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Amazon used an algorithm to essentially raise prices on other sites, the FTC says

AP Business Writer

A newly unredacted portion of the Federal Trade Commission’s antitrust lawsuit against Amazon says the company used a secret algorithm that essentially helped the company raise prices on other online sites. It also alleges Amazon executives intentionally deleted internal communication during the agency’s investigation into the company by using a feature on the popular app Signal that makes messages disappear. By doing this, the FTC says the company destroyed more than two years worth of communications from June 2019 to at least early 2022, despite instructions it gave Amazon not to do so. An Amazon spokesperson Tim Doyle called the allegations baseless and irresponsible. He also says the agency is mischaracterizing the Amazon pricing algorithm, which is named Project Nessie.

Article Topic Follows: AP National

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