Amazon’s net sales for 2019 amounted to $280.5 billion. Two years after the company went public, Bezos was named Time Magazine’s “Person of the Year” because of his contribution towards the popularization of online shopping. Through acquisitions, the company suppressed rivals for the Kindle (Stanza) and managed to expand into other countries, including China, via the acquisition of. In 1998, Amazon acquired three companies, including .uk, which later became known as Amazon UK. So far the company has invested $160 billion into the US economy. The company was able to get $8 million in investments from Kleiner Perkins in 1995 and used it to expand and go public the following year. In 1997, Amazon became a public limited company with a share value of $18 per share.Īmazon started with a $1 million investment from more than 20 people. The increase in the Amazon customer base during seasonal holidays is why the company hires many seasonal workers. The Christmas season of 1998 was particularly challenging - employees brought in their families to help and even slept in their cars. The company’s exponential growth meant longer working hours for employees. Amazon has, at times, made its employees work 60-hour weeks. By the end of the first month, Amazon had sold books in all 50 states and across 46 countries. The company was able to generate $20,000 per week in terms of sales within 30 days. Within the first month of operation, Amazon saw booming growth.
As per Amazon book sales statistics, the company generated $20,000 per week in sales in its first month. Instead, he ordered one book that he needed and nine copies of an unavailable book about lichen. Had Bezos followed that, he would have had a massive inventory and not enough sales, and the company could have gone bankrupt. Order 10 books and pay for one – The loophole that saved Amazon from bankruptcy.īack in the day, suppliers had a rule that retailers could only order a minimum of 10 books at a time. It turned out to be a pretty powerful - and apt - name for the company, as Amazon stats indicate that the company is dominating the eCommerce industry globally. The second name Jeff favored was Relentless, but that also didn’t pan out, so he finally settled on Amazon, naming the company after the second-longest but most voluminous river in the world.
However, his lawyer advised against it since it sounded too similar to Cadaver, which means corpse. Bezos wanted to name the company Cadabra since it sounded magical. Amazon lent over $1 billion USD to small and medium-sized businesses in 2019 to fuel their growth.Īmazon wasn’t meant to be Amazon.66% of online users begin their search on Amazon, and 82% claim it is the most important online retail store.Amazon Prime demographics indicate millenials make up the majority of Prime users, and Prime users make up 65% of overall Amazon users.Only 5% of users visit the site via referrals. More than 50% of traffic to Amazon is direct or organic traffic.Amazon generates 61% of its sales through the North American market, and the company holds 45% of that region’s eCommerce market share.The company went public in 1997 and acquired 44 companies in the ensuing 15 years.By the end of its first month, Amazon had sold books to all 50 states in the US and 46 countries, and was earning $20,000 per sales.Here are 27 Amazon statistics that prove that visionary leadership can be a game-changer. The company’s growth has been explosive to say the least, so it’s safe to say it has successfully achieved its mission to be the most customer-centric company on earth, and the biggest “everything store” in the world.
Soon, Amazon had transformed itself into one of the world’s biggest online retail stores. Though the small company lacked resources, it didn’t lack vision. With a $250,000 investment from his parents, Bezos opened an online bookstore from the garage of his rented house. The same can be said for founder Jeff Bezos. Amazon has come a long way since it launched in 1995.
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