Amazon has gone a long way, similar to the history of other companies whose activities were related to IT technology. Jeff Bezos founded the corporation. The company’s first servers were installed in his garage. The initial orientation of the business is book trading. This product has been selected solely for reasons of practicality. Books do not need to be tried on, they are easy to store, and the price of these products is quite high. After a month of operation, the company sent goods to forty countries of the world. In one year, Jeff Bezos will be able to earn a profit of 20 thousand dollars.
The popularity of the trading platform has been continually growing. This was because the service site was straightforward and user-friendly. It was on this site that a feedback system was first introduced. An interesting fact is that many discouraged the founder of the company from entering this option. It was believed that negative comments would scare away new customers. However, Bezos did not listen to anyone and introduced a feedback system on his site. This led to the fact that visitors to the portal began to communicate more with each other, and more often make repeat purchases.
Amazon’s primary mission was to provide convenient and straightforward services that make shopping pleasant and comfortable. Products are always in front of users, product sorting is simple and straightforward, and the portal’s interface is intuitive. The implementation of this concept has made the use of the service enjoyable and comfortable. This encouraged customers to shop again and again.
Jeff Bezos studied the work of significant market players. His business is continuously evolving and modernizing. In 1999, the company’s shares began to be sold on the NASDAQ. The sale of the company’s securities helped to attract significant resources. This has allowed Amazon to turn from a small online bookstore into an international marketplace. After some time, the company was already actively absorbing competitors, capturing an increasing market share.
Corporate profits increased exponentially. However, the company’s stock price showed moderate growth. The strategy of the founder of the corporation initially implied following a long-term plan. This approach has allowed Amazon to survive several crises safely.
Now the corporation uses contextual advertising technology, applies for affiliate programs, and provides cloud services. The corporation also launched production under its brands. The company produces ebooks, various devices, etc. On the corporation’s website, you can buy a wide variety of products. Currently, it is sorted into 35 separate categories. Amazon is a one-stop shopping platform for comprehensive shopping.
Amazon’s initial public offering was a scandal. It ended successfully but was overshadowed by litigation with a rival firm. Initially, one share was worth USD 15. Two years passed, and their price reached USD 100. During the crisis, stock prices sank significantly. However, it quickly recovered.