Amazon is known as the largest e commence American company and the most valuable brand in the world. It is one of the biggest American companies along with Alphabet, Meta, Apple, and Microsoft. The founder of Amazon starts this largest company from his garage. Amazon was founded by Jeff Bezos in July 1994. This is the platform where customers can find everything from music CDs, e-books, and statues to pillow covers. This company has a headquarters in Seattle, Washington, United States.
How Amazon founded?
In late 1993 Jeff Bezos decided to open an online book store so he left his previous job in 1194. First, he makes the decision to make a list of possible products that he could sell with the help of the internet. Jeff Bezos thinks that Seattle is the best place for the new business he managed to secure 1 million dollars from his friend and family and start his new business in a garage.
On 5 July 1994, he made the company with the name Cadabra. After one year he decide to change his company name after his lawyer misheard it as a cadaver. Jeff also registered many domains such as Awake.com, Browse.com, Bookmall.com, and Retenless.com. Then Jeff sees that letter A is the first letter so the name with the letter A would appear sooner when the customers conduct the online search. So he decides on the name Amazon for this online book store. Amazon is also the name of the largest river.
When Amazon started selling books according to its founder there was a 70% of chance that it would fail. In 1998 Bezos expand the products of the company such as music and video and by the end of the year, he expanded the company including a variety of consumer goods.
In 2000 he borrowed 2 billion dollars from the bank as his cash balance is only 350 million dollars. In 2002 Bezos led to launch the Amazon web services. In 2007 Jeff Bezos launch the Amazon kindle.
In 2008 Jeff Bezos wish to create a device that provide a flow state in reading similar to the experience of video games. In 2013 Bezos made a contract with Central Intelligence Agency on the behalf of Amazon web Services. In the October of 2013 Amazon was recognized as the largest online shopping platform.
Reasons of Amazon success:
Today there are many reasons for this company to become successful.
Amazon applies multiple sale strategies for example it opens Amazon fresh grocery stores in different areas. This type of strategy also enables Amazon to make its own brand product and sell them.
- It has a worldwide service Amazon has websites for these countries United States, Canada, Australia, Brazil, China, France, Germany, India, Italy, Japan, Mexico, the Netherlands, Poland, Saudi Arabia, Singapore, Spain, Sweden, Turkey, United Arab Emirates, and the United Kingdom.
- Amazon doesn’t share any personal information of a customer with a third party.
- Their logistics system is also good than other retailers because they invested heavily in logistics.
- Review any product is important and amazon has a review system and that is the reason for the significant increase in sales.
- Another major reason for his growth is that it allows people to join an affiliate program.
Another reason it become so successful is that the customer doesn’t need to go to another platform to buy what they want. Amazon and third-party sellers can sell products through Amazon in all these categories:
- Vinyl & CD’s
- Arts, Crafts & Sewing
- Mobile Phones & Accessories
- Shoes & Footwear
- Fine Art
- Electronics & Kindle
- Garden & Outdoor Living
- Handmade Items
- Home & Kitchen Appliances
- Luggage & Travel Gear
- Industrial & Scientific Appliances
- baby items
- Movies & TV
The services of amazon include.
Amazon Prime is a paid subscription service provided by Amazon. This is a yearly membership and it provides many benefits to its members.
- The First benefit is two days of shipping on eligible products on the other hand non-prime customers receive order five to eight business days.
- Members get an extra 10% discount on eligible items.
- Unlimited streaming of movies and TV episodes for paid or free.
- It also provides a chance to the members to read unlimited books including comics and magazines for free. Customers can read these books on IOS and android in the kindle app.
- Members can listen to the unlimited song which will all be ad-free with amazon music prime.
- Prime gaming provides a gaming channel subscription every month, and exclusive access to free game content.
AmazonGo is a new kind of service provided by Amazon. This is also considered the world's most advanced shopping technology. This is an e-commerce mobile application that enables customers to purchase products without waiting in lines or checking out with registers in physical stores.
When customers enter the store they were asked to download this application if they haven’t downloaded it yet. After scanning the QR code at the entrance of the store then customers can take the thing which they want and after this, they leave with the back full of items or products. As of 2020, in Seattle, Chicago, San Francisco, London, and New York City there are 29 open and announced store locations.
Besides these two Amazon have many more product and services:
- Amazon Fresh
- Amazon Academy
- Amazon Prime
- Amazon Drive
- Fire tablets
- Fire TV
- Kindle Store
- Music Unlimited
- Amazon Digital Software & Video Games
- Amazon Studios
Today amazon owns over 40 subsidiaries some of them are:
- Alexa Internet
- Amazon Air
- Amazon Books
- Amazon Fresh
- Amazon Games
- Amazon Lab126
- Amazon Logistics
- Amazon Pharmacy
- Amazon Publishing
- Amazon Robotics
- Amazon Studios
- Body Labs
- Book Depository
- Digital Photography Review
- Eero LLC
- MGM Holdings
- Twitch Interactive
- Whole Foods Market
As of 2021 Amazon is bigger than GM, AT&T, and IBM. It is so successful because it produces quality goods and became successful in gaining the trust of its customers. Due to a lot of categories and a large number of products customers don’t need to go to another platform for what they needed. It has a net worth of $1572 Billion which is equal to $ 1.75 trillion.
Other related tags for this story:
Amazon, Amazon history, Amazon subsidiaries, Amazon success story, Amazongo, Amazon prime, Amazon services, motivational, motivational quotes, inspirational, inspirational quotes, success stories, success quotes, short quotes