Amazon Success Story: How it Became the eCommerce Giant
Alvin Wiseman
Linkedin
- March 8, 2023
- 10:51 AM
Since the pandemic, online shopping has become a part of our daily life for most of us. One of the first Ecommerce sites that people visit is none other than Amazon. There are many new and upcoming companies in the eCommerce marketplace, but only a few pioneer companies have established themselves as the market leader, one of them being Amazon.
The trillion-dollar company had its humble beginning in 1994 in the founder Jeff Bezos’s garage in Seattle, Washington. It is now among the first few companies that joined the 1 trillion valuation club. Just like the author Brad Stone calls the “Everything Store,” Amazon offers unlimited options for sections, custom-made services at a lower price, and good customer care. This company now has a foothold in e-commerce, digital streaming, AI, and cloud computing and has excelled in all these sectors. It also surpassed Walmart as the most valuable retailer back in 2015.
Amazon has remained the face of the ever-growing market, quickly adapting to new demands and building a productive brand. This eCommerce giant is not a household name worldwide, and it rightfully deserves to be. But how did it start? Let’s take a deep dive into how the e-commerce giant made it to the top.
Table of Contents
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A Brief About Amazon
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Highlights of Amazon
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The Beginnings of Amazon
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Early Stages of Amazon's Success Journey
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Amazon's Success Roadmap From 2000 to 2010
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Amazon's Transformation From 2010 to Now
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Amazon's Main Acquisitions
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Amazon Funding and Investment
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Amazon's Main Competitors
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What Made Amazon Successful?
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Amazon Future Plans
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Conclusion
A Brief About Amazon
Amazon does not need any introduction, as everyone has either shopped or at least heard of the platform. In fact, it has almost become synonymous with online shopping. It is a multinational technology company that has gained a foothold in eCommerce, cloud computing, digital streaming, and AI sectors. The company also offers a wide range of services, from Amazon Game Studio, Amazon Drive (similar to Google Drive), and Amazon Web Services (a comprehensive cloud platform), all used by numerous technology representatives worldwide. Not only that, but it also offers various multiple streaming and downloadable content through Amazon Music, Amazon Prime Video, and Twitch.
It publishes books through its publishing arm, Amazon Publishing, and film and television content through Amazon Studios. Amazon also produces well-known consumer electronic products such as Kindle e-readers, Echo devices, Fire tablets, and Fire TVs. The global marketplace now considers the company to be one of the most influential economic forces in the world and for being among the biggest rule-setting brands. According to Statista, during the third quarter of 2022, Amazon generated total net sales of over 127.1 billion US dollars.
Highlights of Amazon
Founded
Founders
CEO
Revenue
Headquarters
Industry
5th July 1994
Jeff Bezos
Andy Jassy
US$ 127.1 billion in Q3 2022
Seattle, Washington
Conglomerate
Jeff Bezos's Early Life
Jeff Bezos is the mastermind behind the concept of Amazon and the force behind the company’s success. The ace entrepreneur took one of the most significant bets on the Internet and forever changed how people shop. With a net worth of US$ 109.3 billion as of January 2023, here is how he first came up with the conception of amazon:
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Mr. Bezos first came up with the idea when he noticed the growing market of e-commerce was over nearly 2,300% in 1994.
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After taking a keen interest in this sector, he took the plunge and left his job at the Wall Street firm to start an e-commerce company.
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