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The rate is not growing: 2015Q1 49%, 2014Q1 69%.

> “Amazon Web Services is a $5 billion business and still growing fast -- in fact it’s accelerating,

Revenue 2013: $1000 Revenue 2014: $1690 (+ $690) Revenue 2015: $2518 (+ $828)

With those figures you could still argue that growth (in terms of extra revenue per year) is accelerating.

Still even more impressive is AWS keeps dropping prices year after year and has impressive revenue growth.