Amazon - World's Largest Online Store

 

AMAZON

Amazon is an American multinational technology  company and one of the largest online marketplaces . Amazon orders  are delivered using common courier  services worldwide. It is considered  one of the biggest   technology company  in the world .

                                        

PAST OF AMAZON :

       Amazon was founded by Jeff Bezos  in July 1994   and he started his own company called Cadabra but he changes  it  when someone misheard it as Cadaver . In 1995 he decided to call his company as Amazon .

                                     

  

             

      After he started creating a business plan for amazon he drew up  list of 20 product that could be sold  on the internet  and narrowed the list to five

               1. Compact Discs

               2. Computer Hardware

               3. Computer Software

               4. Videos

               5. Books

He built his headquarters in Seattle  due to its large high tech  work force and proximity to a large book distribution center in Oregon and his parents invested  their life savings  in 1995 and Jeff Bezos set up the office in his garage along with two employees , he began developing software  and they extended a operation  into to a bedrooms house , with three Sun Micro stations , and eventually developed a test site.

                                    

In 1995 he raises an $8 million round of funding from Kleiner  Perkins.

In 1997 Amazon.com  held its initial public offering (IOP) at a price  of $18 per share .

Amazon sold books across the united state  and in 45 countries with in 30 days .  And its continued his growth in 1997.

In 1998 , amazon extended beyond books  and started  selling music  CDs, and by the following  year it had add more categories , such as toys ,electronics  and tools .

In 1999 Amazon had shipped 20 million items to 150  countries  around  the globe and by the following year the value of Kleiner Perkins investment in amazon created returns of  over 55, 000 percent.

In 2001 the company focused on cutting cost, laid off 1300 employees and closed a distribution facility

In 2002 Amazon launched its apparel store . The company reported a net loss of $149 million of the year. Amazon also required an online music retailer cd in 2003 .

 In 2005 held many new advertisements and acquisition for Amazon.com and in 2006 launched their print demand program as well as their online grocery store.

 In 2007 introduced the  very first  kindle  and launched the public beta version of Amazon MP3 .

AMAZON STATUS :

     Amazon is now the world most valuable brand according to a ranking of global companies . The amazon company  is worth $315.5 billion , according to Brandz top 100 most valuable global brand ranking for 2019,  it was ranked in third place after Apple and google .

Amazon annual  revenue for 2019 was $280.522 billon a 20.45% increase from 2018.

 

Some Facts About Amazon:

 Every staff member at amazon spend 2 days in every 2 years working in customer service department ,even the CEO does it.

Amazon went down for 49 minutes in2013 and they missed out sales worth $5.7 billion dollar  .

 PowerPoint presentations are banned at amazon instead of that team meeting start with 30 minutes reading any particular topic and share their thoughts on their topic .