Amazon (company)
Amazon (company) is an American multinational technology company focusing on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Five companies in the U.S. information technology industry, alongside Apple, Google, Microsoft, and Meta Platforms. Founded by Jeff Bezos in 1994, Amazon started as an online bookstore and later diversified into a wide range of products and services.
History
Amazon was founded in July 1994 by Jeff Bezos, who incorporated the company as "Cadabra, Inc." before renaming it to Amazon.com, Inc. in 1995. The company launched its website in July 1995, initially selling books. In 1997, Amazon went public with an initial public offering on the Nasdaq stock exchange. The company expanded into other product categories in the late 1990s, including music, videos, and electronics. In 2006, Amazon launched Amazon Web Services (AWS), which became a major provider of cloud computing services. The Amazon Kindle e-reader was introduced in 2007. Amazon acquired Whole Foods Market in 2017. In 2021, Jeff Bezos stepped down as CEO and was succeeded by Andy Jassy.
Business segments
Amazon operates through several segments: North America e-commerce, International e-commerce, and Amazon Web Services. The company's e-commerce platform sells both directly and as a marketplace for third-party sellers. Amazon Prime is a subscription service offering free shipping, streaming video, and other benefits. Amazon also produces consumer electronics like the Echo smart speaker and Fire TV.
Features
Amazon is known for its customer-centric approach, including one-click ordering, personalized recommendations, and fast delivery via Amazon Logistics. Critics have raised concerns about labor practices, antitrust issues, and tax avoidance. The company has a market capitalization exceeding one trillion dollars as of the 2020s.