SeattleAmazon overcharged advertisers $20 billion, regulators say.
Small sellers who must buy Amazon ads to be seen absorb the cost.
The Federal Trade Commission says Amazon used an invented rival bid to push prices toward each advertiser’s own maximum.
Twenty-two states joined the suit, filed Monday in Amazon’s home state of Washington.
How each outlet framed it
drawn from 90+ reports worldwide
- Bloomberg Business
- BBC
- TechCrunch
- details the 'second-price' auction deception that convinced 500k+ businesses to overbid
Sources: Bloomberg Business, BBC, TechCrunch