Jeff Bezos: Amazon.com’s S3 is not profitable right now

Amazon’s Chief Executive Officer Jeff Bezos has admitted that their much talked about Web services business isn’t profitable.

He added that this business is growing at a rapid pace and they expect to make it profitable in the coming years.

Amazon Web Services was originally launched in 2004 and is loved by web publishers who have massive demand for server computing power and storage space.

Amazon offers them hosted IT infrastructure services at a low cost. Amazon’s S3 has grown rapidly in the recent months and it how hosts more than 5 billion object today.

Bezos added: “Managing bandwidth, buying servers, negotiating with hosting companies: none of this stuff helps your idea be any better or gets your product faster to market.”

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