In a new effort to strengthen its relationship with the start ups, Amazon launches the Amazon Web Services Pro-Rata program. The Pro-Rata program is headed by Jason Hunt and Brad Holden; both of them are part of the business development team of the AWS. This program works by providing opportunities from the AWS system and connecting family offices and venture capitalists to these.
By persuading big companies and government agencies, AWS has been able to build a tech enterprise giant worth $25 billion and it accounts for majority of Amazon’s profit. The Pro-Rata program actually targets a certain section of companies and thus helps them get access to the deals.
In their emails, three companies and four firms were listed by AWS as raising capital. These include Boom ($100 million) which is a supersonic jet company, Roman ($50 million) which is the producer of men’s health products and Freight Waves ($20 million) which is a data and analytics provider for freight market. The investments for these would be ranging between $20,000 and $500,000 and should be made by late January.
The New York based firm, Torch Capital was one among the four venture funds and was raising a fund of $60 million. The others are Story Ventures raising a fund of $30 million and Shrug Capital raising a fund of $10 million. The fourth one is Liquid Ventures but its fund has not yet been disclosed.
Boom is into building jets with twice the speed of sound to fly over oceans. This is designed for 55 passengers and would be available for the same price as that of a business class ticket. Roman is finding ways to treat hair loss, genital herpes and erectile dysfunction.
The email said that investments would be made from trusted managers only but the participants must be cautious while making their investments. The email doesn’t say anything about how Amazon will be making money out of this project.
Solomon has an electrical engineering degree, Despite being an electrical engineer, Solomon loves to explore the world of technology. Seeing his passion towards technology and gadgets, Report Truths handed over the responsibility of covering technology updates to Solomon. Besides being a geek, he is famous as a problem solver and a total food junkie.
- Email: firstname.lastname@example.org
- Phone: +61 2 8434 2150