The Success Story of Amazon.com: Amazon was founded in 1994
Amazon.com was launched in 1994 in an old house in Washington with a computer and two engineers. Jeff Bezos was only 30 then and investments for the project were only his savings. He wanted to utilize increasing internet usage for is business purpose. He had technical knowledge but no marketing skills.
Seattle: Jeff joined a bookstore management to learn marketing of books. Americans used to spend dollars and dollars on books in those days. There were very few online stores that sell books. He received six orders on the first day of launching the online Amazon book store. Though it is a burden, Jeff started offering discounts to the customers. Website was designed to be used even by people who are not aware of technology.
Slowly Jeff expanded his business to other categories also apart from boos. Presently, there is no product that is not available on Amazon. It receives nearly 300 orders per second. It expanded to almost all the world and even entered India.
- The first twelve places in online market are of Amazon’s
- PowerPoint presentations are not allowed in Amazon meetings. Even the CEO has to write his ideas on paper and come for the meetings
- Amazon went for public issue in 1997 and since then the value of Amazon share increased by fifteen thousand percent
- Six of every ten internet users in America are customers of Amazon. There are 23 crore products on sale at this online super market in America alone
- After the success of Amazon, Bezos bought The Washington Post in 2013.
- Founded in 1994, Amazon has its headquarters in Washington and now is one of the Fortune 100 companies.
Amazon.com was started as an online bookstore but soon started selling VHS tapes, DVDs, video games, electronics, furniture, jewelry, toys foods and many more. It launched kindle e-book reader; tablet and more recently it launched Fire Phone smartphone also.
For Bezos, consumer is only next to God and this can be said as the main reason for the success of Amazon. It is possible for the consumer to post their reviews on products they purchase from Amazon.
