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Online Retail Behemoth’s Monopolistic Tactics Under Fire; RedCloud’s AI-Powered Platform Empowers SMBs

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Amid accusations of monopolistic practices against Amazon by the FTC and 17 state attorneys general, Justin Floyd, CEO of RedCloud®, introduces Open Commerce as a revolutionary alternative. RedCloud’s AI-powered platform empowers small and medium-sized businesses (SMBs) with instant inventory visibility, reducing inefficiencies, and preventing counterfeit goods. Floyd criticizes traditional eCommerce as predatory and calls for a transparent trading system to promote fairness and growth, positioning Open Commerce as a game-changer in online retail.

LONDON, June 10, 2024 /PRNewswire-PRWeb/ — According to Google, a monopoly is “the exclusive possession or control of the supply of or trade in a commodity or service.” In September 2023, the Federal Trade Commission (FTC) and 17 state attorneys general concluded that Amazon, the world’s largest online retailer, fits that bill, alleging in a lawsuit that Amazon is a monopolist that employs anti-competitive and unfair methods to perpetuate its supremacy in the eCommerce domain illegally. (1) Justin Floyd, Founder and CEO of RedCloud, observes, “In the current eCommerce climate, it seems as if there is no real viable alternative to Amazon. But there is: Open Commerce, which is poised to unseat eCommerce as the best way for online retailers to do business. The second generation of eCommerce is here, and it’s time to set this retail revolution in motion.”    

“In the current eCommerce climate, it seems as if there is no real viable alternative to Amazon. But there is: Open Commerce, which is poised to unseat eCommerce as the best way for online retailers to do business.”

The world needs an open and transparent trading system that unlocks the supply chain and empowers businesses to grow and flourish. That system is Open Commerce. RedCloud is on a mission to democratize the way online retail is done. RedCloud’s AI-powered platform cuts through the chaos by providing millions of small and medium-sized businesses (SMBs) with instant visibility of their inventory, helping to resolve inefficiencies and identify and prevent counterfeit goods from entering the supply chain.

Among the FTC’s allegations against the retail giant is Amazon’s “exclusionary conduct” that stifles the growth of current and emerging competitors with “punitive and coercive tactics” and “preventing its current or future rivals from attracting a critical mass of shoppers and sellers.” (1) Third-party sellers, primarily small and medium-sized businesses, are responsible for 60% of Amazon’s total sales. (2) Third-party sellers are Amazon’s most valuable commodity; however, a survey by Marketplace Pulse reports that Amazon siphons off 50% of all third-party sales—a 15% referral fee, a 20% to 35% Fulfillment by Amazon (FBA) fee, and up to 15% for advertising and promotions. (3)

Then there’s “Project Nessie,” an algorithm deployed by Amazon to control pricing. Nessie identified profitable products and raised their prices, encouraging other online retailers to do the same, inflating consumer spend. According to the FTC, Nessie generated over $1 billion in excess profits for Amazon. (4) The FTC lawsuit also points to Amazon’s “anti-discounting strategy” that punishes third-party sellers if they offer lower prices by dropping them so far down the search results hierarchy that they essentially disappear into oblivion. (1)

Reuters examined a trove of Amazon’s documents, including emails, strategy papers, and business plans, revealing a corporate strategy to create knockoffs of its competitors’ products. The internal documents showed that Amazon studied the proprietary data of other brands on its site to identify and copy products as a “reference” or “benchmark.” They replicated the products and then rigged search results to steer consumers to Amazon’s private brands. (5)

Another issue is the proliferation of counterfeit items on Amazon’s platform, which reportedly comprises up to 60% of its products. (6) One study analyzed a whopping 33.5 million reviews for Amazon’s bestselling products and found that 43% of them were fake. (7) Social media influencers can earn over $2,000 per month through Amazon Vine or the Amazon Influencer Program to review and recommend products. (8)
Floyd contends, “Amazon creates an artificial economy for consumers. Its lack of transparency creates an illusion of what it means to shop online. By not providing accurate information, people frequently must buy the same item three times over until they get what they were looking for in the first place. And despite the massive number of products available, consumers actually have fewer choices because they are Amazon’s choices.”

There is a common misconception that most third-party sellers owe their existence solely to Amazon, and there is some truth to that within the framework of traditional eCommerce. However, industry giants are not immune to shifts in consumer behavior. Blockbuster Video, once the unquestioned leader in at-home entertainment, was done in by the convenience, choice, and instant gratification of on-demand streaming services.
Traditional eCommerce is predatory and controlling, solely benefitting big-tech providers who own all the data and try to own the entire supply chain. This centralized model is eradicating small businesses by restricting access to the tools needed to drive growth.

Floyd explains, “Third-party sellers are two million strong. Imagine amassing that strength to turn the tables. It’s all about purchasing power. If you get the purchasing right, then the selling takes care of itself. Open Commerce grants SMBs more autonomy and freedom to engage with trusted trading partners who provide authentic, top-quality products, leveling the playing field of online trade.”

RedCloud’s Intelligent Open Commerce Platform™ gives SMBs the keys to the eCommerce kingdom.

About RedCloud    
RedCloud Technology, founded in 2012, stands as a “Rebel Alliance,” leading a bold, second-generation e-commerce transformation. Rejecting the high fees of tech giants, RedCloud leverages AI-driven supply chain solutions to empower smaller businesses, giving them the tools to compete with major corporations. Their democratized, cloud-based platform provides real-time financial visibility, offering a level playing field that breaks free from the dominance of conventional marketplaces. RedCloud embodies a fairer, more inclusive digital commerce future where Davids can stand tall against Goliaths. For more about RedCloud Technology visit their website at https://redcloudtechnology.com/.

References:

Staff in the Office of Technology and The Division of Privacy and Identity Protection. “FTC Sues Amazon for Illegally Maintaining Monopoly Power.” Federal Trade Commission, 5 Dec. 2023, ftc.gov/news-events/news/press-releases/2023/09/ftc-sues-amazon-illegally-maintaining-monopoly-power.Pymnts. “Amazon Says Third-Party Sellers Drive 60% of eCommerce Sales.” PYMNTS.Com, 24 May 2023, pymnts.com/amazon/2023/amazon-independent-sellers-make-up-60percent-of-ecommerce-sales/.Amazon Is Taking Half of Third-Party Seller Revenue – Thestreet, thestreet.com/investing/heres-how-much-amazon-takes-from-every-third-party-sale. Accessed 15 May 2024.Press, Associated. “Amazon Used an Algorithm to Essentially Raise Prices on Other Sites, FTC Says.” Maryland Daily Record, 2 Nov. 2023, thedailyrecord.com/2023/11/02/amazon-used-algorithm-to-secretly-raise-prices-and-destroyed-internal-messages-ftc-says/#:~:text=Amazon%20used%20a%20secret%20algorithm,against%20the%20e%2Dcommerce%20giantAmazon Copied Products and Rigged Search Results, Documents Show, reuters.com/investigates/special-report/amazon-india-rigging/. Accessed 15 May 2024.Sravanthi Munagapati Sravanthi works as a Marketing Manager at SellerApp. She helped successful D2C brands launch. “A Quick Guide on Amazon Counterfeit Products 2023.” SellerApp Blog, 26 Oct. 2023, sellerapp.com/blog/amazon-counterfeit-products/.Millions of Amazon Reviews Fake, Study Finds | Cybernews, cybernews.com/security/millions-amazon-reviews-fake/. Accessed 15 May 2024.Loper, Nick. “7 Real Ways to Get Paid for Amazon Reviews in 2024: $2000+/Mo.” Side Hustle Nation, 15 Mar. 2024, sidehustlenation.com/get-paid-for-amazon-reviews/.

Media Inquiries:
Karla Jo Helms
JOTO PR™
727-777-4619
jotopr.com

Media Contact

Karla Jo Helms, JOTO PR™, 727-777-4629, khelms@jotopr.com, jotopr.com

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SOURCE RedCloud 

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Comcast RISE to Provide 100 Grand Rapids and Muskegon Small Businesses with Comprehensive Grant Packages

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Comcast RISE to Award $3 Million in Grants to 100 Local Small Businesses

GRAND RAPIDS, Mich., April 10, 2025 /PRNewswire/ — Today, Comcast announced Grand Rapids, Muskegon, and surrounding areas will be one of five regions where eligible small businesses will have the opportunity receive grants through Comcast RISE. The program will provide 100 small businesses with comprehensive packages that include a technology makeover, creative production, a media schedule, educational resources, a $5,000 monetary grant, and business consultation services.    

Beginning on May 1, and through May 31, eligible businesses in Grand Rapids and Muskegon can apply for a grant package at www.ComcastRISE.com.

Grant packages will include:  

TECHNOLOGY MAKEOVER – Computer equipment and Internet, Voice, and Cybersecurity services for 12 months. (Taxes and other fees may apply for tech makeover services.)CREATIVE PRODUCTION & MEDIA – Professionally produced 30-second TV commercial, plus a media strategy consultation and a 180-day linear media schedule. (Taxes and other fees may apply for production and media services.)EDUCATION RESOURCES – 12-month access to online entrepreneurship courses, learning modules, and resources for small business owners.MONETARY GRANT – $5,000 monetary grant.COACHING SESSIONS – Business assessment and coaching that provides business owners with recommendations on how to help grow their businesses.

“Small business owners in Grand Rapids and Muskegon serve as the economic and innovation engines of their communities,” said Sonya Callahan, Regional Vice President, Comcast Business, Heartland. “Comcast RISE is all about uplifting local entrepreneurs, supporting the growth of small businesses, and our continued commitment to their success.”

Grand Rapids and Muskegon are home to a number of former Comcast RISE winners, including Delight in Designs (Grand Rapids), Body Builders Collision & Custom Cars (Kentwood), A Solution B (Wyoming), and Servicios De Esperanza (Muskegon).  

“The saying is, ‘business is never personal’ – but we take the opposite approach,” said Christian Boyd, owner of Body Builders Collision & Custom Cars. “We’re so grateful to provide a service to the community, and I’m very grateful we were chosen to participate in Comcast RISE. For any eligible business thinking about applying for Comcast RISE this year, just go for it. It’s an awesome opportunity you can’t afford to pass up.”  

A total of 100 grants per region, or 500 grants overall, will be announced in August. This year’s recipients, across Grand Rapids and Muskegon, Boston, Nashville, Seattle, and South Valley, UT, will join the 14,000 entrepreneurs nationwide who have been supported through Comcast RISE since the program launched in 2020. 

Comcast RISE is part of Project UP, the company’s comprehensive initiative to create digital opportunity and help build a future of unlimited possibilities.  

More information on eligibility requirements and details on how to apply are available at  www.ComcastRISE.com.

About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.   

Media Contacts: 
Amy Pietzak 
248-318-8905 
amy_pietzak@comcast.com
https://michigan.comcast.com/

Samantha VanHoef
734-478-7118
samantha_vanhoef@comcast.com
https://michigan.comcast.com/ 

View original content to download multimedia:https://www.prnewswire.com/news-releases/comcast-rise-to-provide-100-grand-rapids-and-muskegon-small-businesses-with-comprehensive-grant-packages-302426038.html

SOURCE Comcast

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Cognex Announces First Quarter 2025 Earnings Release and Conference Call Dates

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NATICK, Mass., April 10, 2025 /PRNewswire/ — Cognex Corporation (NASDAQ: CGNX) will release earnings for the first quarter of 2025 on Wednesday, April 30, 2025, after market close.

The Company will host a conference call on Thursday, May 1, 2025, at 8:30 a.m. Eastern Daylight Time (EDT), to discuss the results.

Access to the conference call, and a replay that will be available following the call, may be found on the Cognex Investor Relations website at https://www.cognex.com/investor. The telephone number for the live call is (877) 704-4573 or (201) 389-0911 if outside the United States.

About Cognex
Cognex Corporation invents and commercializes technologies that address some of the most critical manufacturing and distribution challenges. We are a leading global provider of machine vision products and solutions that improve efficiency and quality in high-growth-potential businesses across attractive industrial end markets. Our solutions blend physical products and software to capture and analyze visual information, allowing for the automation of manufacturing and distribution tasks for customers worldwide. Machine vision products are used to automate the manufacturing or distribution and tracking of discrete items, such as mobile phones, electric vehicle batteries and e-commerce packages, by locating, identifying, inspecting, and measuring them. Machine vision is important for applications in which human vision is inadequate to meet requirements for size, accuracy, or speed, or in instances where substantial cost savings or quality improvements are maintained.

Cognex is the world’s leader in the machine vision industry, having shipped more than 4.5 million image-based products, representing over $11 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia. For details, visit Cognex online at www.cognex.com.

Investor Contacts:
Greer Aviv – Senior Investor Relations Consultant
Jordan Bertier – Sr. Manager, Investor Relations
Cognex Corporation
ir@cognex.com

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SOURCE Cognex Corporation

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Laboratory Services Cooperative Notifies Individuals of Security Incident

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SEATTLE, April 11, 2025 /PRNewswire/ — Laboratory Services Cooperative (LSC), a non-profit organization based in Seattle, Washington, is encouraging individuals to take precautionary measures to protect their information following a security incident.

LSC provides lab testing services to select Planned Parenthood centers. If you, or someone whose healthcare bills you pay for, visited one of these centers and had lab tests done or were referred for lab tests, your information might be part of this incident.

Please be advised that this incident did not involve all Planned Parenthood centers. It specifically may have impacted only those centers that received lab testing services from LSC. It is important to note that LSC began providing services to these centers at different times, with some partnerships starting as recently as the past few years. For a list of states where LSC partners with Planned Parenthood centers, individuals can visit the FAQ section of LSC’s website notice available at https://www.LSCIncidentSupport.com.

On October 27, 2024, LSC identified suspicious activity within its network. In response, LSC immediately engaged third-party cybersecurity specialists to determine the nature and scope of the incident and notified federal law enforcement. The investigation revealed that an unauthorized third party gained access to portions of LSC’s network and accessed/removed certain files belonging to LSC.

LSC promptly initiated a review and engaged a third-party vendor to help identify whose information may be potentially involved and to what extent.

In February 2025, LSC received the initial results of the data review, revealing that certain LSC patient and worker-related data might be affected.

The specific information involved is not the same for everyone. It depends on the individual’s relationship with LSC but may include contact details such as name, address, phone number, and email, along with one or more of the following categories:

Medical/Clinical Information: This may include information such as date(s) of service, diagnoses, treatment, medical record number, lab results, patient/accession number, provider name, treatment location, and related-care details.

Health Insurance Information: This may encompass plan name, plan type, insurance companies, and member/group ID numbers.

Billing, Claims, and Payment Data: This could involve claim numbers, billing details, bank account details (including bank name, account number, and routing number), billing codes, payment card details, balance details, and similar banking and financial information.

Additional Identifiers: This may include Social Security Number, driver’s license or state ID number, passport number, date of birth, demographic data, student ID number, and other forms of government identifiers.

For LSC workers, the information involved may also include details about their dependents or beneficiaries if that information was provided to LSC.

The confidentiality, privacy, and security of information maintained by LSC remains its top priority. As a precaution, LSC has hired third-party cybersecurity specialists to monitor the dark web for any information that may have been accessed or taken without authorization during this incident. The dark web is a hidden part of the internet where unauthorized activities and data exchanges often happen.

The cybersecurity specialists hired by LSC are using tools and techniques to scan various dark web forums, marketplaces, and other platforms. As of this writing, they have not found any evidence that information involved in this incident is on the dark web.

LSC has set up a website to help individuals learn more about the incident and to provide resources to protect their information. These resources include free credit monitoring and medical identity protection services through CyEx Medical Shield Complete. To learn more or to sign up for these services, please visit https://www.LSCIncidentSupport.com. Any updates regarding the incident will be posted on https://www.LSCIncidentSupport.com, so individuals are encouraged to visit it periodically.

LSC has also established a dedicated call center for individuals to call with any questions or concerns. The toll-free call center can be reached at 1-855-549-2662, available Monday through Friday from 9:00 AM to 9:00 PM ET.

Individuos pueden obtener información relacionada con este incidente en español llamando al centro de llamadas gratuito exclusivo de LSC al 1-855-549-2662.

View original content:https://www.prnewswire.com/apac/news-releases/laboratory-services-cooperative-notifies-individuals-of-security-incident-302426009.html

SOURCE Laboratory Services Cooperative

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