How Jeff Bezos Start Amazon Business?
Jeff Bezos, the founder and former CEO of Amazon, started the company in 1994 while working as a senior vice president at a Wall Street firm. He decided to start an online bookstore because he saw the potential for the internet to disrupt traditional brick-and-mortar retail.
Bezos quit his job, moved to Seattle, and began working on Amazon in his garage. He initially called the company “Cadabra” (as in “Abracadabra”), but later changed the name to “Amazon” because it was a more recognizable and memorable name, and also because it began with the letter “A” which would appear at the top of alphabetical lists.
Back in July 1995, Amazon.com launched as an online bookstore. In the beginning, Amazon only had a few thousand titles, but the company quickly expanded its inventory to include more and more books. In addition, Amazon began to diversify its product offerings to include electronics, toys, and other items.
In the early days, Amazon faced significant competition from established book retailers like Barnes & Noble, but Bezos’s focus on customer service and low prices helped the company stand out. In addition, Amazon’s online platform made it easy for customers to find and purchase the products they were looking for.
As the company grew, Bezos focused on expanding the company’s product offerings and increasing its reach. He also invested in new technologies, such as the development of Amazon’s own fulfillment centers and the creation of the Kindle e-reader.
Early 2000s, Amazon started expanding into international markets and also began to offer new services such as Amazon Prime, which offered customers free two-day shipping and other benefits.
Bezos’ leadership helped Amazon become a dominant player in the e-commerce market, and the company’s success made him one of the world’s wealthiest individuals. In 2021, the company’s revenue exceeded $386 billion, and it became the second US company to reach the market capitalization of $2 trillion.
Overall, Jeff Bezos founded Amazon as an online bookstore in 1994 and through his leadership, strategic decision making, and willingness to invest in new technologies, the company grew to become one of the most dominant e-commerce companies in the world. According to the report of 2023 Jeff Bezos was the Second richest entrepreneur in the world.
