Amazon logo now
Founded in the year 1994 on 5th July, amazon has now grown big to get itself in the top 10 largest companies globally.
Amazon logo then
Amazon company
Jeff Bezos founded it as an online market for selling books. Then, slowly with positive growth, it later sold even software, electronic items, and then came food and toys and jewelry.
Amazon founder and CEO Jeff Bezos
Slowly it started to take over other big companies. Like in 2015, it took over Walmart; in 2017, it acquired the Whole Foods Market. In 2018 its founder Zeff Bezos announced that the company had surpassed 100 million subscribers worldwide.
According to surveys, Amazon is the largest internet company by revenue globally and the largest private employer in the USA.
Amazon includes a vast number of products on its list. It also distributes downloads and video streaming. It also has its publishing arms such as Amazon publishing Studios and Amazon web services.
The main reason behind Amazon's success is that it employs a multilevel e-commerce strategy. It started by focusing on the businesses-to-consumer relationship between itself and customers and then the business-to-business relationship between itself and its supplier. Amazon allows anyone to sell anything using its platform.
The interesting part is that it also provides its affiliates to earn from home by simply posting amazon's link and getting commissions through sales on click. Now Amazon has given its affiliates its platform to build its own entire website.
Amazon also allows large e-commerce sellers to use its platform to sell their products. These sales are processed through Amazon.com, and for each sell made, amazon gets some part of the earnings. In November 2015, amazon opened a physical book store called Amazon Book store, which contains all the products with prices similar to its website.
Apart from these, in 2017, Amazon also opened the brick and mortar bookstores in Germany. Recently it launched Luxury Stores on its mobile app.
University of amazon book store at Seattle
If we try to understand how this company has made positive progress over such a less period of time, it's not hard. What it does is that it takes away a small percentage of whatever item that is sold through its websites. And Amazon has listed almost everything that can be bought in its list. It asks companies to pay to get good ranks on amazon's list. This is the reason why this company grew very fast in just a short span of time.
Amazon reported earnings of 10.7 billion dollars, with a revenue of 232.89 billion dollars in 2018. As of 2020, its capitalization went over 1 trillion dollars.
Now Amazon employs about 8 lakh people. But this largest company has got many times itself into controversies like getting into partnership with the CIA. Leading customers away from bookshops, adverse impacts on the environment, giving low warehouse conditions for workers, and publishing LGBT books as adult contents.
Early days of Amazon
In 2014 the Federal Trade Commission launched a lawsuit against Amazon, alleging that it promoted in-app purchases to children that were being transacted without parental consent. In 2014 Amazon banned skin lightening and racist products that may harm the consumers.
The CEO in the conference
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