In the world of e-commerce, Amazon.com is a giant. Everyone knows it is merely the number one online retailer in the world. Its rise to the top has inspired many similar companies to try and find its own success through the Internet, but to no avail. Some have managed to succeed, but it is likely that no one will be duplicating or will be surpassing what Amazon.com has achieved in the foreseeable future. What originally started as an online bookstore has proven to be so successful that it has been able to include other items, such as CD’s, DVD’s, computer software, electronics, MP3 downloads, video games, furniture, clothing, toys, and even food. A company that started from the garage of its owner has managed to reach out all over the world, like the nearly limitless Brazilian river from which it derives its name.
Jeff Bezos: The Man Who Had an Idea
The man who created Amazon.com is also its president, chief executive officer (CEO), and chairman of the board. Right from the outset, Jeff Bezos seemed to have been preparing to go down the path that would lead to the founding of Amazon. He showed an early interest in science and in computers. Even while in high school he attended the Student Science Training Program of the University of Florida. In college he attended Princeton University and obtained a Bachelor of Science degree in Electrical Engineering and Computer Science. He worked in the field of computer science in Wall Street after college, for several companies and was looking to a career in finance when he had an idea that changed his life and the course of business and retail history.
From Biggest Bookstore to the Biggest Anything Store
So how did Jeff Bezos start Amazon? Amazon.com was an idea that came to Jeff Bezos when, in 1994, he considered the possibilities offered by the Internet. He thought of the product that could best be marketed and sold through the Internet and he concluded that books would be perfect, since a huge database for different titles is only possible through the Internet. This was in 1994, and he proceeded to learn about the book business and then decided that the company is to be named Amazon, after the world’s longest river that seemed to have an infinite number of branches. The company started out in Jeff Bezos’ garage and from then grew to what it is today.
The following is a simple timeline of Amazon.com”
• 1994 – Amazon.com is founded in the Bezos’ two bedroom apartment, operating out of the garage.
• 1995 – On July 16 of that year, Jeff Bezos unveiled Amazon.com to the world. By September, sales were at $20,000.00/ week.
• 1997 – Amazon.com goes public and had generated $15.7 million up to that point. Movies and compact discs were added to the store’s lineup.
• 1998 – The company offerings were again expanded, this time with even more additions: electronics, video games, software, home improvement items, and even toys.
• 1999 – Sales were up to a billon dollars.
• 2001 – Amazon.com reported losses of $1.4 billion and laid off over a thousand workers.
• 2002 – The company entered partnerships with different retailers and offered clothing for the first time.
• 2003 – In September, A9 was formed, meant for developing a search engine that puts its focus on e-commerce websites.
• 2006 – The year saw Amazon with sales of over $10.7 billion.
• 2007 – Amazon.com introduced the Kindle, an electronic reading device.
• 2010 – By the middle of the year, Kindle and e-book sales were at $2.38 billion. Revenue for the year reached $34.204 billion.