Reality is Different ..... Amazon.com Example Founded in 1995;1st Internet purchase for most people ■1996：$16 M Sales,$6 M Loss ■1999：$1.6 B Sales,$720 M Loss ■2000：$2.7 B Sales,$1.4 B Loss Last quarter of 2001:$50M Profit,Total debt:$2.2B Peapod Example ■Founded in1989 140,000 members,largest on-line grocer Revenue tripled to $73 million in 1999 1st Quarter of 2000:$25M Sales,Loss:$8MReality is Different …… „ Amazon.com Example „ Founded in 1995; 1st Internet purchase for most people „ 1996: $16M Sales, $6M Loss „ 1999: $1.6B Sales, $720M Loss „ 2000: $2.7B Sales, $1.4B Loss „ Last quarter of 2001: $50M Profit, Total debt: $2.2B „ Peapod Example „ Founded in 1989 „ 140,000 members, largest on-line grocer „ Revenue tripled to $73 million in 1999 „ 1st Quarter of 2000: $25M Sales, Loss: $8M