Startup Story of Amazon – Amazon is the biggest e commerce platform in the world. It is one of the oldest platforms in the world selling online stuff. Jeff Bezos is the owner and the founder of Amazon. Jeff completed his college degree in Bachelor of Science degrees in electrical engineering and computer science from Princeton University.
Jeff worked for the companies like Intel and Bell Labs and then he started working for a startup called Fitel. Bankers is the next company that he joined and he had also worked for D. E. Shaw & Co. He was earning a six figure salary from the bank as he became the youngest senior vice president of the bank.
Startup Story of Amazon – “I came across the fact that Web usage was growing at 2,300 percent per year. I’d never seen or heard of anything that grew that fast, and the idea of building an online bookstore with millions of titles — something that simply couldn’t exist in the physical world — was very exciting to me“, said Bezos, in his 2010 Princeton address. His initial thought and plan was to create a platform like Amazon that would be a marketplace.
Startup Story of Amazon
After a lot of plans and research, they finally launched in 1994. They started from the garage of the house in the flat they rented. If Jeff Bezos and his wife MacKenzie wouldn’t have initially incorporated the company as Cadabra then there wouldn’t have been any Amazon today.
They started with 5 employees and started learning how to source books and set up a computer system that would make online shopping easy. They finally launched their website in 1995. The tagline of their brand was Earth’s Biggest BookStore.
In just three years, the company that started with 100 employees and drawing sals of more than $15.7 million to the company having 3000 employees with drawing more than $610 million sales. The rate at which the sales of Amazon increased was drastic at a rate of 3000%. They also became the country’s third largest book selling platform.
After the book section, they soon started to move to the genres like music, pharmacy, and gifts. They added clothing in 2002. By 2004, Amazon became the biggest online platform of the world. They just started with books and sold everything by this time.
Startup Story of Amazon
Amazon expanded its boundary of products inventories to take advantage of the growing number of online shoppers. This time during 2004, their revenue was $6.9 billion and it increased to $8.5 billion in 2005.
In the last decade, they also started with their Amazon Prime program and free two day shipping programs. They also introduced a lot of things like Amazon Kindle, Amazon Firestick, Alexa, amongst the main Amazon products.
From this time till now, the revenue of the company kept growing by being doubled up every year. The revenue of Amazon today is huge in numbers and they also own the companies like Zappos and Twitch. They have also established their remarks in various other countries.
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