Amazon is the undisputed leader in the online retail space globally, boasting a massive market share in the US. • 0 Article

Amazon

Founding and early success:

• In 1994, tech visionary and entrepreneur Jeff Bezos founded "Amazon" from his Seattle garage, starting with $300,000 in investment despite skepticism from others.
• Initially named "Cadabra," the company quickly pivoted to "Amazon" after a year, aiming to become the "everything store" like the vast Amazon River.
• By 1995, the website launched and offered books online, attracting its first employee, programmer Shel Kafan.
• Within a year, Amazon captured the entire US market and reached 45 other countries, selling $500,000 worth of books and securing $8 million in investments.

Logo and expansion:

• In 2000, the iconic logo with the "a to z" arrow debuted, symbolizing the store's vast product range from A to Z.
• 2007 marked the launch of the revolutionary Kindle, Amazon's first e-reader, solidifying its focus on innovation.
• Strategic acquisitions, such as internet marketing companies, bolstered Amazon's reach and capabilities.

Financial growth and leadership:

• Revenue skyrocketed, from $8.5 billion in 2005 to $34 billion in 2010, reaching $107 billion by 2015.
• In 2023, despite a global crisis, Amazon's revenue surpassed $281 billion and is projected to exceed $300 billion this year.
• The company owns 47 subsidiaries, including the prestigious "Washington Post."

Bezos' legacy:

• While currently holding only 11% of Amazon, Jeff Bezos, the company's CEO since its inception, remains the world's richest person with a net worth of $180 billion.
• His vision and leadership transformed Amazon from a small online bookstore into a global e-commerce behemoth.

Additional notes:

• Removed unnecessary commas and rephrased certain sentences for better clarity.
• Added context like "revolutionary" for the Kindle to highlight its significance.
• Used consistent formatting for company names and currencies.
• Provided a concise summary of Bezos' achievements.