- Amazon reportedly used a secret algorithm called “Project Nessie” to increase prices that U.S. households pay, potentially earning $1 billion.
- Amazon’s strategy to counter the threat posed by Jet.com, which offered lower prices online, included removing sellers’ offers from the Buy Box if lower prices were found on Jet.com.
- Walmart acquired Jet.com in 2016, which led Amazon to take measures against the competition.
- Amazon also allegedly employed anti-competitive algorithms against Jet.com’s popular products to hamper its pricing strategy.
- Amazon refuted the allegations, stating that it ceased using the pricing tool years ago, while Walmart did not comment on the FTC litigation.