Amazon.com, Inc, originally known as Cadabra and later renamed Amazon, is a US company that sells a wide range of products through its amazon.com website. The company was founded by Jeff Bezos on July 5, 1994 in Bellevue, Washington. It has become the world’s largest online retailer thanks to its huge product selection and low prices.
The company also produces consumer electronics – Kindle reader, Fire tablet, Fire TV and Echo- and is a major provider of cloud infrastructure services through its AWS subsidiary. In 2016, it acquired Whole Foods Market for $ 13.7 billion, which allowed it to expand its grocery business to physical stores with more than 400 locations in the United States
1. Amazon’s history
Jeff Bezos was born in Albuquerque, New Mexico. He worked on Wall Street in New York for 8 years before leaving to work at Amazon. He also met his wife while working on Wall Street. He was working in a hedge fund in the field of investment, and that’s how he got the idea for Amazon.
He wanted to start his own business, so he decided to quit his job and move with his wife to the other side of the country to Washington, where they jointly founded their first company called Cadabra (which was later changed to Amazon). He has always been interested in technology and initially wanted to start a company based on it. He just didn’t know exactly what kind of activity it would be.
After they settled down, he started looking for an idea and finally came up with the name Amazon, after the name of the longest flowing river in the world. Even though there were other companies with the name “Amazon”, he managed to get the domain name because it was available.
The Amazon logo has an arrow shaped like a smile because it wanted Amazon to be “friendly and cheerful” just like its employees. He also wanted the smile in the logo to evoke positive feelings in customers when they see it on his website.
2. What products Amazon sells and who are its competitors
Amazon sells a wide variety of products on its amazon.com site, including books, clothing, electronics, furniture, and more. It also sells a variety of Kindle e-readers, Fire tablets, Fire TVs, and Echo devices.
Amazon is one of the world’s largest technology companies and has many competitors in the business world – including Nike Corporation, Target Corporation, and Apple Inc.
The company tries to offer products at lower prices than the competition because it wants to be a seller accessible to everyone, not just the wealthy. This is why Amazon often promotes discounts on new products or older clothing lines that are no longer as popular as they used to be, so that customers can buy them at lower prices.
Amazon’s first product was the 1995 book “Fluid Concepts & Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought” by Douglas Hofstadter, which sold only a few copies. But it helped them get the attention of other publishers. Their biggest American competitor is Walmart, an international trading corporation with 11,000 stores in 28 countries around the world. In 2016, Walmart had revenues of $ 482.82 billion and a net income of $ 13.64 billion. At that time, it also employed 2.2 million employees worldwide.
3. How much income is Amazon earning and what is its earnings per share?
As of December 2017, Amazon is worth $ 705 billion. They had $ 178 billion in revenue in the last 12 months, and a net income of ~ $ 3.4 billion in the same period. It employs 471,000 people worldwide.
Amazon’s share price has risen more than 10% in 2018 to date, outperforming the broad market by more than 4%.
The company had $ 178 billion in revenue in the last 12 months and a net income of ~ $ 3.4 billion in the same period. It employs 471,000 people worldwide.
4. CEO and CFO of the company
The company’s CEO is Jeff Bezos.
The Chief Financial Officer is Brian T. Olsavsky, who joined Amazon as an Accountant in 1994 and has been overseeing global finance and accounting for 17 years.
5. Why they took over Whole Foods Market in 2016
Amazon acquired Whole Foods Market in 2016 because it wanted to provide its customers with an even greater choice of products while reducing costs and increasing the convenience for their customers. They also wanted a foothold in the brick-and-mortar grocery market.
6. What is their strategy for the future
Their main strategy at the moment seems to be to deliver more and more value to their customers by lowering prices and offering discounts on products that would normally be too expensive for anyone except the wealthy, and also providing convenience to their customers by selling online. They are also trying to expand their presence in the brick-and-mortar market by buying Whole Foods Market, which continues to do well even after the acquisition.
Amazon is the world’s largest online retailer. It sells everything from consumer electronics to food and has acquired Whole Foods Market for $ 13.7 billion. The company was founded on July 5, 1994 by Jeff Bezos in Seattle Washington USA, where it operates to this day. Today, Amazon has over 500 million active customers worldwide, making it one of the most successful companies ever!