Amazon Ecommerce

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  • Topic: Amazon.com, Jeff Bezos, Dot-com bubble
  • Pages : 4 (1321 words )
  • Download(s) : 75
  • Published : March 3, 2013
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History
The company was founded in 1994,by Amazon founder Jeff Bezos, spurred by what Bezos called his "regret minimization framework", which described his efforts to fend off any regrets for not participating sooner in the Internet business boom during that time. Amazon was originally founded in Bezos' garage in Bellevue, Washington. The company began as an online bookstore. IN the first two months of business, Amazon sold to all 50 states and over 45 countries. Within two months, Amazon's sales were up to $20,000/week. While the largest brick-and-mortar bookstores and mail-order catalogs might offer 200,000 titles, an online bookstore could "carry" several times more, since they had an almost unlimited virtual (not actual) warehouse: those of the actual product makers/suppliers. Bezos wanted a name for his company that began with "A" so that it would appear early in alphabetic order. He began looking through the dictionary and settled on "Amazon" because it was a place that was "exotic and different" and it was one of the biggest rivers in the world, as he hoped his company would be. Since 2000, Amazon's logotype has been an arrow leading from A to Z, representing that they carry every product from A to Z. Amazon was incorporated in 1994, in the state of Washington. In July 1995, the company began service and sold its first book on Amazon.com: Douglas Hofstadter's Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought. IN October 1995, the company announced itself to the public. IN 1996, it was reincorporated in Delaware. Amazon issued its initial public offering of stock on May 15, 1997, trading under the NASDAQ stock exchange symbol AMZN, at a price of US$18.00 per share ($1.50 after three stock splits in the late 1990s). Amazon's initial business plan was unusual; it did not expect to make a profit for four to five years. This "slow" growth caused stockholders to complain about the company not reaching profitability...
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