HOW AMAZON CAME INTO EXISTENCE
“AMAZON” the word typically means a very strong woman. As the name suggested AMAZON.COM now has became the world’s most trusted and strongest e-commerce website. The Organization was established in 1994. AMAZON is considered as the prime in online trading and it has stretched their business mainly during late 1990.It has a big warehouse to offer books, DVDs, CDs ,home appliances, kitchen appliances and many more.
History of Amazon
The Organization was established in 1994. Jeff Bezos was the founder and CEO of AMAZON.com. In 1994, Bezos resigned from his former company as vice-president of Co. and moved to Seattle. He started to work on a business plan and thought to develop an unique, innovative business .First he named the company as ‘cadabra’ .Bezos altered the name ‘cadabra’ to ‘AMAZON’ because it much mirrored like cadaver. Addition to that a name which starts with ‘A’ will always be beneficial as it has the probability to occur at the top of any list or contents that was alphabetized.
Bezos selected the name Amazon as there was a zone that was alluring and contrasting. Just like his imagined store. The river Amazon is the biggest river in the world, and he outlined to make his trading store the super colossal in the world.Bezos wanted to show the world “The Uniqueness and Innovativeness”. AMAZON now has become most trusted online repository website. Its reputation is very good. For the virtual online stores reputation and brand name matters a lot.
After the thorough study about the future of the Internet which framed the e-commerce growth at a high rate, Bezos selected list of almost near about 20 products to be advertised online. He reduced the list to five most important as well as promising products which included: CDs, Hardware of computers, and Software of computers, different types of videos, and many books which has the higher changes to be sold out. Finally the CEO decided that his new business would sell various types of books online, as literature demand is very high, the low priced books, will attract the common man. Amazon was firstly situated in Bezos’ garage which is in Bellevue, Washington. . The founder selected Seattle as the company headquarters .Bezos worked to collect funds for the company and the CEO himself worked with software developers to build the company’s web site very attractive.
AMAZON as an online bookstore
AMAZON stared his business as the online bookstore, a thought came to the CEO after discussing the matter with John Ingram of Ingram Book (Now it is called as the Ingram Content Group), and with Keyur Patel who still has share in Amazon. In the early months mainly in first 2 months business, Amazon traded with over 45 countries and 50 states. Within two months of starting, Amazon’s sales were outstandingly good and it was up to $20,000/week. The largest bookstores of any country can contain huge number of books but the capacity of a online bookstore is several times more than the largest bookstore of the country. Because it has a large database which can store unlimited no of books title. Nothing more is required. So the space was not a concern. From 2000, Amazon’s logo was in the website .It looked like a curved arrow directing from A to Z, That indicates the company carries each and every product starting from A to Z .And another interesting thing is that the arrow framed like a smile which gives the customer a positive feeling.
Within 2 years, Amazon.com became a reputed public company. Bezos worked on improving the productivity of the website and betterment of the company’s distribution capabilities.
As company was eventually growing, CEO declared in October 1997 that Amazon would be the first Internet retailer to reach the milestone of 1 million customers of 50 states and now 160 countries worldwide, what had started in CEO’s garage.
Amazon.com also stretched its business through a trio of acquisitions in 1998. Two of the companies were decided to stretch Amazon.com business into Europe. Book pages which is one of the largest online booksellers in the UK, gave Amazon.com access to U.K. Telebook which the largest online bookseller in Germany, gives access to Germany market. Another big decision was to enter into music business. Bezos wanted to make the site most user-friendly to the customers and the music store was also successful.
AMAZON launched an auction service. It also began offering toys and electronic goods. In 1999, Bezos received the “person of the year “award. Thus AMAZON is continuing is growth day by day.
Now AMAZON has reached a level. From Handbags, jewelleries to android Kindle tabs all are centred in one store. And it has become the most trusted website for e-commerce.