Amazon.com's chief executive Mr Jeff Bezos told viewers of the financial news network CNBC he stands by his previously stated pledge that the company would achieve a pro forma operating profit by the end of 2001.
"It's not a guarantee, but it's something we're working very hard on," Mr Bezos said regarding the company's bid for profitability. He added the pro forma operating numbers "are not crazy, made-up numbers," but a valid method of determining the company's rate of survival.
Shares of Amazon were up more than 5 per cent at the beginning of the trading day, rising 50 cents to trade at $10.70 on the Nasdaq.
"We do not need to raise cash," Mr Bezos said, reiterating that the company had about $650 million at the end of the most recent quarter. He said the company would not hit the capital markets to generate cash and would only look to raise funds for "strategic reasons," such as "for flexibility to cement a partnership with somebody," he said.
It was reported in today's issue of the Wall Street Journalthat the company was actively seeking new partnerships and, citing people close to the talks, said Amazon was in discussions with electronics retailer Best Buy Inc. and others.
Mr Bezos said on CNBC that Amazon has been looking to offline retailers because "that is where the sales are."