Venture capitalists remember Joy Covey as woman who steered Amazon through its toddler years. The first Chief Financial Officer of Amazon died in a tragic biking accident Wednesday afternoon. In an interview with Bloomberg Businessweek, venture capitalist and former analyst at Morgan Stanley Mary Meeker recalled that Morgan Stanley helped Covey and Amazon raise USD 500 million. She said, "I am not sure Amazon.com would have survived through its toddler stage if Joy had not been the right person in the right place at the right time."
Another Silicon Valley venture capitalist Bill Gurley said, "She was ridiculously smart, and remarkably competitive, which obviously made for a great fit with Jeff." Brad Stone concluded his story on Covey by calling her the "singular force behind one of the most important companies of a new age."
Amazon, the company which Covey helped propel to the top, saw a rise of 22% to USD 15.7 billion for its revenues in North America. Forbes reported that despite a decrease in the second quarter earnings last July with a net loss of USD 7 million, analysts still see a strong growth for the year with earnings expected to increase by as much as 227%.
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