Amazon went from a Garage to $1.77T in 27 years. Happy birthday!
Amazon has now turned 27. It is funny to think that the company started in the garage of Bezos’ house on Northeast 28th Street in Bellevue, Washington. The company was created back in 1994 by Jeff Bezos, and it has come a long way to become the e-commerce beast that we know and love today.
Jeff Bezos had other names in mind when he started Amazon.com. Bezos originally called the company Cadabra, but it had to be renamed because it sounded too similar to “cadaver.” He also had the idea of going for “Relentless,” but he finally decided on Amazon because of the exotic and different nature of the well-knowns South American river.
Now, it wasn’t a walk in the park. The company had to wait one full year before selling its first book, “Fluid Concepts & Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought.” And there are several other important milestones in the company’s path to becoming a $1.77 Trillion company. We also have to remember when the company went public at $18 per share, which is nothing compared to $3,510.98 per share as of today.
Amazon took another great step towards success as it launched in Europe back in October 1998, but it started skyrocketing in 2000. By 2002 the company launched Amazon Web Services. In December 2003, Amazon reported its first full-year profit of $35.3 million. Still, from a tech point of view, Amazon’s best moments were in February 2005, when the company launched its Prime subscription program. Six years after that, we saw the arrival of video to Amazon Prime subscription, and in 2014, we saw the launch of one of our favorite smart speakers, the Echo with digital assistant Alexa.
Now, Amazon isn’t stopping there. Just six years ago, it started opening physical stores and a bookstore called Amazon Books, and five years ago, the company started to deliver products by drone. So we just cant wait to see what the future has in store for one of my favorite e-stores. Happy Birthday, Amazon.
Source The World Today
A former bilingual teacher that left the classrooms to join the team of Pocketnow as a news editor and content creator for the Spanish audience. An artist by nature who enjoys video games, guitars, action figures, cooking, painting, drawing and good music.