Why Is Amazon.Com Essay

915 WordsMay 30, 20134 Pages
Why is Amazon.com? Founding Amazon.com began as an online bookstore which first “debuted in July 1995 and quickly became the number one book-related site on the Web” ("Amazon.com, inc. history," ). The company’s founder, Jeff Bezos, chose Seattle because of its “large high-tech work force and its proximity to a large book distribution center in Oregon ("Amazon.com, inc. history," ). Jeff Bezos’s early life helped to prepare him to pioneer the ecommerce revolution. A graduate of Princeton University with a degree in computer science and electrical engineering, he went on to work on Wall Street studying market trends before eventually changing to network development ("Jefrey p. bezos," ). His final job which he quit to start Amazon.com was working as the Vice President of D.E. Shaw which was “a firm specializing in the application of computer science to the stock market” ("Jefrey p. bezos," ). His education and work experience put him in an excellent position from which he could see the potential for ecommerce. Due to the rapid growth of the Internet during the mid-1990s and the lack of an already established online bookstore, Bezos’s startup company was able to achieve startling success with very little investment. At the time Amazon went online, the number of users on the internet were expanding by 2,300 percent each year ("Jefrey p. Bezos," ). One month after going online, with no advertising or marketing budget, Amazon “had sold books in all 50 states and 45 foreign countries” ("Jefrey p. Bezos," ). In 2000, most of the technology stocks did not escape the trap of the Dot.com bubble. However, Jeff Bezos had proved himself that he is one of the best equity sales traders in financial history. In the late 1990s, he used the stock and bond trading to earn billions of dollars. That money invested in Amazon.com to repairing a lot of

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