Amazon : A Online Commerce And Cloud Computing Company Essay

Decent Essays is a online commerce and cloud computing company in the service sector. Amazon was founded in July 5, 1994 in Seattle, Washington by Jeff Bezos. Bezos left his employment as vice president of D.E Shaw and CO, a Wall Street firm. Bezos than moved to Seattle where he began to work on a business plan for what would eventually become what we all know today as Bezos wanted his companies name to mean something so he scoured though many books looking for a name. He finally landed on 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 planned for his new store to be. Amazon started as a online whole sale book store. Within the first two months of Amazon entering the book market they were making $20,000/week. Most of their early success was due to them being able to ship to all 50 states and over 45 countries from their company 's first day.During the next few years Amazon diversify their inventory to include CD 's, computer parts and many other items. Amazon issued its I.P.O of stock on May 15, 1997. Amazon was trading under the NASDAQ stock exchange as AMZN, at a price of US$18.00 per share ($1.50 after three stock splits in the late 1990s). When the dot-com bubble burst in the early 2000 's it destroyed many e-companies in the process, Amazon survived and grew past the bubble burst to become a huge player in online sales. Today Amazon is the worlds biggest online

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