Amazon.com files $2 billion cash boost

Bookstore seeks further funding as losses mount

Amazon.com is seeking to raise $2 billion through the sale of debt and securities, according to a statement filed with the US Securities and Exchange Commission. The self-styled world's largest bookshop didn't specify what it will use the money for -- "general corporate purposes", was all it said -- but when you're continually spending money to fund growth and new services, while failing to generate enough revenue to cover it, $2 billion is bound to come in handy. Amazon's plan is to register securities at some point in the not-too-distant future, and sell them over time as needed. It's essentially a way of borrowing money cheaply on the promise of eventually making enough money to pay it back. The company continues to lose money and recently warned that it would not only continue to post quarterly losses but that they were likely to increase. That said, Amazon's revenue is growing, and the ongoing strength of its stock suggests investors are willing to cut it some slack for some time to come. ®

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