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History of Amazon

Amazon is an America-based multinational technology company headquartered in Seattle, with 750,000 employees. It provides various technology services such as e-commerce, cloud computing, digital streaming, and artificial intelligence. It is considered one of the Big Four tech companies, along with Google, Apple, and Microsoft. It has been referred to as “one of the most influential economic and cultural forces in the world”. 

Amazon Founder Jeff Bezos - Net Worth, Wife, House & Education

Amazon was founded by Jeff Bezos (Jeffrey Preston Bezos) in July 1994. He chose Seattle because of technical talent as Microsoft is located there. 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 the United Kingdom and Germany. Within a year, the company started selling video games, home essentials, consumer electronic items, and softwares as well.

Amazon Web Services was started in 2002, which aimed to provide data on website 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. The company continued to flourish and acquired Kiva Systems to automate its inventory-management business in 2012. 

Amazon Net Worth & Board of Directors-

- Jeff Bezos, President, CEO, and Chairman

- Rosalind Brewer, Group President, and COO, Starbucks

- Jamie Gorelick, partner, Wilmer Cutler Pickering Hale, and Dorr

- Daniel P. Huttenlocher, Dean of the Schwarzman College of Computing at the Massachusetts Institute of Technology

- Judy McGrath, former CEO, MTV Networks

- Indra Nooyi, former CEO, PepsiCo

- Jon Rubinstein, former Chairman, and CEO, Palm, Inc.

- Thomas O. Ryder, former Chairman, and CEO, Reader's Digest Association

- Patty Stonesifer, President, and CEO, Martha's Table

- Wendell P. Weeks, Chairman, President, and CEO, Corning Inc

Amazon Subsidiaries - Companies that has bought or acquired

Apart from its mainstream businesses, the company owns over 40 subsidiaries, including Zappos, Shopbop, Diapers.com, Kiva Systems (now Amazon Robotics), Audible, Goodreads, TeachStreet, Twitch and IMDb.

Key Industries Where Amazon has its presence-

- E-commerce

- Artificial intelligence

- Consumer electronics

- Digital distribution

- Grocery stores

The Amazon annual revenue of the company in 2019 was USD 280.52 billion and it is powered by 7,50,000 employees across the globe.