Amazon's Brief History

History of Amazon

Amazon is an American multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. The company was founded by Jeff Bezos in 1994 in Seattle, Washington, as an online bookstore. Here's a brief history of Amazon:

• 1994: Jeff Bezos founds Amazon in his garage as an online bookstore, offering more than one million titles for sale.

• 1997: Amazon goes public, and Bezos becomes a billionaire overnight.

• 1998: Amazon expands beyond books and starts selling music, movies, and other products.

• 2002: Amazon launches Amazon Web Services (AWS), a cloud computing service that would eventually become one of the company's biggest revenue generators.

• 2005: Amazon Prime, a subscription-based service that includes free two-day shipping and access to streaming media, is launched.

• 2007: Amazon releases the Kindle, an e-reader that would go on to revolutionize the book industry.

• 2011: Amazon launches Amazon Studios, a division that produces original films and television series for distribution through Amazon Prime Video.

• 2013: Amazon announces plans to start delivering packages via drones in the near future.

• 2014: Amazon buys Twitch, a video game streaming platform, for nearly $1 billion.

• 2015: Amazon surpasses Walmart as the most valuable retailer in the United States.

• 2017: Amazon acquires Whole Foods Market, a grocery store chain, for $13.7 billion.

• 2018: Amazon becomes the second company, after Apple, to reach a market value of $1 trillion.

• 2021: Jeff Bezos steps down as CEO of Amazon, and is succeeded by Andy Jassy.

Today, Amazon is one of the largest and most valuable companies in the world, with a market capitalization of over $1.5 trillion as of early 2023. The company employs more than 1 million people worldwide and operates in multiple industries, including e-commerce, cloud computing, digital streaming, and artificial intelligence.