Amazon has been working since 1994 and has earned its name over the time. Jeff Bezos the owner of Amazon had struggled with a lot of things throughout the time period. Even the name of Amazon was decided by Jeff after a lot search and struggle, in the starting Amazon was called ‘Cadabra’ then it got changed into ‘Relentless’ which still did not seemed right to Jeff so he opened up dictionary to find names from the alphabet ‘A’ in order to be listed in top in the searches. This is how he came up with the name of Amazon.
This is just one of the stories behind Amazon, over the years Amazon has experienced different kinds of things which has brought Amazon to where it is now.
In the beginning of Amazon, Jeff Bezos short listed the products which he thought could be sold online easily. He regretted that he could not fully utilize the era of internet boom period for businesses. However, through the investment from his parents to start up his business he was able to bring in the wide range of books in Amazon.
So initially the company was an online bookstore which sold books all around the world and within 2 months Amazon was able to pick up good amount of sales. Afterwards Amazon was made public and its stocks were being sold from 1997.
Even during this time period Amazon had to go through some major hurdles but it was successfully able to face them all. Eventually Amazon’s product portfolio augmented and it was able to cater all kinds of products from A to Z as the Amazon’s logo shows it.
In 2017 Amazon decided to obtain Whole Foods, in order to capture supermarket chain as well and give Walmart a little competition. The expansion strategy adopted by Amazon was to build another headquarters in Metropolitan and this new project was called ‘HQ2’, over 50,000 people were employed here.
Once 2017 ended, Amazon had 566,000 workers all over the world. Another jump was taken in 2018 when Amazon opened their Amazon Go store which was modern technology based store as the items were checked through the machines and Amazon app to cut out the need for check-outs. Initially the store was only in Seattle but later on the company established it in different areas as well.
Another Amazon 4-star store was established in New York only to deal with those products which has the highest sales, demands and were rated 4 stars or above.
It was not like that Amazon achieved its success overnight. It has turned 25 years old in 2019 by going through some major expansions, mergers and acquisitions. Once it was able to build itself properly, it decided to saturate into other growing firms which helped Amazon to grow bigger and better.
This technology charged company impacted the lifes of many individuals in this modernized world, changed their behavior of buying and made the magic happen.
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