Amazon.com, founded in the early 90’s, is an internet computing superstore where people have the opportunity to purchase a wide variety of products at the lowest competing price. Amazon is the world 's largest provider of cloud infrastructure services. The site is widely known for its wide selection of books, although the site has expanded to sell electronics, music, furniture, and apparel.
Amazon.com And How It Works
Amazon.com was originally founded in 1994 by Jeff Bezos in Seattle, Washington. It is the largest internet based retailer in the United States. In 1994, Bezos left his employment as vice-president of D. E. Shaw & Co., a Wall Street firm, and moved to Seattle. He began to work on a business plan for what …show more content…
Amazon.com lets almost anyone sell almost anything using its platform.
The business platform is that of a corporation (Sexton, 2013). A corporation is a company or group of people authorized to act as a single entity and recognized as such in law. Present-day, Amazon.com has 10 people on the board of directors. The company 's global headquarters are in 14 buildings in Seattle 's South Lake Union neighborhood (Brandt, 2011).
Amazon.com does not release exact financial data to the public, for competitive reasons. However, Amazon has now begun to release point of sale data via the Nielsen BookScan service to verified authors. In 2014 alone, Amazon.com total sales were near 90 billion. Appendix “A” showcases Amazon.com’s total net sales from 2006 through 2014 (Amazon.com, 2015). Although Amazon.com reports a high level of net sales, it’s net income remains near zero (Appendix “B”). Profits as reported in the net income line are a pretty bad way to try to understand a business like this, actual cash flow is better. As the saying goes, profit is opinion but cash is a fact, and Amazon itself talks about cash flow, not net income. Amazon.com’s marketing strategy consists of a few different techniques. Amazon.com’s mission statement is stated as "To be Earth 's most customer-centric company where people can find and discover anything they want to buy online." The embedded marketing techniques that Amazon employs
In 1994, Jeff Bezos created Amazon with the idea of selling books online. Jeff Bezos was raised by his mother and stepfather, who was a Cuban immigrant that later adopted him. He quit his job on Wall Street with a New York hedge fund to work to fulfill his dream. In 1995, the dream became a reality. Bezos knew when he created Amazon, he knew what he wanted and that he wanted it to be an everything store.
According to Bezos, the company tries to solve a very hard problem by understanding how can they serve the consumer better and thus try to convert the problem into straight forward problem. When Bezos started his business, there were different reviews about this business like they say that they don’t have their own products but they sell other companies products, so they are a hindrance to innovation for other companies. There were many negative reviews about the company being posted on their website but Benzos wasn’t concerned about those comments. Acc to Bezos, amazon.com doesn’t make money when they sell, but they make money when they help customers in choosing the product they want to buy.
In July 2015, Amazon.com surpassed Wal-Mart Stores Inc. as the world 's biggest retailer. The company, incorporated on May 28, 1996, is an e-commerce company. The company began as an online bookstore but now offers a large range of products and services through its websites. Amazon’s products include merchandise and content that the company purchases for resale from vendors and those offered by third-party sellers. The company through its Websites offers products under various categories, including instant videos, digital music, Appstore for Android, Amazon Cloud Drive, Kindle E-readers and books, FIRE tablets, FIRE TV, FIRE phone, books and audible, movies, music and games, and a wide variety of consumer goods. The company offers its own products as well as third-party products across various categories, through its retail websites and through its mobile websites and applications. It also manufactures and sells electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, Echo and Fire phones.
Amazon.com is an American multinational electronic commerce company with headquarters in Seattle, Washington, United States. It is the world 's largest online retailer. Amazon.com started as an online bookstore, but soon diversified, selling DVDs, CDs, MP3 downloads, software, video games, electronics, apparel, furniture, food, toys, and jewelry. The company also produces consumer electronics—notably the Amazon Kindle-book reader and the Kindle Fire tablet computer—and is a major provider of cloud computing services. Jeff Bezos started the company in his garage. He started out by selling just books, but now they sell just about anything.
Amazon was incorporated in 1994 in the state of Washington. Founder, Chairman of the Board and CEO Jeff Bezos opened Amazon’s online store in July of 1995. Amazon was subsequently reincorporated in Delaware in 1996. The Company is headquartered in Seattle, Washington. Amazon is listed on the NASDAQ Global Select market under the ticker symbol AMZN, and held its IPO in May 1997.
Jeff Bozos opened Amazon in July of 1995 in his garage in Bellevue, WA. With the expanding business, they rented their first 93,000 square-foot warehouse in November 1996 in South Seattle. In May of 1997,
Amazon is a Fortune 500 e-commerce company based in Seattle, Washington, the company being one of the first largest to sell goods over the internet. In 1994, Jeff Bezos launched Amazon, the next year the business took off. Amazon originally started out as an online bookstore quickly diversifying its self by adding music, DVD’s, video games and clothing. These days’ amazon sells everything you can think of, including groceries and delivers right to your door. Amazon considers itself a customer centered company, Jeff Bezos believes if they don’t listen to customers the company will fail. As Bezos stated, “Amazon puts the customer experience at the top of their short and long term to-do list” (Penhollow, N.D.).
Shaw & Co. (a Wall Street Firm). The company was originally called Cadabra. In October 1994, Bezos changed the name to Amazon by looking through A’s in a dictionary. He picked the name Amazon so the company would appear early in alphabetical order and because he saw the link between world largest river (it’s actually Nile but Bezos didn’t know that at that time) and the world largest bookstore, which Amazon was supposed to become. In 1995, Bezos and his first employee built Amazon.com in Bezos’s garage; it was an online bookstore at first. The site went online in July 16th, 1995 and sold their first book called "Fluid Concepts & Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought".
Amazon.com, Inc., was founded on July 4, 1994 in Bellevue, Washington by its current Chairman, President and CEO Jeffery Bezos. Before starting what would become the largest internet based retailer in the world, Mr. Bezos was already highly successful. A graduate of Princeton
Amazon.com, also known as Amazon, is American company that deals in electronic commerce, along with cloud computing. In 1994, Jeff Bezos founded the company and was based in Seattle in Washington (Jopson 2011). Amazon is the biggest online retailer in the world by market capitalization and total sales turnover. First, the company began its operation as an online bookstore, but later decided to diversify into selling CDs, DVDs, Blu-rays, MP3 streaming/downloading, video streaming/downloading, audiobook streaming/downloading, videogames, software, electronics, furniture, toys, food, apparel, and jewelry (Synergy Research Group, n.d). It is also important to note that the company is also involved in producing consumer electronics, such as Fire Tablets, Fire TV, and Amazon Kindle e-readers – and is the global leader in providing cloud infrastructure services (Infrastructure as a service –IaaS). Under its AmazonBasics, an in-house brand, the company also sells particularly low-end products such as USB cables. The company has a separate retail website for the United Kingdom, the United States and Ireland, including several countries such as China, Japan, Mexico, Canada, Italy, India, Brazil, and Australia. It is also significant to note that the company provides international shipping to some countries for its physical products.
Amazon was founded by Jeff Bezos in 1995 in Seattle, Washington. Jeff Bezos saw the potential of online retail while working as a computer specialist on Wall Street in New York City. After considering many products to sell he decided on books. Amazon exploded onto the market as the premier website to buy, sell, and rent books. Bezos pioneered the industry with innovations like one click shopping, online customer reviews, and order verification emails. The company’s revenues soared to $15.6 million dollars by the end of 1997. Despite the tremendous revenues Amazon failed to turn a profit until the last quarter of 2001. Jeff Bezos focus remained on innovation and long term growth, putting everything he earned back into developing new markets
Amazon.com, the world’s largest online retailer, was founded in 1994. Even though the company has been fortunate with its success, it has not been without hard work and continuous efforts to develop and reach new heights. Initially, Amazon was not a retailer of everything as we all know of it today. Its primary focus and profit stemmed from the selling of books online and operated out of the founder’s garage.
Amazon first launched in 1995 after founder Jeff Bezos quit his job on Wall Street to begin his online business. Bezos made a list of the possible items that had potential to sell and narrowed his choice down to books. The reason he chose to start an online bookstore was because books were low cost items and demanded universally. Seattle soon became the
Beyond the highly anticipated package delivery drones and the cashier-free grocery stores of Amazon, there are numerous business segments that help Amazon remain as one of the largest online e-commerce marketplaces. Amazon has set up an empire that has enabled it to continue with highly lucrative strategies and business opportunities that continually push it forward. “Amazon is at the beginning of an investment cycle,” one of Morgan Stanley’s financial analysts remarked and also stated “unclear how long this cycle is expected to last.”
Amazon is the biggest web based retailer in United States. It began as an online book store but started offering VCDs, MP3s, furniture’s, gems etc. the founder of Amazon was Mr. Jeff Bezos and it was founded in the year 1995.