Earlier this week we learned that Amazon founder Jeff Bezos would step down as chief executive of the e-commerce giant he started in his garage almost 30 years ago.
It will pave the way for day-to-day control for Andy J. Assy C, currently head of Amazon’s cloud computing business.
Billionaire Mr Bezos will not fully rein in, however, assuming the role of executive chairman.
Today, Amazon is one of the most valuable public companies on earth, with Mr Bezos vying with Tesla’s Elon Musk for the title of richest man in the world.
What started out as a small online book retailer has become a global phenomenon, with home delivery, cloud computing, advancing in artificial intelligence, and streaming of movies and sports.
And it has brought a lot of criticism to Amazon, ranging from allegations to contributing to the decline of the High Street in complaints about the working conditions in its huge warehouses.
So how was the Amazon Empire built?
Amazon’s innovation can be clearly seen in its financial results.
In 2018, it became the second largest public company in the world after Apple Pal with a value of 1 1 trillion, and today it has the third highest market valuation in the US after Apple Pal and Micro .ft.
The huge success of the G online giant is also evident in its revenue.
Sales in 2020 rose to 6,386bn from 280bn a year earlier. Net profit is about 21 21 billion.
Mr. Bezos’ success has been driven by the global expansion of the field, but mainly by a variety of other areas.
Video streaming services and devices, cloud services, and more recently groceries (with acquisitions across the entire food market) have allowed the company to compete directly with technology giants such as Facebook, Apple Plus, Google and Netflix.
And it all started with the sale of books.
1995: Amazon launches book online with book sales
“When we started selling books four years ago, everyone said, ‘Look, you’re just computer guys and you don’t know anything about selling books.’ And that was true, “said Jeff Bezos, a young man in 1999.
However, the U.S. In the company the huge stock filing space at the time helped Amazon become a leader in the field and enabled it to offer a wider selection of books than its brick and mortar competitors.
Then ebooks arrived and Amazon was smart enough to be a key player in that market as well.
1999 – Amazon becomes the world’s largest online sales platform
In the late 1990’s, Amazon decided to start selling other goods, starting with music and DVDs.
Soon, Mr. Bezos’ empire grew, including electronics, toys, and kitchen utensils.
U.S. The growing network of warehouses helped the company expand what it could offer, dramatically increasing its popularity with customers.
Ten years later, Amazon is in the U.S. And became the world’s largest sel online seller.
2005 – Amazon launches Prime membership
Following the creation of the Amazon Marketplace in 2000 – which opened a platform for thousands of small businesses – Amazon felt the need to accelerate its delivery service to loyal customers.
Amazon Prime was launched in 2005, offering fast shipping for selected items. This has boosted sales of all types of goods.
Customers who paid more than 100 million are now members of the subscription service Amazon Prime, which also offers video and music streaming.
It is the second largest paid membership program in the world.
2007 – Amazon launches its first consumer product: the Kindle
Amazon has never forgotten the origins of its bookselling. When eBooks became popular, Mr. Bezos launched the Kindle in 2007, eventually becoming a global leader in the field.
The Amazon Smart Devices segment grew rapidly, facing stiff competition from Apple Pal and Google in the early 2010’s.
Amazon, however, was the first company to launch a smart device: an eco-speaker, equipped with Payne’s own artificial intelligence system, Alexa.
It is now available in the U.S. Is the third largest seller of smart devices.
Today, the future of Amazon seems a little more complicated than just selling products on the Internet.
Retail With online retail successfully dominating, PayFirm has now set its sights on expanding its services – and perhaps surprisingly, physical stores – to create a new way of shopping.
