Every week we take a deeper look at issues and stories changing your world. In our Collections, Mogul News gives you the tools you need to make up your own mind. Covering topics ranging from business and tech to global affairs and politics, they bring together handpicked articles offering insight and analysis in one place. This week we look at Amazon.
In 1994 Jeff Bezos left his job in New York and set up Cadabra in Seattle. After someone misheard the name as ‘cadaver’, Bezos contemplated using the name Relentless, but he eventually chose and stuck with Amazon. From operating out of his garage, Amazon has gone on to become the biggest e-commerce site in the world.
It started selling books in 1995 (the first one sold was Fluid Concepts & Creative Analogies by Douglas Hofstadter) but eventually ballooned into offering nearly everything imaginable.
It took ten years for Amazon to turn a profit. Even now it chooses to reinvest most of the money it makes rather than pay it out to shareholders. Its relentless expansion has seen it grow to a company worth nearly $900bn. It takes in over a third of US e-commerce sales.
That dominance has made Jeff Bezos the richest person in the world. What are the reasons behind Amazon’s phenomenal success? How has that affected other retailers? And finally, can anything stop it from growing ever bigger? Jump into the latest Collection from Mogul News and deep dive into these questions in ‘Exploring Amazon’.
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