by William White | June 21, 2013 12:00 pm
Microsoft (MSFT) recently shelved an endeavor to create an online marketplace.
The project, referred to as “Brazil,” was likely to create something that would be able to compete with other e-commerce sites such as Amazon (AMZN) and eBay (EBAY), reports the Wall Street Journal.
Microsoft denies that this was the idea.
“It is inaccurate to characterize Project Brazil as conceived to compete with Amazon or eBay,” the Microsoft spokesperson told Fox Business. “The project was a small-scale incubation effort to enable a more direct commerce model between customers and brands and merchants.”
Microsoft moving into a new market isn’t anything new. The company stepped into the video game market in 2001 with its Xbox, and gained a solid fan base with its current-generation Xbox 360. After the negative reaction the company earned at this year’s E3, Microsoft even changed some of the policies on its next-generation console, the Xbox One.
Source URL: http://investorplace.com/2013/06/microsoft-says-it-tabled-plans-for-amazon-like-site/
Short URL: http://invstplc.com/1fuMvzE
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.