The Story of Amazon
Who doesn’t love a good start-up story and what better than one about one of the arguably richest men in the world?!
Jeff Bezos, the story much like others in his garage where he began developing software, this then progressed into a 2 bedroom house equipped with a Sun Microstation and eventually a test site. Bezos then invited 300 friends to beta test the website and decided to name the business Amazon after the South American river on July 16, 1995.
Amazon began its success selling books online, across America and in 45 other countries within 30 days. In a matter of two months sales reached to $20,000 a week, growing faster than Bezos had even imagined. In 1997 the company went public and two years later proved to only go from strength to strength and not only keeping up with other traditional retailers e-commerce sites but becoming a market leader.
Bezos went into diversifying Amazon product range and began selling CD’s and videos in 1998, and then later clothes, electronics, toys, and more through major retail partnerships. In 2006 Amazon.com began offering a video service and initially rebranded as Amazon Instant Video. In 2007 Kindle was released, in that same year Bezos announced his investment in Blue Origin an aerospace company that develops technologies to offer space travel to paying customers.
In 2011 Bezos continued to diversify and directed Amazon into the tablet market with the Kindle Fire Tablet. Then came the Kind Fire HD which gave Apples iPad a run for its money. In 2013 Bezos made headlines when he purchased the Huffington Post $250 million. In 2013 Bezos revealed a new initiative Amazon had been working on called Amazon Prime Air using drones – remote controlled machines that perform human tasks that could in turn function as part of a delivery service to customers.
After many different missteps through the next few years including a failed mobile phone, Bezos was successful with the development of original content through Amazon studios. They were successful with 2 movies and ‘Chi-Raq’ a movie directed by Spike Lee, the companies first feature film.
In July 2017 Bezos surpassed Microsoft founder Bill Gates to become the richest person in the world at a net worth of $90.9 billion but by the end of the market closing Bill Gates net worth was $90 billion and Bezos had dropped to $89 billion…that’s a lot of dollars!
- Eastside Co Collaborator