Amazon was established in mid-1995 at the garage of in a suburb of Seattle, Washington, and since then the company has grown tremendously. By the end of the establishment year, amazon was successfully delivering books all across the US and in the year of 1997, Amazon went public. And since then amazon has been growing owing by expanding its product portfolio along with infrastructure, like warehouses, data centers and distribution centers.
Today, Amazon is leading e-commerce platform and has millions of subscribers across the globe. Amazon caters to the various retail needs of consumers by providing range of products to its users. The growing popularity of ecommerce trading has led to substantial growth of various vendors including Amazon. However, on Monday i.e. 7-Jan-2019, Amazon captured the top spot by achieving a gain of 3.4% and reaching the market value of USD 796.8 billion. Amazon successfully surpassed Microsoft in terms of market value, making it most valuable company in the private sector.
The Chief Executive Jeff Bezos, has helped the company reach to the stage and has made the market share more than online books selling. In the recent years, amazon has focused a lot on expansion rather than profits. Constant efforts taken by the members are responsible for the substantial growth in terms of infrastructure and revenue too.
In the year 2017, Amazon acquired whole foods market worth USD 13.7 billion. This was a game changer and opened the doors of online grocery market. Users can now buy daily grocery through the e-commerce platform. Especially in countries of Asia-Pacific, where the developing economies have caused increased popularity towards digital shopping. Amazon, has a large product portfolio and mostly you can all types of products at competitive price.
Furthermore, Amazon has also ventured in the field of online entertainment. From e-books, music to series and movies and music, amazon has a plethora of modes. Amazon kindle is a popular device for e-books at the same time prime videos is popular for those looking for entertainment in the form of series, movies and other video content. Amazon music is the latest venture through which users can listen to unlimited music. These innovative products of Amazon has also contributed to its market growth.
With the advent of 2019, Amazon is all poised up to provide further interesting content to the viewers. Increasing its customer base and catering to various subscribers.