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Almost everyone on the planet has heard of amazon.com by now, and if you haven’t, well you may have been living in isolation, because this global brand is slowly taking over the world. What’s remarkable about this e-commerce giant is that since its debut in 1994, it has become the largest internet company by revenue in the world.
Starting off as an online book store, Amazon’s founder, Jeff Bezos, had big plans to grow the name into a global phenomenon, and fast. In fact, Bezos was inspired by the River Amazon for the name of the company for two reasons; one to represent scale, and the other without a doubt most cleverly due to ‘A’ being the first letter in the alphabet, so his company would always be listed first.
During its first month in business, Amazon managed to receive orders from the U.S. 50 states and 45 countries around the globe. Not a bad start, right? As time went on Amazon did face some turbulence, during the dotcom crash, Amazon’s stock price went from $100 to just $6. amazon.com saw losses of $3 billion during its early operational years and only reported the first profit in the last quarter of 2001, that’s 6 whole years after its launch! The first full yearly profit then came in 2003 with Bezos making bigger plans and showing no intimidation of any bumps he faced along the way.
As part of growth, Bezos saw that customer service was imperative to his success, and so made it mandatory that every single Amazon employee including himself spends two days every two years on the service desk handling customer calls. As a consumer we all know that we expect a great buying experience, so once we have that consistent support, we will without a doubt keep going back to that provider. Did we mention Amazon Prime? Part of the customer service model in 2005 gave consumers the chance to become a member of Amazon Prime which offered a $79-a-year loyalty program that includes free two-day shipping on any order. Clever guy Bezos, he definitely solidified the core of success!
Amazon’s expansion went on to selling music, clothing, and then launched its third-party seller marketplace which we know today, where anyone has the ability to sell items. Slowly, Amazon became the ‘go to’ place for online shopping for anything you can imagine with absolutely no competition in sight.
Was Bezos done? Of course not! Amazon launched web services which licences its platform to other e-commerce sites, 17 years later it continues to be one of the company’s biggest revenue drivers. Over the past few years we saw many more successes of Amazon’s products as well as Bezos buying already established huge company names such as IMDb.
In 2018, Amazon not surprisingly hit a $1 trillion market cap, fuelled by its rising profits and stock prices that soared to $2,039.51. Amazon was the second company after Apple to hit the $1 trillion mark in that same year, which was definitely a historical moment.
So, what’s next? Analysts already predict that Amazon will hit the $2 trillion mark and a $10 trillion estimation by 2033. If there’s anything but an unstoppable, sustainable brand, Amazon is definitely that.
If you love trading world-dominant brands with 0% commissions, sign up with ForexTB and discover CFDs on Amazon and 190+ other stocks today.
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Sources: “CNN”, “Bloomberg”, “Mashable”, “TheStreet”, “Interesting Engineering”.
Disclaimer: The Information contained in or provided from or through this marketing material is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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