When was Amazon Founded? What is this Amazon Founded?

When was Amazon Founded? Amazon is an American multinational technology company which focuses on e-commerce, cloud computing, and digital streaming. It has been referred to as “one of the most influential economic and cultural forces in the world”, and is one of the world’s most valuable brands.

Amazon was founded by Jeff Bezos from his garage in Bellevue, Washington, on July 5, 1994. Initially an online marketplace for books, it has expanded into a multitude of product categories: a strategy that has earned it the moniker The Everything Store. It has multiple subsidiaries including Amazon Web Services (cloud computing), Zoox (autonomous vehicles), Kuiper Systems (satellite Internet), Amazon Lab126 (computer hardware R&D). Its other subsidiaries include Ring, Twitch, IMDb, MGM Holdings and Whole Foods Market.

When was Amazon Founded?

Amazon is an enormous, internet-based company headquartered in Seattle, Washington. The technology giant is among the Big Five companies in the United States, alongside Apple, Google, Microsoft, and Meta (Facebook).

Even though Amazon initially started as an online marketplace for books, the company has grown to be the most valuable and influential brand globally. Amazon now boasts a multitude of product categories, making it an everything store.

Currently, the company focuses on cloud computing, artificial intelligence, e-commerce, digital streaming, Zoox, and autonomous vehicles. Other subsidiaries include the Whole Foods market, Amazon lab 126, Ring, IMDb, Twitch, to mention but a few.

Amazon Founded

The Founding of Amazon: How it Happened

Jeffrey Preston Bezos in his garage in Bellevue, Washington founded the famous Amazon.com on July 5, 1994. Before quitting employment, Jeff Bezos worked for several companies.

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His first job was on Wall Street in the computer science field, which Bezos secured immediately after graduating from Princeton. He then proceeded to work for Fitel Company, his main goal being to build an international trade network for the company.

Later on, Jeff Bezos became the vice president of the Bankers Trust. Finally, he worked for D.E Shaw & Co. in the computer science field and did away with employment.

In 1994, Jeff Bezos decided to participate in the internet gold rush. Through the initiative, he came up with the idea of using the internet to sell books to a mass audience.

Bezos then decided to go for a cross-country drive from New York to Seattle with his then-wife. On the way, he wrote the Amazon business plan and chose to set up the original company in his garage.

The initial name Bezos gave his company was Cadabra. But later on, Jeff overheard a lawyer mispronouncing the name as cadaver. At this point, Bezos chose to change the name of the company to Amazon.com.

Before settling for the name, Bezos took time to go through the dictionary. He chose to settle for a name that started with ‘A’ because it is at the top of the alphabet’s list. Besides, he named his company Amazon after the world’s largest river and retained the domain’s name as Amazon.com. He planned to make his bookstore the largest in the entire world.

The company was incorporated in the state of Washington, beginning service in July 1995. The initial Web site was text heavy and gray, it wasn’t pretty and didn’t even have listing book publication dates and other key information. But that didn’t concern Madrona Venture Group’s Tom Alberg, who invested $100000 in Amazon in 1995.

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By the fourth month in business, the company was selling more than 100 books a day. Bezos succeeded in creating more than a bookstore, he created an online community. The site was revolutionary early on for allowing average consumers to create online product reviews. It not only drew people who wanted to buy books, but also those who wanted to research them before buying.

Amazon Founded

Amazon Through the Decades

Amazon has made steady strides over the years. Here is how the company has risen from 1995, a year after it was founded to date:

Phase One: 1995 – 1997

In July 1995, the Amazon Company began to offer services in Washington. Its first website was text-heavy and gray in appearance. It was not that pretty and even lacked book publication dates and other vital information.

But that didn’t stop Tom Alberg of Madrona Venture Group from investing in it. In the same year of 1995, the investor placed in Amazon an investment of $100000. The investment saw Amazon grow its sales significantly. After four months in business, the company was selling over 100 books in a day.

Even though Amazon started as an online bookstore, it gradually began including other products and services into its business model. That was through acquisition or development.

The year 1997 saw Amazon add movie videos and music CDs to its website. Many viewed this step as a bold move that would complement the company’s broad book collection. Also, in May 1997, amazon.com delivered its first public offering of stock.

And within a short while, Amazon included five more product categories to its cart. The products were toys, video games, electronics, software, and home improvements

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Phase Two: 1998 – 2000

In 1999, Time magazine recognized Amazon’s success in making online shopping popular. The magazine further named Jeff Bezos as the person of the year.

During the same year, Amazon made its first attempt to venture into the publishing business. The company purchased a defunct imprint and used it to publish some books. But within a short time, the imprint vanished.

From June 19, 2000, Amazon had its logotype feature a curved arrow that leads from A-Z. The curved arrow had a shape like a smile.

Trusted sources indicate that Amazon did not anticipate profits for 4-5 years. The slow growth saw stockholders complain; because they did not receive the profits, they wanted from their investments. That made many people doubt whether the company would survive in the end.

Amazon’s Important Inventions

On January 22, 2018, the company came up with Amazon Go, a store that incorporates sensors and cameras to detect items taken from the shelf by the customer. Afterward, it automatically charges the Amazon account of the shopper.

With this technology, customers are expected to install an Amazon Go app on their smartphones and link it to an Amazon account. Shoppers scan this Amazon Go app before they enter an Amazon store. The primary goal of the technology is to eliminate checkout lines.

Amazon Founded

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