When it comes to shopping online, the first brand that comes to mind is Amazon and yes this is ahead of China’s Alibaba. Right now, it is estimated that the company gets 66,000 orders in an hour and that’s 1.6 million orders in just one day.
Jeff Bezos is the brain behind one of America’s most powerful businesses with a market capitalization of more than $1 trillion. He founded the company in 1993 after resigning from D.E Shaw where he was serving as senior vice-president but it originally was an online bookstore before more and more products were added to it.
Today, Amazon is not known for its e-commerce arm but for other services such as cloud computing, entertainment, and artificial intelligence (AI).
Although, by revenue, it is one of the largest companies in the world that makes money off the internet if not the biggest but the company has always been in news for many negative things. It has been accused of tax avoidance, anticompetitive behaviors & practices, and more. Also, the founder of the company has always been known to be cold-blooded towards his employees working at the company despite all of its success.
Amazon Wiki and History
On July 5th, 1994, Jeff Bezos incorporated Cadabara Inc. in Seattle, Washington. This was after he resigned from his former job so as not to miss out on the internet boom which occurred in the 90s. Some months later, he changed the name of the company to Amazon which was inspired by the biggest river in the world.
Bezos set to work and after months of researching, he settled to sell books online. Nevertheless, he was still going to expand and add more products later. He was given a seed fund of almost $300,000 which set him up as the company’s first location was in the garage of his rented home in Washington.
The company saw success early and in the first few months after opening had sold to more than 50 countries. They had also delivered to almost all the states in the US. Sales were really good and it was seeing $20,000 a week in revenue.
In 1996, the company was reincorporated in Delaware and by May 1997, the company went public via IPO on NASDAQ with an $18 per share.
Between 1997 and 1998, the company was sued by two big companies or corporations but they were all settled out of court.
In 1998, the online shopping website expanded and started selling both music & videos. It expanded its product catalog in 1999 and introduced products in the categories of video games, consumer electronics, home improvement items, software, games, and toys.
Fast forward to 2001, there was a dot-com bubble burst which hurt many companies but Amazon.com was able to scale through and survive. It was in Q4 of 2001 that the company made its first profit ever since the launch after making $1 billion.
In 2002, with the help of an employee with the company, Andy Jassy, Amazon Web Services (AWS) was launched and ever since then has been the most profitable aspect of the business.
Amazon Prime, a subscription-based service that gives users access to premium and additional services from the brand itself was launched in 2005. It was launched with a flat fee of $79 per annum. In 2006, FBA (Fulfillment by Amazon) was launched.
On March 19th, 2012, the company made an acquisition that was significant and helps it today when fulfilling orders. They bought Kiva Systems for $775 million. Kiva Systems is a robotics company that creates robots with the sole purpose of moving items efficiently in a warehouse.
In 2017, the company announced its plan to open a new headquarters known as HQ2, and by 2019 after deciding to locate it in New York, the company canceled the proposed HQ2 location in the state but still has plans to build it in Northern Virginia.
The eCommerce giant in 2017 purchased Whole Foods for $13.5 billion in a bid to challenge the presence of Walmart as a physical retailer.
In 2020, the company announced more than $380 billion in revenue.
|Nasdaq as AMZN|
Senior vice-president and CFO
|Seattle, WA, United States|
|500 000-1 500 000|
FAQs About Amazon
Here are some frequently asked questions about online retailers.
What does the Amazon logo mean?
It simply means that the company sells any kind of product from “A-Z”.
How can I order from Amazon without an account?
No, you need an account in order to make a purchase.
Is making an Amazon account free?
Yes, it is.
Can I use a Firestick without an Amazon account?
You actually need a regular account to use it but you don’t necessarily need a Prime account.
Due to its vast interest, the company has companies under it that are either invested in, acquired, or built from scratch. They all include:
- Amazon Maritime
- Annapurna Labs
- Beijing Century Joyo Courier Services
- Brilliance Audio
- Health Navigator
- Kuiper Systems
- Whole Foods Market
- Click here to login into your account.
- Click here to create/register an account or sign up
- Login to Amazon Jobs
To shop on the website is easy and if you don’t know-how, we can help with these simple steps outlined below.
- Create an account or sign in if you already have an existing account.
- On the homepage choose the category you might be interested in or you can just search for it.
- It is important you note that an item or product you are looking for might not be available but if it is “Add to Cart”.
- Proceed to checkout.
- Enter your shipping and billing address
- Choose a valid payment method
- Place your order and you are done.
Amazon Jobs and Careers
Although, the company focuses a lot on making its customers happy and they in turn are loyal. This will make them keep coming back to shop and buy products from the online shopping website. This can only be achieved with efficient workers and employees.
Working with Amazon might be a dream come true for anybody who lands a good job from them but lots of ex-employees, current employees, and outsiders complain about the wages being paid at the company.
If you are interested in applying for jobs there, please visit here.
Here is their icon or favicon below,
Here is the full logo below,
Amazon Net Worth
The company is worth about $1.5 trillion.
David is a content writer with interests in fields like politics, tech, and finance. David has been writing since he was a little kid (only the Universe knows the exact year 😊 ). Writing has been a passion for a long time and now it is a profession for him. He is the brain behind Mafian Media, the parent company to media sites such as Zimapp.com