Amazon–The Success Story of the Largest Online Retail Store that started from Garage | Jeff Bezos
The Story of Amazon – The Largest Online Retail Store
Headquartered in Seattle, Washington, Amazon has become today one of the finest examples of e-commerce platforms. The internet-based shopping platform is best known to deal with a huge number of options such as fashion, stationery, music, lifestyle-related items, and almost everything. Also, it has offered its services in cloud computing. Hence, when you have the application Amazon installed on your smartphone, you can enjoy a huge number of deals.
When you are talking about Amazon, you cannot forget about the Kindle. The e-book gadget kindle is introduced by Amazon in order to provide an added comfort to people who love reading. You do not have to carry so many books together when you have Kindle in which you can have a numerous number of e-books downloaded. This has also led to amazing growth in the publishing of e-books lately.
The Story of Amazon
So, why the name ‘Amazon’ is selected? It is said that Jeff Bezos, the former hedge fund executive of the Wall Street and the founder of the platform wanted a name that started with the first alphabet. Also, there are some other people who say that the name has got some connection with the Amazon River, the vast river of South America. So, what is the logic in it? The river Amazon is known for its hugeness across the world and the company was expected to spread out in the same way. Also, the first alphabet would help the company to be on the top always.
The concept of Amazon.com was similar to the Silicon Valley bookstore, to sell books initially. The concept of Amazon was quite clear. They offered the benefit of delivering any book to any customer and at any location.
Jeffrey P. Bezos established Amazon in the month of July of the year 1994. It was just in the year 1995 when the company went online and became Amazon.com. As estimated by the founder, the company came to be known quite soon because of the alphabet ‘A’ as the name’s initial alphabet. They started with books and this made them quite famous among their consumers. Though the company attracted attention since its launch, the first huge profit was earned during the last quarter of the year 2001.
Have you ever noticed the logo of the company? You will find an arrow running from the alphabet A to the alphabet Z in the name. This means that the company is able to offer you almost everything that starts with the alphabet A-Z. Also, the arrow forms a smile and this denotes that the company not only can offer you almost every item but also they offer you great customer service and satisfaction.
The Amazon shares were opened up for the public in the year 1997 with the symbol AMZN. Initially, the price of the company was $18.00 for a single share. After that, in the last 10 years, it has seen a consistent rise in the prices and presently it is somewhere around $170.00 per share. The climb in the profit was noticed since the year 2008 and now they have a target of reaching till a target price of $400 per stock. Hopefully, they will soon reach out to the target, noticing their consistent growth in both stock price and popularity.