What lies ahead for Amazon and its new CEO

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February 6, 2021

Jeff Bezos' stepping down comes on the heels of Amazon's biggest online sales quarter ever.

The Amazon founder will be stepping down as CEO in Q3 and handing the reins over to Andy Jassy, who leads the Amazon Web Services team and joined the firm in 1997.

His announcement comes on the heels of Amazon's biggest online sales quarter ever, driven by Prime Day and the ecommerce-heavy holiday season.

However, Bezos is leaving Jassy to contend with some challenges, including antitrust scrutiny, union talks among workers, and growing retail competition.

Insider Intelligence's Adriana Nunez has the full story.

BRIEFING HIGHLIGHTS

Robinhood receives cash injection to steady the ship

Robinhood raised $2.4 billion in convertible debt financing to cover deposit requirements and resume certain stocks' trading.

Biden-led financial regulators get ready to crack the whip

Biden's team is already laying out plans to bolster the role of regulators in the finance industry—here's what that means in practice for banks.

Global insurtech funding reached record high in 2020

Global insurtech funding reached $7.12 billion across 377 deals this year, and Life & Health insurtechs will further accelerate funding in 2021.

Amazon expands its biometric payment offering to more stores

Amazon is bringing its hand-scan payment technology to more Amazon Go stores as it looks to drum up interest for its biometric payment tech.

Goldman Sachs to shutter Clarity Money, doubling down on Marcus

Goldman Sachs will close its Clarity Money personal finance management app to instead concentrate on building up Marcus Insights.

Visa's fiscal Q1 2021 volume was helped by debit spending

Visa reported an uptick in overall payments volume, lifted mostly by debit as consumers continue to forgo credit card spending.

National Australia Bank gobbles up challenger 86 400

National Australia Bank's (NAB) purchase of 86 400 marks the second neobank exit from the market in as many months.

Next Insurance doubles gross written premium with AI-powered coverage

Next Insurance's AI-powered coverage has proved increasingly popular among small businesses during the pandemic.

UK government clamps down on buy now, pay later players

Installment lending firms will now be under regulatory oversight from the UK's Financial Conduct Authority.

PayPal makes strides in Q4 and looks to race further into crypto

PayPal's total payment volume climbed 36% year over year in Q4, and it may see additional growth down the line.

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