Amazon.com, Inc. (NASDAQ:AMZN) has received the nod for its plans from the board of Arlington, Virginia, to build its second headquarters in Arlington County. It now expects to lay the foundation on 2.1 million Sq. Ft. in early 2020. The company would complete the construction in the next three years.
Construct two 22-story buildings
Amazon will transform the vacant warehouses in the neighborhood of Pentagon City into two 22-story buildings. It will house restaurants, retail, and a daycare center for the public. The Metropolitan Park will also comprise 2.5 acres of greenhouses that house farmers markets, and dog parks.
Expect to generate 25,000 jobs
Amazon expects to generate 25,000 jobs in the next decade after completing HQ2. Over 400 employees are already working in the crystal city, Virginia, in leased offices. Some of them are working on Alexa teams and cloud computing.
More people used Amazon Prime
According to a communiqué from Amazon, several people have used the Prime service for quick delivery during the holiday season this year when compared to previous years. The company said over 5 million new customers have begun the trial of Prime or chosen Prime membership. It has clocked sales of several million Amazon devices. The company also sold several items across the world.
The same day shipments and one-day shipments have quadrupled this year than the previous year. Third-party sellers on Amazon platform have shipped over 100 million items with a one-day shipping option during the holiday season.
How Amazon makes money?
Amazon is not just a shopping and e-commerce company; its other businesses include development and production of software, devices, and providing cloud services. The company has also penetrated deep into new markets and industries. An analysis of the results shows Amazon’s business is growing year on year.
Amazon reported revenues of $12 billion in Q2 2019 from third-party seller services. It is an increase of 23% when compared to the same period last year. The $12 billion revenues include fulfillment fees, shipping, commissions, and other seller services. Its fastest-growing sectors include Amazon Music, Amazon Prime, prime video, and AWS. The online store revenues of Amazon are reported at $31.1 billion in Q2 2019.