Amazon's Founding Story
Amazon was founded in 1994 by Jeff Bezos in Bellevue, Washington.
- Initially, the company focused on selling books online.
- By 1997, Amazon had expanded its product offerings to include CDs, videos, and software.
- In 2002, Amazon went public, raising $54 million in its initial public offering (IPO).
Amazon's Rise to Global E-commerce Dominance
In 2006, Amazon launched its Fulfillment by Amazon (FBA) program, which allowed third-party sellers to store their products in Amazon's warehouses and leverage the company's logistics network.
- This move enabled Amazon to expand its product offerings and improve its customer experience.
- By 2011, Amazon had surpassed Walmart as the world's largest retailer.
- Today, Amazon is a global e-commerce leader, with a market value of over $1 trillion.