It is quite difficult to believe that once a non-profit online bookstore, that was founded in a small garage, has hit the $1 trillion mark in business, after 21 years. Jeff Bezos, the founder of Amazon, is one of the biggest beneficiaries of Amazon’s growth and under his leadership, Amazon has become the second tech company that has hit the $1 trillion valuations.
Noticeably, Amazon valued $600 billion in January 2018, and in just 165 days of trading, it has joined the 1 trillion club, as the second member, just after Apple. In the past, Jeff Bezos has done a few massive investments that have led Amazon to reach this position. In the beginning, Amazon was an online bookstore but now it has its hand in various other fields too.
Amazon has excelled in AI and has acquired a pharmaceutical store PillPack for $1 billion. It has revolutionised the way of shopping and its retail unit has added a lot of revenue to its growth. The main contributing industry that has helped Amazon to achieve the $1 trillion mark is AWS. The Amazon Web Services has been contributing as of 65% to the company’s growth, providing a $25 billion in revenue annually. Also, its fastest-growing ad business has generated $2 billion in quarterly sales recently.
No wonder that Amazon has become the number one retailer in the US that captures nearly half of all U.S. dollars spent online. Some analysts have even mentioned that soon Amazon can overtake Apple if it keeps growing at such pace.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.