Amazon

1994-2000: EARLY YEARS

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"If you don't understand the details of your business you are going to fail."

—Jeff Bezos

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1994: Amazon Founding

Jeff Bezos launched Amazon as an online bookstore from his garage in Bellevue, Washington in 1994.

The company evenutally expanded beyond books to sell music, electronics, and other products.

1997: Amazon IPO

Amazon's 1997 IPO raised $54 million on its first day of trading, valuing the three-year-old online bookstore at $438 million.

The stock price surged from $18 to $54 per share within three months, despite the company's lack of profits.

1998: Product Expansion

By 1998, Amazon expanded from books to electronics, music, toys, and films.

Jeff Bezos seized the emerging e-commerce market, fundamentally changing how consumers shop online.

1999: International Expansion

In 1999, Amazon launched its international expansion by buying two established European bookstores: Bookpages in the UK and Telebuch in Germany.

The company hired Simon Murdoch as UK CEO to lead its European growth.

2002 Launch of AWS

In 2002, Amazon launched Amazon Web Services (AWS), using its internal cloud computing systems into services for external customers.

AWS started by offering basic storage and computing capabilities, then expanded into diverse cloud services that attracted both startups and large enterprises.

This Infrastructure-as-a-Service model pioneered the modern public cloud market.

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2001-2010 GROWTH & EXPANSION

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"We see our customers as invited guests to a party, and we are the hosts. It's our job every day to make every important aspect of the customer experience a little bit better."

—Jeff Bezos

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2004: AWS Expansion

AWS expands offerings to web services for developers.

2006: Fulfillment by Amazon

Amazon launched Fulfillment by Amazon in 2006, letting merchants store products in Amazon's warehouses and use its shipping network.

The service integrated external sellers into Amazon's supply chain, matching capabilities previously limited to Amazon's direct retail operations.

This move brought waves of new sellers to Amazon's marketplace.

2007: Launch of Kindle

In 2007, Amazon launched the Kindle, a paperback-sized screen that stored thousands of digital books.

Readers could buy and download books instantly from Amazon's digital store, carrying their entire library in one device.

2009: Acquisition of Audible

Amazon acquired Audible in 2009, adding 80,000 audiobooks to its digital media offerings.

The purchase let Amazon customers access audiobooks alongside ebooks.

2010: Acquisition of Goodreads

Acquires Goodreads book community and launches Amazon Studios.

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2011-PRESENT: MARKET LEADERSHIP

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"What consumerism really is, at its worst is getting people to buy things that don't actually improve their lives."

—Jeff Bezos

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2011: Launch of Amazon Prime

In 2011, Amazon launched Prime at $79 per year, offering two-day shipping, video streaming, and member benefits.

Prime saw consumers buying more items, more often, and stayed within Amazon's platform rather than shopping with competitors like Walmart.

By 2023, Prime has grown to hundreds of millions of members globally.

2017: Acquisition of Whole Foods

Amazon bought Whole Foods for $13.4 billion in 2017, adding 460 high-end grocery stores to its marketplace.

The purchase let Amazon compete in physical food retail while targeting wealthy shoppers.

2018: $1 Trillion

Amazon market cap passes $1 trillion.

2021: Jeff Bezos Steps Down

Jeff Bezos stepped down as Amazon CEO in 2021, after growing the company from an online bookstore into a global retail and technology leader.

Andy Jassy, who built Amazon Web Services into the company's most profitable division, succeeded him as CEO.

Bezos transitioned to executive chairman, while Jassy took control of Amazon's retail, cloud computing, and media businesses.

2023: Expansion into Prescription Drugs

Amazon announces expansion into prescription drug delivery.