics, travel guides, Kindle Singles and more.
The question at this point is valuation. At roughly 10x revenue and 63x forward EPS, ETSY isn’t cheap, even by the standards of high-margin platform stocks. As Josh Enomoto pointed out in August, the arts & crafts industry isn’t growing. Industry leader Michaels Companies (NASDAQ:MIK) has said the same thing — and it’s rolling out an Etsy competitor of its own next year.
In 2005, Amazon announced the creation of Amazon Prime, a membership offering free two-day shipping within the contiguous United States on all eligible purchases for a flat annual fee of $79 (equivalent to $99 in 2017), as well as discounted one-day shipping rates. Amazon launched the program in Germany, Japan, and the United Kingdom in 2007; in France (as "Amazon Premium") in 2008, in Italy in 2011, in Canada in 2013, and in India on July 26, 2016.