Amazon has become the largest online retailer in the world. Amazon is a vast internet based enterprise that sells literally anything you can think of from books and movies to kitchenware and house furniture. The company has become so big that in 2012 over 1% of all internet traffic in North America comes from amazon.com. The company also is the market leading KindleEBook readers.
In 1994 Jeff Bezos created Amazon. He chose the name because it began with the first letter of the alphabet and because it is a an association of the vast South American river. Bezos researched the most logical way that the books should be sold online. However, they are not the first company to market like this. Computer Literacy, a bookstore based out of Silicone Valley, began selling books from its inventory to its astute customers 1991. Although, Amazon made a promise that no other provider has made, they would deliver any book to any reader within days.
As Amazon began as a book selling business, he slowly expanded their inventory. But at first Bezos argued that the site was not ready for more consumer products because he thought Amazon was a technology company that was simplifying online transactions for users.
Many people were skeptical about Amazon’s marketing business at the beginning. Many analysis called it the “Amazon bomb” because they came in so strong at the beginning. But they thought eventually the bigger book stores like “Barnes and Noble” would take them over once they began selling books online. The lack of profit from the company until the final quarter aligned with this information. Bezos came back at this criticism saying that these people aren’t taking in the rapid growth rate of internet businesses. He argued that his “Get Big Fast’ idea was going to take him places. He even had this slogan printed on T-shirts for his employees.
Shortly after, his slogan became a reality. They reached over 180,000 customer accounts by December of 1996. Less than a full year later in December of 1997 they had over one million customer accounts and their revenues had jumped from 15.7 million to 148 million dollars. Then continued to grow and hit 610 million dollars in 1998. They then made an appearance in New York Times Magazine for their inanely quick growth. Jeff Bezos was also named person of the year in the magazine.
The company grew in all areas. Where some sites could could offer merchandise for Amazon to sell, Amazon would fill the order and pay a commission, grew from one site in 1996 to more than 350,000 by 1999. They quickly began selling much more than books. By 1999 they were selling electronics and video games, software, home improvement items, toys, games, and much more. They pretty much sell everything you can think of, and have it delivered within the next day. Amazon has grown to be the biggest online retail cite in America.