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Amazon.com E-commerce company OverviewPeople also search for amazon.in Amazon.com, Inc. is an American multinational technology company based in Seattle, Washington, which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Wikipedia CEO: Jeff Bezos (May 1996) Trending Customer service: 1800 3000 9009 Contact.09064017013 Stock price: AMZN (NASDAQ) $3,222.90 +61.43 (+1.94%) 14 May, 4:00 pm GMT-4 - Disclaimer Founder: Jeff Bezos Founded: 5 July 1994, Bellevue, Washington, United States Headquarters: Seattle, Washington, United States Subsidiaries: Audible, Zappos, Whole Foods Market, AbeBooks, Amazon Fresh, Amazon.ae, Ring Learning Center>Startup Stories>Amazon Startup Story Amazon Startup Story Introduction This startup story features Jeffrey P. Bezos, the innovative founder of Amazon. The company, which now generates over $61 Billion in Revenue and holds the title as the worlds largest online retailer, was started out of Bezoss garage at 30 years old. Amazon Stats: Industry: Online Retailing Annual Revenue: $61.09 Billion # of Employees: 97,000 Famous For: Being the worlds largest online retailer How Amazon Got Started The year was 94 and Bezos was working diligently on Wall Street. At 30 years old, he began to see the internet revolution take place, and made the decision to quit his job and start an internet company. The wake up call was finding this startling statistic that web usage in the spring of 1994 was growing at 2,300 percent a year. You know, things just dont grow that fast. Its highly unusual, and that started me about thinking, What kind of business plan might make sense in the context of that growth? After making a list of the top 20 products that he could potentially sell on the internet, he decided on books because of their low cost and universal demand. It turns out, it was just the beginning.. The Founders Start As a child, he spent summers at his grandfathers ranch in southern Texas, laying pipe, vaccinating cattle and fixing windmills. The 18-year-old Bezos said he wanted to build space hotels, amusement parks and colonies for 2 million or 3 million people who would be in orbit. The whole idea is to preserve the earth he told the newspaper . The goal was to be able to evacuate humans. The planet would become a park. Amazons Funding The initial startup capital came from his parents personal savings. From an interview with Jeff Bezos, for the Academy of Achievement: The first initial start-up capital for Amazon.com came primarily from my parents, and they invested a large fraction of their life savings in what became Amazon.com. And you know, that was a very bold and trusting thing for them to do because they didnt know. My dads first question was, Whats the Internet? Okay. So he wasnt making a bet on this company or this concept. He was making a bet on his son, as was my mother. So, I told them that I thought there was a 70 percent chance that they would lose their whole investment, which was a few hundred thousand dollars, and they did it anyway. Follow on Funding Amazon raised a series A of $8M from Kleiner Perkins Caufield & Byers in 1995. In 1997, Amazon went public to raise additional capital. By 1999, the value of the Kleiner Perkins Caufield & Byers investment in Amazon created returns of over 55,000%. Years to profitability Within two months, Amazons sales were up to $20,000/week. However, the company has continued to plow their revenue back into growth. The chart below depicts Amazons continued focus on long-term growth, with profit remaining near $0 or below, and revenue rising. Amazon Profitability Important Amazon Milestones: 1994: Jeff Bezos quits his job and launches Amazon out of his garage. Within 30 Days, it is doing $20,000 per week in sales. 1995: Bezos raises an $8 Million round of funding from Kleiner Perkins. 1997: Amazon goes public at $18 per share. 1999: Bezos is named Time Magazines Person of the Year for popularizing online shopping. 2009: Bezos acquires Tony Tsiehs Zappos through a stock swap. 2013: Bezos acquires the Washington Post. Companies Amazon Has Acquired: Amazon has made over 44 notable company acquisitions over the years. Its first Acquisition was in 1998. 1998: PlanetAll, Junglee, Bookpages.co.uk (later became Amazon UK). 1999: Internet Movie Database (IMDb), Alexa, Accept.com, and Exchange.com 2003: CDNow (Defunct) 2004: Joyo.com, an e-commerce site in China. 2005: BookSurge, Mobipocket.com, and CreateSpace.com. 2006: Shopbop, a womens luxury retailer. 2007: DPReview.com and Brilliance Audio. 2008: Audible.com, Fabric.com, Box Office Mojo, AbeBooks, Shelfari, and Reflexive Entertainment. 2009: Zappos, Lexcycle, SnapTell, Stanza (Kindle Rival). 2010: Touchco., Woot, Quidsi, BuyVIP, and Amie Street. 2010: Toby Press 2011: LoveFilm, The Book Depository, Pushbutton, and Yap 2012: Kiva Systems, Teachstreet, and Evi 2013: IVONA Software, GoodReads, and Liquavista Jeff Bezos Startup Advice We are stubborn on vision. We are flexible on details. We dont give up on things easily. Our third-party seller business is an example of that. It took us three tries to get the third-party seller business to work. We didnt give up. If youre not stubborn, youll give up on experiments too soon. And if youre not flexible, youll pound your head against the wall and you wont see a different solution to a problem youre trying to solve. COMMENTS No comments yet. GET OUR WEEKLY NEWSLETTER Join over 40,000 of your peers who receive regular updates on Fundable, crowdfunding, and starting a business. you@email.com SUBSCRIBE RECENT STARTUP STORIES March 27, 2014 Patron Tequila Founder - John Paul DeJoria January 20, 2014 DC Shoes Startup Story January 20, 2014 Pom Wonderful Startup Story January 20, 2014 Samuel Adams Startup Story January 20, 2014 Spanx Startup Story Ready to Start Raising Capital? 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