Popular company Amazon was founded by Jeff Bezos on 5th July 1994 from his garage in Bellevue, Washington State, USA. Amazon was initially an online marketplace for books. Later it was expanded into the many types of product categories. On that time it has called as The Everything Store.
Amazon was the second largest private employer in the USA. The company chose establish their business in the Seattle area for its abundance of technology expertise. This is because Microsoft is based in this area only. Amazon went public in May 1997.
Amazon Company has several subsidiaries, including Amazon Web Services (cloud computing), Jukes (autonomous vehicles), Kuiper Systems (satellite Internet) and Amazon Lab 126 (computer hardware R&D). Due to its acquisition of Whole Foods in August 2017 for US$13.4 billion significantly increased as a physical retailer.
In the year of 2023, we think Amazon will be the world’s largest online retailer and marketplace. It was also be a provider of smart speakers. It will offer cloud computing service through AWS was also providing live streaming service through Twitch. It will be the most successful Internet Company by revenue and market share.
Amazon Company was become as the most successful Internet Company by revenue and market share.
In 1998, popular company Amazon expanded its offerings by starting to sell music and videos. Later that year it was expanded its international operations by acquiring online booksellers in the United Kingdom and Germany.
After that, Amazon Company continued to expand its product offerings by including music, video games, consumer electronics, home improvement items, software, games, and toys.
Amazon.com is an ecommerce platform that sells a wide range of products including media (books, movies and music), apparel, baby products, consumer electronics, beauty products, gourmet food, grocery, health and personal care products etc.
Industrial & Scientific supplies, kitchen supplies, jewelry, watches, lawn and garden supplies, musical instruments, sporting goods, accessories, automotive supplies, toys and games, and agricultural supplies and consulting services were available in Amazon.
Amazon operates country-specific websites, such as amazon.com for the US and amazon.fr for France, with some offering international shipping. It is projected that the number of annual visitors to amazon.com will increase from 615 million in 2008 to over 2 billion per month in 2022. It makes the 14th most visited e-commerce website in the world. In 2017, Amazon acquired Whole Foods Market as a supermarket chain.
During the COVID-19 pandemic, Amazon introduced $2 per hour hazard pay. It also made changes to overtime pay. Additionally, Amazon implemented an unlimited, unpaid time off policy until April 30, 2020. Accident Pay increase ended in June 2020 and time off policy paid in May 2022.
Due to COVID-19 pandemic, Amazon Company also introduced temporary restrictions on sales of non-essential goods. In this time it laid off 100,000 workers in the US and Canada.
Some Amazon workers in the US, France and Italy have protested the company’s decision to “implement normal shifts” despite several positive COVID-19 cases.
In Spain country, the company faced legal complaints over its policies. A group of US senators wrote an open letter to Jeff Bezos in March 2020 expressing concern about worker safety.
Amazon Company announced on February 2, 2021 that Jeff Bezos would transition from his role as CEO to “Executive Chairman” of the company’s board. On that time, “Andy Jassy”, formerly CEO of AWS, became CEO of Amazon.
In January 2023, Amazon announced job cuts for 18,000 workers in an effort to cut costs. As of 2018, Amazon.com is ranked 8th in the Fortune 500 rankings of the largest United States corporations by total revenue. Amazon Company is known for “aggressively” reinvesting technological innovation and profits into capital expenditures.
We belive Amazon will be the world’s largest online retailer and marketplace in 2023. It will be most popular provider of smart speakers. It will offer cloud computing service through AWS. It will also provide live streaming service through Twitch.
Amazon Company provides a range of downloadable and streaming services through its subsidiaries, including Amazon Prime Video, Amazon Music, Twitch, and Audible. Amazon publishes books through Amazon Studios, its publishing arm, Amazon Publishing, film and television content.
Amazon Company is the owner of film and television production company “Metro-Goldwyn-Mayer” since March 2022.
Amazon produces consumer electronics—notably, Kindle e-readers, Echo devices, Fire tablets, and Fire TVs. Amazon has been criticized for customer data collection practices, toxic work culture, tax evasion and anti-competitive behavior.
In 2000, the U.S. Toy retailer ‘Toys “R” Us’ has struck a 10-year deal with Amazon. It worth $50 million a year cut the sales. Under this agreement, Toys “R” Us will be the exclusive supplier of toys and children’s toys.
