Explainers

Amazon – Online Book-Seller To One of the World’s Largest Online Retailer

April 23, 2021

Amazon – Online Book-Seller To One of the World’s Largest Online Retailer

Currently, Amazon is the world’s largest online retailer having a presence in 8 countries with a market cap of $1.6 trln.

Apart from being an online shopping giant, the company has also forayed into Cloud Storage, Game Streaming, E-Commerce, Streaming, Movie Review, E-Readers, Smart Homes, Music, Logistics & Mobile Payment.

A Walk Down the Lane

Back in the mid-1990s, Jeff Bezos, who was a Wall Street hedge fund executive, started a company called Amazon.com. Jeff came to the conclusion that books would be the most logical product to initially sell online.

However, Amazon was not the first company in the space. Computer Literacy, a Silicon Valley bookstore, began selling books online from its inventory in 1991.

But, the promise of Amazon was to deliver any book to any reader anywhere.

While Amazon.com famously started as a bookseller, Bezos contended from the very beginning that the site was not merely a retailer of consumer products. He argued that Amazon.com was a technology company whose business was simplifying online transactions for consumers.

Here’s a snapshot of its latest performance

 

 

 

Disclaimer – This content is purely for informational purpose and in no way advice or a recommendation.

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