All we know Amazon is the largest internet business-based company across the globe. Amazon's history and background started with Jeff Bezos, who started it in 1994 by selling online books. Bezos thought that online was the only start to grow fast. Amazon is an internet icon and has been undefeated since its creation by Jeff Bezos.
Today, the company sells online everything from online books to shipping container houses. It has become a one-stop-shop for every unique customer.
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Here in this reading, I will try to explain the early days of Amazon and its creation, including highlighting its history. We will elaborate on its prevailing milestones and victories.
Amazon History and background
Amazon, most commonly called amazon.com, was assimilated by Jeff Bezos in 2005. The owner, Jeff, was a Wall Street hedge fund executive at the start of the company.
How did Amazon.com be decided?
Jeff Bezos and his wife started an excellent domain name for the company. Both booked many domain names for the company like bookmall.com, awake.com, browse.com, and relentless.com. Later on, they kept relentless.com, and today, If you type it in your browser, it redirects to amazon.com.
He scrolled the dictionary for the best name for his business. Because he anticipated the growth of the online business, so he finally found a good reputation, amazon. He registered the domain name amazon.com on the first of November in 1994.
He was not sure what to sell, but he was optimistic about the company business. Jeff wanted to do some retailer business. Fortunately, he settled to sell books.
Amazon comparison with other selling companies
In this business, battle Amazon was not alone on the battlefield, but Computer Literacy started online wares in 1991. But jeff wanted to deliver customers' orders on their door. So, Amazon was different from all other companies. Today, we know Amazon.com is something more than selling only books. It was according to Jeff Bezos's mission.
Jeff envisaged that the company is selling books, but it is convenient for the customers to pay online in their comfort zone.
Why did Amazon start selling things other than books?
It was cutting-edge for amazon to start selling many other things, not content with books and stationery things. According to Jeff's excellent plan, the company started selling online video games and music discs software, making it an online tech company.
In Mids 2000s, Amazon launched its first web services following Jeff's ambition to make it an online tech company instead of a retailer company. By 2006, the company expanded into other services like EC2 and S3, improving its revenue.
Amazon started becoming so popular.
At the start, Jeff's peers and critics bounced disbelief on its business model plan. Many journalism agencies started to devalue the company. Many of them used to claim that that would convert amazon into a bookstore.
Amazon didn't generate revenue until 2001. Jeff Bezos remained firm.
The company's customer number boosted up to 180000. In October in the following year, its number increased up to 1000000 customers.
In 1996 and 1997, Amazon earned $148 million and $16 million in revenue.
After knowing its public significance, the company went public and launched its most effective affiliate program.
Amazon's flashing rise helped it reaching a revenue of $600 million. This bulge in business pushed Jeff into public eyes. He was also selected as the Time magazine's 1999 Person of the Year.
By joining the affiliate program company suddenly became so popular. Its affiliate program dilated up to 350000.
What things Made Amazon so famous?
By its liberty for the customer, they were making it a successful business. Customers didn't need to go physically to the bookstore and buy books. People liked this strategy, and Amazon became so popular.
Customer Attraction towards Amazon
Your ability to search and filter an item from the comfort zone of the house is fantastic, which customers liked the most about Amazon. And Amazon would deliver your order within committed days on your threshold.
The history of Amazon is full of its customer easiness and support. They offer not only many good things but they won customers' loyalty too. People liked this idea lot.
History of Amazon in a Nutshell
Besides, they recommend other products to their customer based on their past purchases loved by people.
By this, Amazon ables to increase its revenue. Also, customer reviews on different products and shops boost their sales, increasing the potential to attract new customers.
Conclusion
The revenue of Amazon from September to December is $96.145 Billion, and the growth rate is increasing year by year.
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