Amazon is 30. Here's how a book store gobbled up all of e-commerce
What led Jeff Bezos to start Amazon in 1994?
In 1994, Jeff Bezos, then an investment banker on Wall Street, decided to capitalize on the burgeoning dot-com boom. He envisioned an online store that could sell a wide variety of goods, beginning with books. Bezos believed that an online bookstore could offer a wider selection and convenience to customers. He left his job and founded Amazon in his garage in Bellevue, Washington.
Why did Bezos initially focus on selling books?
Bezos initially focused on selling books because they were relatively cheap, didn't spoil, and were sturdy to ship. There were also millions of books in print, making it a product with vast potential for an online store. This choice allowed Amazon to build a strong foundation and eventually expand into other product categories.
How did Amazon expand beyond book sales?
Amazon expanded beyond book sales by acquiring companies in various industries, such as software, robotics, and grocery stores3. They also invested in technology and logistics, opened their marketplace to small businesses, and focused on fast shipping and customer satisfaction. This diversification allowed Amazon to become a global e-commerce giant.