E-commerce giant Amazon (AMZN) has announced plans to end support for its Chime business collaboration app in 2026.
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In a blog post, Seattle-based Amazon said that it will discontinue Chime, which enables users to meet virtually, chat online, and place business calls inside and outside of an organization with a single application. Management said in the post that the Amazon Chime service, including the business calling feature, will end on Feb. 20, 2026.
As a result, Amazon Chime will no longer accept new customers effective immediately. Existing customers of Chime can continue to use the app for the time being, including the business calling, scheduling, and hosting meetings features.
Focus on Core Business
Amazon added that for users to qualify as an existing customer, they had to have created an Amazon Chime account prior to today (Feb. 19). It is not immediately clear why Amazon is abandoning the Chime app, which is used as a business collaboration tool by organizations large and small.
However, there has been a push at Amazon coming out of the Covid-19 pandemic to focus more on its core business areas that include e-commerce, cloud-computing, and streaming. Amazon has closed several smaller ancillary business units in recent years. The company has also let go more than 30,000 employees since 2022.
AMZN stock has risen 36% over the past 12 months.
Is AMZN Stock a Buy?
The stock of Amazon has a consensus Strong Buy rating among 48 Wall Street analysts. That rating is based on 47 Buy and one Hold recommendations issued in the last three months. The average price target on AMZN stock of $268.91 implies 18.66% upside from current levels.
