Business
‘Australia’s Amazon’ debuts on ASX next week – Motley Fool Australia
Courtesy of COVID-19, books are back in vogue. Can Booktopia take advantage in its IPO?
For a company often labelled Australia’s version of Amazon.com Inc(NASDAQ: AMZN), Booktopia Group Limited (ASX: BKG) founder and chief Tony Nash doesn’t see the resemblance.
“Books are not a priority for Amazon anymore,” he told The Motley Fool.
“It’s less than 3% of their revenue now. Sure, it was 100% when they started out, and is a part of their DNA, but it’s not a priority for them.”
But Amazon did start as an online book store, so the comparisons are inevitable.
Booktopia’s initial public offering…
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