Introduction. The One Constant Worldwide Activity Is The

1765 WordsApr 8, 20178 Pages
Introduction The one constant worldwide activity is the buying and selling of goods and services. One of the leaders in retail is Amazon.com. A company that started in the infancy of the Internet as an on-line bookstore has grown to global market dominance from selling a large range of products with its Amazon Marketplace. As the company’s logo suggests, Amazon sells everything from A to Z. Amazon has used technology and innovation to change how the world shops and established the e-commerce industry as the growing trend for all retail business. History of the Company After working seven years on Wall Street working for David Shaw, owner of DE Shaw hedge fund, Jeff Bezos left Wall Street to start his own company. The Internet was new…show more content…
Amazon started working with venture capitalist Kleiner, that “invested $8 million and acquired 13% stake in the company and valuing it at $60 million.” (Stone, 54) On May 15, 1997, Amazon went public for $18 a share. The IPO raised $54 million and gained widespread attention, which helped Amazon grow 900% in annual revenue (Stone, 59). Product Line Amazon.com has grown from an on-line bookstore to an everything store with shopping categories in books, movies, music, games, electronics & computers, home & garden, tools, clothing, shoes, jewelry, handmade, sports & outdoors, automotive & industrial. Amazon has also expanded its core business as an e-commerce site to an everything business site. In March 2006, Amazon launched its simple storage service or Amazon Web Service, AWS. Amazon.com website describes AWS as “a broad IT infrastructure platform that provides a secure cloud services platform, offering compute power, database storage, content delivery, and other functionality to help businesses scale and grow. “ (Amazon.com). On July 23, 2015, the Amazon Echo, a smart speaker developed by Amazon, was made available for the U.S. market. Through voice recognition software, Alexa, the Echo speaker is able to play music, access the Internet, and control smart home compatible connected devices like lights and thermostats. (Amazon.com) The
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