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Benzinga
Benzinga
Politics
Anusuya Lahiri

Amazon's Refusal To Reveal Product Search Algo Could Fuel Its Showdown With Australia

Amazon United States Nasdaq Australia Amazon.com Inc. Alphabet Inc Facebook Meta Britain
  • Amazon.com Inc (NASDAQ:AMZN) refused to detail its product-search system to an Australian competition regulator, Reuters reports.
  • Amazon has denied offering an advantage to its products over rivals.
  • Amazon's withholding of the information could lead to a possible repeat of Australia's 2021 showdown with Facebook rebranded Meta Platforms Inc (NASDAQ:FB) and Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google forcing them to pay content royalties to the media.
  • The watchdog has heard complaints of large marketplace platforms giving preference to in-house wares.
  • The regulator noted that Amazon did not dominate in Australia, unlike other large online retail markets, such as the U.S. and Britain.
  • Still, allowing large platforms to give their own products preferential treatment might influence purchasing decisions and damage competition calling for the disclosure of any activities which favor their products.
  • Price Action: AMZN shares traded higher by 2.63% at $2,836.10 in the premarket on the last check Thursday.
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