The Rise Of Amazon
By Space Coast Daily // July 13, 2021
It was announced at the start of the year that the founder of Amazon, Jeff Bezos, will step down after running the online company for almost 30 years. Taking over the running of the company will be the current head of their cloud computing services, Andy Jassy.
As it currently stands today, Amazon is one of the most valuable companies in the world, with Jezz Bezo being one of the richest people on Earth.
This is because the online company has gone on to become somewhat of a phenomenon with expertise in entertainment streaming, artificial intelligence (AI), cloud computing, and the home delivery of groceries.
In the year 2018, Amazon became only the second every business to be given a valuation of $1 trillion or more. Apple was the first ever company to achieve this accolade. At present day, Amazon sits third, behind Apple and Microsoft, in the value stakes.
By looking at the company’s online sales it is quite easy to see where such a large valuation comes from. For instance, in the year 2020, Amazon racked up sales of in excess of $386 billion. This is a significant improvement from the year before when they managed annual sales of $280 billion. During the same time span, the company’s net profit saw a greater than double increase to $21 billion.
One of the main things that has driven Amazon’s success is their expansion into different areas of the world and into different markets. For instance, groceries (through buying out Whole Foods Market), cloud services, devices, and video streaming are all new areas of business that Amazon have come to dominate in. For an Amazon promo code to use for any of these things, simply follow the link.
Because of these expansions, the company is now able to compete alongside the likes of some of the biggest technology companies out there, such as Netflix, Google, Apple, and Facebook.
It was in the year 2007 when Amazon launched their first ever consumer product – this was the ebook called The Kindle. This paid homage to the company’s roots in book selling. It was not long until Amazon became the global leader in this space, through exponential growth. This was despite the fact that they faced fierce competition from the likes of Google and Apple.
The success of The Kindle was followed up by the launch of the Amazon Echo – a smart speaker device. This came preloaded with Amazon’s very own system of artificial intelligence, known as Alexa. As a result of the popularity of the Echo, Amazon is now the 3rd biggest smart device seller in the whole of the United States of America.
As it stands today, the future of the company is much more complicated than simply selling a variety of different products on the world wide web. Amazon has its sights on many different areas of business, including establishing physical stores for their customers to visit and purchase goods from – all cashless and using the latest technology.