Amazon : Where it all began #06
Amazon, the trillion dollar club giant, is a household name. Whether you know it for it’s ecomm business, enjoying Amazon Prime movies, deploying on Amazon Web Services (AWS) , talking to Alexa, or reading your fav books on Kindle. We probably use its services in one or the other form. Known for it’s user centricity, often referred to as ‘customer obsession’ Amazon has over 300 million active customers. With a market cap of about 1.84 trillion dollars, Amazon #Ecommerce services or Amazon.com rules almost 40% of the US E-commerce market. Amazon clocks in averaged out sales of $17 million an hour, shipping about 1.6 million packages in a day.
As per a Quora answer by a early Amazon employee, a book, Fluid Concepts And Creative Analogies’ by Douglas Hofstadter was the first order on Amazon.
What a lot of people know as Amazon’s core business, E-commerce doesn’t even accounts for Amazon’s 50% revenue.
Source: Statista
#WHERE IT ALL BEGAN:
The trillion dollar tech giant started out as an online book store! Jeff Bezos started Amazon out of the garage of his rented home. Amazon promised to deliver books to anyone on the World Wide Web, anywhere across the globe, from the same small garage! For 4 years Amazon was a bookstore! It was in 1998 that Amazon started expanding to more categories. It was then that it started seeing profits on its balance sheets for the first time.
Amazon’s logo, which now represents A->Z as a message, wasn’t the same back then either.
Initially, Bezos had named Amazon Cadabra, inspired by the famous magic spell ‘abracadabra’. He soon changed it to Amazon!
By: Prapti Jain
#tech #startups #startupstories #amazon #software #venturecapital #ecommerce #internet