Amazon is an American Multinational Company based in Washington, which focuses especially on E-commerce, digital streaming and cloud computing over the internet. Its headquarters are in Seattle, Washington. It is one of the Big Five companies in the U.S. along with Google, Apple, Microsoft, and Facebook. The company has been referred to as "one of the most influential economic and cultural forces in the world", as well as the world's most valuable and trusted brand.
Amazon was founded by Jeff Bezos in Washington city, on July 5, 1994. Jeff Bezos choosing the name Amazon primarily because it began with the first letter of the alphabet and its association with the great South American river. Jeff Bezos was working as a stockbroker on Wall Street before starting an amazon startup. Today we talk about the success story of the innovative founder of Amazon and the history of opening amazon. Jeff Bezos is one of the most successful technology tycoons in the world currently. He is the founder and CEO of Amazon, which is the largest retailer company on the world-wide-web which he started in the garage of his rented house with limited resources of personal saving. it was just the beginning of a bright future.
The initial startup capital came from his parents personal savings they invested a large fraction of their life savings and fought became amazon.com after getting an immense amount of traction from the customers. Amazon raised a series. Funding of 8 million dollars in 1995. In 1997 amazon went public to raise additional capital. Within two months after the funding amazon fields were out to $20,000 dollar a week however the company has continued to plow the revenue back into the ground but the profit remaining nearly zero-dollar or below and revenue just kept rising post the success of amazon.com Jeff Bezos expanded his business to several other verticals and many other products were added to amazon.com through retail joint ventures It started as an online marketplace for books first but expanded to sell electronics, software, video games, apparel, furniture, food, toys, and jewelry. In 2015,
Amazon surpassed WALMART as the most valuable retailer in the United States. The company has become a real model of every online retailer in the world. Standing on the 5th part on the Forbes list of the billionaire of the world.
The company market cap in 2021 stand over $295 billion the dollar which was started out of garages of owner 30 years back the year was 1994 and Jeff was working diligently on wall street at 30 years old. He began to see the internet revolution take place and made the decision to quit his job and started an internet company.
Amazon owner Jeff Bezos is not just a businessman but he is a true leader and an inspiration to many young entrepreneurs across the world by starting amazon in his garage to make it world biggest companies by starting many companies under the umbrella of amazon and making amazon as world's biggest worth company on NASDAQ.
