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Both the firms are also deploying their latest tech tools, such as artificial intelligence and big data technology.

Brokerage to issue Global Depositary Receipts through new stock connect

Building a private cloud does come with its own risks and challenges. Moz, for example, spent million in lease obligations setting up data centers in?Virginia, Washington and Texas in 2012 and 2013. That’s a big upfront cost that a lot of companies can’t stomach, but over time Bird said it paid off and is far cheaper than Amazon.

But Avex CEO Katsumi Kuroiwa, talking to investors on Friday after the company reported losses for its fiscal first half, described the financial results of its foray into large-scale online events as mixed.

Bottom line, it’s a big move by Amazon in an attempt to give its Kindle devices an edge against Apple’s iPad and Barnes & Nobles’s Nook, and boost Amazon Prime subscriptions at the same time.