Foundation of Amazon.com
Amazon was founded by Jeff Bezos in July 1994, initially operating as an online bookstore. The idea was to leverage the internet's potential to reach a wider audience than traditional brick-and-mortar stores.
1994
1995
Launch of Amazon.com
Amazon.com was officially launched to the public in July 1995, offering a wide selection of books. It quickly gained popularity for its user-friendly interface and extensive inventory, setting the stage for future expansion.
1997
Amazon Goes Public
In May 1997, Amazon went public with its initial public offering (IPO), raising $54 million. The company’s stock was priced at $18 per share, marking a significant milestone in its growth trajectory.
1998
In 1998, Amazon expanded its product offerings to include music and video, further diversifying its catalog and appealing to a broader audience. This move helped solidify Amazon's position as a leading online retailer.
2000
Introduction of Amazon Marketplace
Amazon launched the Amazon Marketplace in 2000, allowing third-party sellers to list their products alongside Amazon's inventory. This initiative significantly increased product variety and enhanced customer choice on the platform.
2002
Launch of Amazon Web Services (AWS)
Amazon Web Services (AWS) was launched in 2002, providing cloud computing services to businesses. AWS has since become a major revenue source for Amazon, revolutionizing how companies manage their IT infrastructure.
2005
Introduction of Amazon Prime
Amazon Prime was introduced in 2005, offering members benefits such as free two-day shipping and access to streaming services. This subscription model has significantly increased customer loyalty and sales.
2007
Launch of the Kindle
In November 2007, Amazon launched the Kindle, an e-reader that transformed the way people consume books. The Kindle's success has led to a significant growth in digital publishing and e-books on Amazon's platform.
2010
Acquisition of Zappos
In July 2010, Amazon acquired Zappos, an online shoe and clothing retailer, for approximately $1.2 billion. This acquisition expanded Amazon's reach in the apparel market and showcased its commitment to customer service.
2012
Launch of Amazon Fresh
Amazon Fresh was launched in 2012, allowing customers to order groceries online for delivery. This service marked Amazon's entry into the grocery sector, competing with traditional supermarkets.
2014
Introduction of Amazon Echo and Alexa
In November 2014, Amazon released the Echo, a smart speaker powered by the voice assistant Alexa. This innovation has played a significant role in the rise of smart home technology and voice-activated devices.
2017
Acquisition of Whole Foods Market
In June 2017, Amazon acquired Whole Foods Market for $13.7 billion, marking a significant move into the brick-and-mortar retail space. This acquisition allowed Amazon to expand its grocery delivery services and enhance its physical presence.
2020
Growth During the COVID-19 Pandemic
During the COVID-19 pandemic in 2020, Amazon experienced unprecedented growth as consumers turned to online shopping. The company expanded its workforce significantly to meet the surge in demand for products and services.
2021
Launch of Amazon Pharmacy
In November 2020, Amazon launched Amazon Pharmacy, allowing customers to order prescription medications online. This service further diversified Amazon's offerings and enhanced its healthcare presence.
2024
Continued Innovations and Expansion
As of 2024, Amazon continues to innovate with advancements in artificial intelligence, logistics, and sustainable practices. The company is focused on enhancing customer experience and expanding its global reach in various sectors, including retail, technology, and entertainment.
