Today’s History 5th July : Amazon’s Setup

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THE MIGHTY AMAZON

jaago I appreciateOn this very day, i.e. 5th July, the E-marketing giant, Amazon was launched in the year 1994. Founded by Jeff Bezos, it started as an online books and magazine store. And later expanded itself to sell electronics, video downloads/streaming, MP3 downloads/streaming, software, video games, apparel, furniture, food, toys and jewellery.

Being a massive hit in the world, Amazon has its separate retail websites for different countries such as Italy, France, Germany, Spain, Portugal, India and many others. This great diversity of Amazon has made it the world’s largest online shopping site.

The history of the name:

On July 5, 1994, Bezos initially included the company in Washington DC with the name Cadabra. A few months later he changed the name to Amazon, which was later on to be a massive hit in the world. He chose the word AMAZON only, as it is a place that is “exotic and different” just as he had imagined for his Internet marketing scheme. Also the Amazon river is the longest river of the world. And the goal of Bezos was to make his amazon.com the largest online bookstore in the world.

The growing of the business:

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The early slogan of Amazon was “Get Big Fast,” which he had printed on his employee T-shirts. In fact, Amazon.com did grow fast, reaching 180,000 customers by December 1996. After its one year hardwork, and less than a year later, in October 1997, it accomplished 1,000,000 customers. Its revenues jumped from $15.7 million in 1996 to $148 million in 1997, followed by a massive $610 million in 1998. Amazon’s success prompted its founder to become The TIME magazine’s 1999 Person of the Year.

The Kindle hit:

In 2007, Amazon.com began to sell its own Kindle e-readers, which enable users to buy, browse, download and read e-books and helped spark up the e-market. This was a major turning point of the company. In 2011, the company introduced Kindle Fire which is a related low-cost tablet computer. And by 2012, the Kindle Fire itself constituted 50 percent of the tablets sold that used Google’s Android operating system.

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Seeing the growing of the business rapidly, the book sellers and publishers started to make contracts with the company. Making it a hit in the market worldwide and raising the websites economic profits to a higher extent.

However, there was also a sense of tension between some of the publishers and the website amazon.com. As the books which were sold at a higher price, were comparatively sold as an e-book at a comparatively lower price.

Amazon as we now know:

Thinking to buy something online!

Search it on Google and you’ll see the results by yourself. The amazon.com also hits the top of the search results which is sufficient enough to say that “YES AMAZON IS THE BIGGEST E-MARKETING SITE OF THE WORLD”

By – Vaibhav Srivastava

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