The History of Amazon

Jeff Bezos

Amazon of Jeff Bezos

Jeffrey Preston Bezos, the founder of the famous, was born on January 12, 1964, in Albuquerque, New Mexico, when his mother, Jackie, was still in her teens. Her marriage to his father lasted little more than a year. She remarried when Bezos was five and Jeffrey took the name of his stepfather, Miguel Bezos.

In 1971 the family moved to Houston, Texas, where Jeffrey attended an elementary school, showing intense and varied scientific interests. He rigged an electric alarm to keep his younger siblings out of his room and maintain his privacy and converted his parents’ garage into a laboratory for his science projects.

Later the family moved to Miami, Florida, where Bezos attended a high school. While in high school, he attended the a student science training program at the University of Florida, which helped him receive a Silver Knight Award in 1982. He entered Princeton University, planning to study physics, but soon returned to his love of computers and graduated summa cum laude, Phi Beta Kappa with a degree in computer science and electrical engineering.

After graduating from Princeton, Bezos worked on Wall Street in the computer science field. Then he worked on building a network for international trade for a company known as Fitel. Then Bezos worked for Bankers Trust, becoming a vice-president. Later on he also worked in computer science for D. E. Shaw & Co.

In 1994, Bezos decided to take part in the Internet gold rush, developing the idea of selling books to a mass audience through the Internet. There is an apocryphal legend, that Bezos decided to found Amazon after making a cross country drive with his wife from New York to Seattle, writing up the Amazon business plan on the way and setting up the original company in his garage.

Bezos decided to name the company Amazon after the world’s largest river, and reserved the domain name The company was incorporated in the state of Washington, beginning service in July 1995. The initial Web site was text heavy and gray, it wasn’t pretty and didn’t have even listing book publication dates and other key information. But that didn’t concern Madrona Venture Group’s Tom Alberg, who invested $100000 in Amazon in 1995.

By the fourth month in business, the company was selling more than 100 books a day.

Bezos succeeded to created more than a bookstore, he created an online community. The site was revolutionary early on for allowing average consumers to create online product reviews. It not only drew people who wanted to buy books, but also those who wanted to research them before buying.

The company began as an online bookstore, but gradually incorporated a number of products and services into its shopping model, either through development or acquisition.

In 1997, Amazon added music CDs and movie videos to the Web site, what many considered to be a wise move designed to complement the company’s expansive book collection. Soon Amazon added five more product categories—toys, electronics, software, video games and home improvement.

In 1999, Time magazine (on the lower image is shown the cover) named Bezos Person of the Year, recognizing the company’s success in popularizing online shopping.

Jeff Bezos Time Magazine

Amazon’s initial business plan was unusual: the company did not expect a profit for four to five years and the strategy was effective. In 1996, its first full fiscal year in business, Amazon generated $15.7 million sales, a figure that would increase by 800 percent the following year. The company successfully survived the dot-com bubble and remains profitable till now. Revenues increased thanks to product diversification and an international presence: $3.9 billion in 2002, $5.3 billion in 2003, $6.9 billion in 2004, $8.5 billion in 2005, and $10.7 billion in 2006. In May 1997 issued its initial public offering of stock.

In 2007 Amazon launched the remarkable series of e-book readers Kindle. In 2011 Amazon entered the tablet bisuness with Kindle Fire

The site attracted over 900 million visitors annually by 2011. In 2012 the company has over 56000 employees.

In 2004, Bezos founded a human space flight startup company called Blue Origin. He is known for his attention to business process details, trying to know about everything from contract minutiae to how he is quoted in all Amazon press releases.


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