A newly unredacted portion of the Federal Trade Commission's antitrust lawsuit against Amazon says the company used a secret algorithm that essentially helped the company raise prices on other online sites.
FILE - The Amazon logo is seen, June 15, 2023, at the Vivatech show in Paris. Amazon used a secret algorithm that essentially helped the company raise prices on other online sites and destroyed some internal communications as the Federal Trade Commission was investigating the company, according to a newly unredacted portions of the agency's antitrust lawsuit against the e-commerce giant unveiled Thursday, Nov. 2.
In a prepared statement Amazon spokesperson Tim Doyle called the FTC’s claim “baseless and irresponsible.” The unredacted excerpts of the lawsuit disclosed on Thursday also provided more details on a talked-about algorithm, which was previously reported by The Wall Street Journal and former Vox reporter Jason Del Ray.
The agency said Amazon deployed Project Nessie in 2014 and has turned it on and off at least eight times between 2015 and 2019. In 2018 alone, Amazon used the algorithm to set prices for items that were viewed more than 400 million times by shoppers, according to the complaint.
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