Amazon makes only 1% in profit..how does it survive?

How does a company like Amazon survive?

In 2014 Amazon pulled $349 million in net profit on nearly $75 billion in revenue, less than 1% in profit on gross revenue. Most of their capital is being spent on expansion and Prime shipping.

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How do they do it? 

Matt Iglesias, Slate writer says:

“(Amazon is) a charitable organization being run by elements of the investment community for the benefit of consumers.”

@helloswat