By Sebastian Herrera

The chief executives of Amazon.com Inc., Apple Inc., Facebook Inc. and Google are appearing Wednesday before the House Antitrust Subcommittee investigating the market dominance of online platforms.

The CEOs submitted their prepared remarks Tuesday, and have been given five minutes each to hit the highlights now.

Jeff Bezos opened his prepared remarks by discussing one of his favorite talking points: Amazon's obsession with satisfying customers.

Mr. Bezos often mentions Amazon's prioritization of customers in public appearances and interviews to make a point about what drive's Amazon's competitiveness -- a timely topic for today's heating.

The CEO also discussed his company's support of third-party sellers, which he has said now accounts for approximately 60% of sales on Amazon. Amazon couches this as a success for small businesses, but it also creates high revenue for the e-commerce giant. Besides giving up a cut of sales to Amazon, sellers pay Amazon to fulfill orders and run sponsored listings on the site, among other costs.

Amazon's treatment of third-party sellers on its site is expected to be a consistent theme in today's hearing. While Amazon has denied in the past that it uses proprietary data from third-party businesses to form its own products, reporting from The Wall Street Journal in April showed otherwise.

(END) Dow Jones Newswires

July 29, 2020 14:05 ET (18:05 GMT)

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