Amazon is an American multinational technology company that sells books, music, movies, housewares, electronics, toys, and many other goods, either directly or as the middleman between other retailers and Amazon’s millions of customers.
There are a lot of things to learn from Amazon’s history. Think you know it all? Here are 7 things surprising things to know about Amazon.
Products/Services
Did you know that Amazon has over 20 services that they offer? Cool, right? Amazon has a lot to offer its customers both home and abroad, we might be familiar with some of the services.
Here are some of the services/products Amazon offers: Amazon Music, Amazon Core 10, Amazon Prime, Amazon Kindle, Amazon, Amazon Smile, Amazon Garage, Amazon Games Studios, Amazon Studios, Amazon Luna, Honor System, Amazon Locker, Amazon Handmade, Amazon Home Services, Amazon Halo, Amazon Fresh, Amazon Fire TV, Amazon Fire Tablet, Amazon Drive, Amazon Business, Amazon Appstore, Alexa (made by Amazon), Amazon Advertising, Amazon Smile, Amazon Home Services, Amazon Inspire Amazon Kindle Direct Publishing, Amazon Pharmacy, Amazon Prime Air, Amazon Prime Book Box, Amazon Prime Now, Amazon Publishing, Amazon Vine, Amazon Web Services, Amazon Cash, Amazon Underground, Amazon Restaurant and so on.
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The Name
On July 5, 1994, Jeff Bezos initially incorporated Amazon in Washington state with the name Cadabra, Inc. Though he changed it to Amazon.com, Inc, because a lawyer misheard its original name as “cadaver”.
The company started out selling books
When Jeff Bezos started the company in 1995, it was just a bookstore run out of his home garage. Amazon started as a bookselling platform.
Achievements
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 US$13.4 billion, which substantially increased its footprint as a physical retailer. In 2018, its two-day delivery service, Amazon Prime, surpassed 100 million subscribers worldwide.
Amazon is known for its disruption of well-established industries through technological innovation and mass scale. It is the world’s largest online marketplace, AI assistant provider, live-streaming platform and cloud computing platform as measured by revenue and market capitalization. Amazon is the largest Internet company by revenue in the world. It is the second-largest private employer in the United States and one of the world’s most valuable companies. As of 2020, Amazon had the highest global brand valuation.
Media/Entertainment
Amazon apart from being one of the largest e-commerce stores offers a wide range of entertainment. Amazon Prime, Amazon Music and Amazon Studio provide premium movies and music worldwide to its users.
COVID-19
Amazon recorded huge profits especially during the lockdown worldwide. The organization witnessed a surge in orders which created jobs and provided care for its workers and frontline workers.
CEO
BizWatch Nigeria reported that Jeff Bezos has stepped down from the role of Chief Executive Officer (CEO) of the company, handing the baton over to Andrew Jassy.
He will take the position of executive chair, turning his focus on other businesses like his space company Blue Origin, among others.
Earlier in the year, BizWatch Nigeria reported that Bezos said “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.
