Amazon.com, is an American multinational technology company based in Seattle, Washington that focuses on e-commerce, cloud computing, digital streaming and artificial intelligence. It is considered one of the Big Four technology companies along with Google, Apple and Facebook.
Amazon is known for its disruption of well-established industries through technological innovation and mass scale.It is the world’s largest e-commerce marketplace, AI assistant provider, and cloud computing platformas measured by revenue and market capitalization.
Amazon is the largest Internet company by revenue in the world. It is the second largest employer in the United States and one of the world’s most valuable companies. Amazon is the second largest technology company by revenue.
Amazon was founded by Jeff Bezos on July 5, 1994 in Bellevue, Washington. The company initially started as an online marketplace for books but later expanded to sell electronics, software, video games, apparel, furniture, food, toys, and jewelry.
In 2015, Amazon surpassed Walmart as the most valuable retailer in the United States by market capitalization.In 2017, Amazon acquired Whole Foods Market for $13.4 billion, which vastly increased Amazon’s presence as a brick-and-mortar retailer.
In 2018, Bezos announced that its two-day delivery service, Amazon Prime, had surpassed 100 million subscribers worldwide.
Amazon distributes downloads and streaming of video, music, audiobook through its Amazon Prime Video, Amazon Music, and Audible subsidiaries.
History of Amazon
In 1994, Jeff Bezos incorporated Amazon. In May 1997, the organization went public. The company began selling music and videos in 1998, at which time it began operations internationally by acquiring online sellers of books in United Kingdom and Germany.
The following year, the organization also sold video games, consumer electronics, home-improvement items, software, games, and toys in addition to other items.
In 2002, the corporation started Amazon Web Services (AWS), which provided data on Web site popularity, Internet traffic patterns and other statistics for marketers and developers. In 2006, the organization grew its AWS portfolio when Elastic Compute Cloud (EC2), which rents computer processing power as well as Simple Storage Service (S3), that rents data storage via the Internet, were made available.
That same year, the company started Fulfillment by Amazon which managed the inventory of individuals and small companies selling their belongings through the company internet site. In 2012, Amazon bought Kiva Systems to automate its inventory-management business, purchasing Whole Foods Market supermarket chain five years later in 2017.