History Of Amazon Little known facts

A quick review of amazon history is that Amazon.com was founded by Jeff Bezos in Bellevue, Washington, in July 1994. The company initially started as an online marketplace for books but later expanded to sell electronics, software, video games, apparel, furniture, food, toys, and jewellery. Many of the people are searching for amazon history and how this great market place has come into being.

SoftwareAmazon Music, Amazon Rekognition

FoundersJeff Bezos

history of amaozn

SubsidiaryWhole Foods Market, Amazon Publ…

Place foundedBellevue

Amazon History :

Founding: The company was founded as a result of what Jeff Bezos called his “regret minimization framework”, which described his efforts to fend off any regrets for not participating sooner in the Internet business boom during that time. In 1994, Bezos left his employment as vice-president of D. E. Shaw & Co., a Wall Street firm, and moved to Seattle, Washington, where he began to work on a business plan[2] for what would become Amazon.com. No one can even not imagine that this will be amazon history.

Choosing a name: Bezos selected the name Amazon by looking through the dictionary; he settled on “Amazon” because it was a place that was “exotic and different”, just as he had envisioned for his Internet enterprise. The Amazon River, he noted, was the biggest in the world, and he planned to make his store the biggest bookstore in the world.

Online bookstore and IPO: Bezos created a list of 20 products that could be marketed online. He narrowed the list to what he felt were the five most promising products, which included: compact discs, computer hardware, computer software, videos, and books. Bezos finally decided that his new business would sell books online, because of the large worldwide demand for literature, the low unit price for books, and the huge number of titles available in print.[9] Amazon was founded in the garage of Bezos’ rented home in Bellevue, Washington.[7][10][11] Bezos’ parents invested almost $250,000 in the start-up.[1In 1999, Amazon first attempted to enter the publishing business by buying a defunct imprint, “Weathervane”, and publishing some books “selected with no apparent thought”, according to The New Yorker. The imprint quickly vanished again, and as of 2014 Amazon

representatives said that they had never heard of it.[19] Also in 1999, Time magazine named Bezos the Person of the Year when it recognized the company’s success in popularizing online shopping.[20]

The 2000s: Since June 19, 2000, Amazon’s logotype has featured a curved arrow leading from A to Z, representing that the company carries every product from A to Z, with the arrow-shaped like a smile.[ According to sources, Amazon did not expect to make a profit for four to five years. This comparatively slow growth caused stockholders to complain that the company was not reaching profitability fast enough to justify their investment or even survive in the long-term. No one can even not imagine that this will be amazon of history.

 

2010 to present: In 2011, Amazon had 30,000 full-time employees in the US, and by the end of 2016, it had 180,000 employees.

In 2014, Amazon launched its first-ever smartphone, the Fire Phone. The Fire Phone was meant to deliver media streaming options but the venture failed, resulting in Amazon registering a $170 million loss.

HQ2: In November 2018, Amazon announced it would open its highly sought-after new headquarters, known as (HQ2) in Long Island CityQueens, New York City,[39][40] and the Crystal City neighbourhood of Arlington, Virginia.[41] On February 14, 2019, Amazon announced it was not moving forward with plans to build HQ2 in Queens[42] but would instead focus solely on the Arlington location. The company plans to locate at least 25,000 employees at HQ2 by 2030 and will invest more than US$2.5 billion.

Amazon Go: On January 22, 2018, Amazon Go, a store that uses cameras and sensors to detect items that a shopper grabs off shelves and automatically charges a shopper’s Amazon account, was opened to the general public in Seattle.[44][45] Customers scan their Amazon Go app as they enter, and are required to have an Amazon Go app installed on their smartphone and a linked Amazon account to be able to enter.[44] The technology is meant to eliminate the need for checkout lines.[46][47][48] Amazon Go was initially opened for Amazon employees in December 2016.[49][50][51] By the end of 2018, there will be 8 total Amazon Go stores located in Seattle, Chicago, San Francisco and New York.[52] Amazon has plans to open as many as 3,000 Amazon Go locations across the United States by 2021.

Amazon 4-Star: Amazon announced to debut the Amazon 4-star in New York, Soho neighbourhood Spring Street between Crosby and Lafayette on 27 September 2018. The store carries the 4-star and above rated products from around New York.[54] The amazon website searches for the most rated, highly demanded, frequently bought and most wished for products which are then sold in the new Amazon store under separate categories. Along with the paper price tags, the online-review cards will also be available for the customers to read before buying the product.

Mergers and acquisitions: Amazon has grown through several mergers and acquisitions.

Main article: List of mergers and acquisitions by Amazon

The company has also invested in many growing firms, both in the United States and internationally.[57][58] In 2014, Amazon purchased top level domain .buy in auction for over $4 million.[59][60] The company has invested in brands that offer a wide range of services and products, including Engine Yard, a Ruby-on-Rails platform as a service company,[61] and Living Social, a local deal site.

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