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Founded by Jeff Bezos on July 5, 1994, as an online bookstore, Amazon went public after an initial public offering on May 15, 1997, during the midst of the dot-com bubble. [1] The funds gained from the IPO allowed Amazon to grow quickly, making its first three acquisitions on April 27, 1998, less than a year after the company had gone public. [2]
Bezos finally decided that his new business would sell books online, because of the large worldwide demand for literature, the low unit price for books, and the huge number of titles available in print. [12] Amazon was founded in the garage of Bezos' rented home in Bellevue. [9] [13] [14] Bezos' parents invested almost $246,000 in the start-up ...
Amazon.com, Inc., [1] doing business as Amazon (/ ˈ æ m ə z ɒ n /, AM-ə-zon; UK also / ˈ æ m ə z ə n /, AM-ə-zən), is an American multinational technology company engaged in e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. [5]
However, AWS alone accounted for $10.4 billion of Amazon's total operating profit of $17.4 billion (60%) in Q3, despite AWS only representing 17% of sales. ... First, notice how Amazon's cash flow ...
After the sale plan, Bezos would own about 912 million Amazon shares, or 8.8% of the outstanding stock. He sold shares worth roughly $8.5 billion in February, after the stock rallied 80% in 2023 ...
Amazon began offering loans of thousands of dollars to select U.S.-based sellers back in 2011, providing funds quicker than a typical bank might and automatically deducting repayments from a ...
In January 2021, Musk, with a net worth of $185 billion, surpassed Amazon founder Jeff Bezos to become the richest person in the world. [16] Bezos reclaimed the top spot the following month. [ 17 ] On September 27, 2021, after Tesla stock surged, Forbes announced that Musk had a net worth of over $200 billion, [ 18 ] and was the richest person ...
Revenue in Amazon’s core e-commerce business grew 8% to $61.4 billion on the back of a wider selection of lower-priced goods and the company’s fall sale event for Prime members.