Amazon went public in 1997 – Jeff Bezos held a large stake.
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| Photo image Jeff Bezos |
The stock price grew exponentially – from a few dollars per share to over $3,000 at its peak.
Bezos kept his stake instead of selling it off, helping his net worth grow along with Amazon’s growth. The product that helped Jeff Bezos become one of the richest people on the planet was Amazon.com
A brief summary of Amazon.com
Amazon, founded by Jeff Bezos in 1994, was originally an online bookstore, then expanded into all areas of e-commerce, cloud computing, technology devices, and many other services. Amazon’s outstanding success is the main foundation for Jeff Bezos’s huge fortune.
Key "products" and services that make up the Amazon empire:
Amazon.com (Online retail platform)
Started with books, then expanded to sell everything: electronics, home appliances, clothing, food, etc.
Developed the Marketplace model - allowing third parties to sell on Amazon, earning huge commissions.
Amazon Prime
Annual/monthly subscription service: fast delivery, watching movies (Prime Video), listening to music, reading books...
Created a stable source of revenue and retained customers.
Amazon Web Services (AWS)
The world's leading cloud computing service.
Provided infrastructure for millions of businesses, websites, applications (Netflix, Facebook, Zoom...).
This is the most profitable segment in Amazon.
Kindle and the e-book ecosystem
Changing traditional reading habits.
Alexa and smart home devices (Echo, Ring, Fire TV)
Leading the smart home market.
Automated logistics and warehousing
Building a giant network of transportation, warehouses, and robots to optimize costs and delivery speeds.
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