Amazon is an ecommerce company headquartered in Seattle, Washington, and is a global brand in ecommerce.
Image: company logo
It is the largest internet retailer and e-seller in the United States, and the company is led by its founder and Chief Executive Officer, Jeff Bezos. In India, Amazon has an online bookstore, music, DVDs, electronics, software food, furniture, toys and jewelry.
The company is also the world largest cloud services provider. Amazon has surpassed Walmart as the most valuable company in the United States by market capitalization in 2015.
The company was founded in 1994. It started as a bookstore selling to 50 states in over 45 countries. The company went public in 1995. The business plan of Amazon was previously unheard of. It did not go after profits for four to five years since its inception which caused majority of stockholders of the company complain about its business model. However, the company survived the Dot com bubble burst of the 2000s and its first turned profitable in 2001. The company also partnered with ToysRus and other merchants and provided them with an online retailing platform. It delivered the orders on Sundays as well by partnering with the United States Postal Service.
The company launched its India operations and its online marketplace Amazon.in in 2013. This gave its independent merchants a platform to sell directly to customers. It started off with books and video content, but soon added mobiles, DVDs, toys, apparels, furniture and home products. Through its previous version India called Junglee, Amamzon first gained market intelligence and found out the products for which market demand was greater. To counter rivals like Flipkart and Snapdeal, Amazon has recently announced that it will invest 3 billion dollars in its India operation and infrastructure development.