#amazon smile
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I encountered this article on LifeHacker, and my jaw actually dropped a little bit.
In short, 0.5% of any purchase you make on Amazon can be donated to a charity of your choice.
Now, 0.5% is certainly a small number, but it’s very important to note that Amazon operates at a very small profit margin. Despite being #49 on the Fortune 500 list, weighing in at a sizable $166 billion market cap, and raking in gross revenues north of $60 billion in 2012, Amazon makes only about $39 million in actual profit.
Just for the mathematically challenged readers out there, that means Amazon is making .065 % of its revenue in terms of profit. So this is a very rudimentary calculation, and certainly doesn’t take into account the complexity regarding why Amazon’s profits are so low, but essentially 76% of Amazon’s profits may now be going to charity.
Again, that’s probably not the whole picture, but it gives some perspective as to how much this 0.5% really is in terms of Amazon’s budget.
I, for one, applaud a company that would rather put its incoming cash to good use than horde it away. Certainly I’m not an investor in Amazon– those folks might not be so happy. But it’s a very respectable enterprise, and I love to see my favorite tech companies take more than their share of the U.S. corporate responsibility pie.
