Inspiring and Success Story of Amazon
Amazon SL (limited company) is a company from the US, its main market is electronic commerce along with cloud computing services.
Its headquarters are in the city of Seattle in the US state of Washington. Amazon was one of the first companies to offer and sell goods on the internet on a large scale and its motto is “From A to Z” (From A to Z)
It has managed to establish completely independent websites for many markets in which it is present around the world such as.
In this way, this company is able to offer the specific products of each of these countries. In other countries where Amazon is also present, it performs technical support functions, such as Costa Rica , since it is there from where it centralizes its attention to customers from all over Latin America, being one of the largest companies in this country by having a workforce of no less than 7,500 employees.
Inspiring and Success Story of Amazon CEO Jeff Bezos
Amazon is the largest online retail company in the world, where you can find practically anything you need because it is very likely that someone is selling it.
The founding of the Amazon company was made in 1994 by Jeff Bezos after leaving his previous job as vice president of the company DE Shaw & Co. in that same year, that company was a major Wall Street firm.
After his resignation, Jeff Bezos decided to move to Seattle and it was there that he began the structuring of a specialized business plan through the Internet, which over time became what we all now know as the Amazon.com company.
How the Idea for Amazon was born
The Amazon founder, being a Wall Street expert, after reading a report that analyzed the internet market and its future, discovered that a 2,300% annual growth was projected in web commerce.
After knowing this, he decided to create a small list of products that he thought would be sold very quickly and very easily when marketed over the internet with which he obtained a list of only 20 products but it was still a very long list so he continued working on it to reduce it to 5 possible successful products for the business he was looking for.
In the end, after an exhaustive search and selection, he decided that the perfect business model for what he was looking for would be books since the worldwide demand for literature was enormous.
This decision was a complete success thanks to the low prices of the books that it offered added to the enormous quantity of literary titles that it had in stock.
The Amazon bookstore managed to achieve such success that only in the first two months of life. The business sold to more than 45 different countries including the United States. His sales were up to $ 20,000 a week.
Why Choose Only Amazon Name
Jeff Bezos chose this name because the Amazon is an immense, exotic and very different from what is known to man and he wanted his store to also fit that description, the largest river in the world is the Amazon river and he he wanted his store to be the largest online store in the world.
As of June 19, 2000, the Amazon logo has been or has been presented with the word plus a curved arrow that appears to be a big smile, said line intertwines two specific letters: The “a” and the “z “, Which perfectly represents in image and without equivocation, its motto, which wants to imply that the store has everything you can search for from” a “to” z “
Chronology and First business model
As we have already mentioned, Amazon was created in the year of 1994, in the state of Washington, The company sells its first book in the year of 1995, for October of 1995, Amazon is announced to the public.
In 1996, it was decided to reincorporate in Delaware.
Amazon launches its initial public offering of shares on May 15, 1997 and while trading under the NASDAQ stock symbol AMZN, the company’s shares at that time were being offered at a price of $ 18 per share.
The business plan that Amazon decided to go for in the beginning was completely unusual and unexpected. The company did not expect to make a profit until four or five years later, and because of this kind of “slow” growth, shareholders began to complain that the company was not reaching profitability fast enough to justify its investment and even not it was fit for long-term survival.
Amazon survived the turn of the century and all the problems that it represented, growing into a huge website in online sales.
In the end, it made its first profit in the fourth quarter of 2001, which was $ 5 million, which means that the share price was 1 cent, with revenues easily exceeding $ 1 billion.
When this small but encouraging profit margin began to be seen, it proved to the skeptics that Jeff’s unconventional business model could be predicted to be successful.
For the year 1999, Time magazine recognized Jeff Bezos as the person of the year , thus recognizing the great success of the company.
New business models
But Amazon.com never settled for the model it found, so it announced on October 11, 2016 its plans to build brick-and-mortar stores and develop curbside collection points for food.
This new business model was called “Amazon Go ” (Amazon to go), opened to Amazon employees in Seattle in 2016.
This new store is based on the use of a variety of sensors and can automatically load an Amazon buyer account as they leave the store, there are no payment lines.
And today Amazon
Amazon’s customer base developed during the decade from 2000 to 2010, reaching 30 million people.
Amazon.com is characterized as primarily a retail site with a sales revenue model.
Amazon.com’s earnings come from charging a percentage of the total sale price of each item that is placed and offered within its website.
Currently Amazon allows companies to advertise their products by paying their fees to be listed as products.
Net Income: US$21.331 billion (2020
Amazon also owns:
• Alexa Internet
• Internet Movie Database (IMDb)