How amazon started?

A largest e commerce company in the world.
Amazon started as an online book retailer in 1995 by Jeffrey P. Bezos in his home in Washington USA has launched in India in June 2013. Which started in an small online book website soon became one of the biggest retailers in the world.

  • Established -5 July 1994
  • President,CEO and Chairman – Jeff Bezos
  • CEO- Andy Jassy
  • CFO-Brian Olsavsky
  • Founder – Jeff Bezos
  • Headquaters – Seattle, Washington, US
  • Industry-e-commerce
  • Initial capital- $10,000
  • Area served -worldwide
  • Revenue – US$386.064 Billion (FY-2020)
  • No. of Employees -129800 (Dec 2020)
  • Services -Retail store
  • Amazon Alexa
  • Amazon Appstore
  • Amazon Music
  • Amazon Prime
  • Amazon Prime Video
  • Amazon Web Services

How Amazon started ?


While working on Wall Street in 1994 Bezos was 30 years old, he found internet revolution took place. This made quit his job and start a e-commerce company. Initially he found that web usage was growing at 2300 % a year. As it was very unusual, things just don’t grow that much fast so he started thinking that “what kind of business can make sense in the context of that change ?”
He started pen down the things that can be sold on internet. Finally it started on book because of low cost and high demand out of his garage. Within 30 days , he generates $20,000 per week .

Funds:

Initially the startup capital for amazon.com was invested by Jeff parents i.e $10,000 who don’t ever heard about internet. His dad first questioned “what is internet ?” But he truly trusted on Bezos and bet on him
Amazon raise a series of fund from kleiner Perkins Caufield and Byers of $8M in 1995.And in 1997 Amazon went to public to raise funds
at $18 per share 8.In 1999 kleiner Perkins Caufield and Byers investment created a return valuation of 55000% which named Bezos as “Person of the year ” in time magazine for popularising e-commerce.

Journey of Amazon:

  • 1994- Bezos quit job and launches Amazon.com.
  • 1995- Raise fund from kleiner Perkins Caufield and Byers
  • 1997- Raise fund from public.
  • 1999- Declared “Person of the year ” by Time Magazine.
  • 2002- Amazon launches Amazon Web Services (AWS)
  • 2006- Amazon launches Elastic Compute Cloud (EC2)
  • 2012- Amazon bought Kiva System.
  • 2015-Amazon increased Walmart as the most valuable retailer in US.
  • 2017- Amazon purchased whole Food Market .
  • 2018-Amazon prime promised 2 day delivery
  • 2020- Amazon has highest Global brand valuation

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