From garage to an e-commerce empire: Amazon’s unparalleled climb

BUSINESS

The rise of the online commerce giant which went from zero to a turnover of 233 billion

From garage to an e-commerce empire: Amazon’s unparalleled climb
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From garage to an e-commerce empire: Amazon’s unparalleled climb

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From garage to an e-commerce empire: Amazon’s unparalleled climb

From garage to an e-commerce empire: Amazon’s unparalleled climb

«One of the few ways to get out of a tight box is to invent your own way out» Jeff Bezos wrote at the time. And he’d seen a lot of it - let’s face it clearly - even though he certainly didn’t expect an inscription on a white plastic rectangle with a blue spray can scribbled in the garage of his Seattle home could become the global e-giant in the future. From the numerous stories of Bezos himself, one thing is immediately clear: the sleepless nights to get stuck on the choice of name were several. The first option? «Cadabra», but rather than evoking the magic of «Abracadabra» - as Bezos intended - it sounded terribly more like «corpse.» I give up. So he began to think that his company needed a name starting with the letter A, so that it would appear at the top of the various lists. Leafing through an encyclopedia he found Amazon, like the Amazon River, the longest river in the world. To date, 25 years after it was founded in July 1994, anyone looking for Amazon in Google is unlikely to come across the river.

From the garage to the e-commerce empire: Amazon’s unparalleled climb

A curiosity. The yellow arrow that connects the letter A and Z present in the unmistakable logo will arrive many years later. There are many, perhaps too many, interpretations of the meaning, even if the most eligible is the one that offers consumers exactly what they want, that is a place where they can find everything, from A to Z. In short, the brand works. And how it works.

From the garage to the e-commerce empire: Amazon’s unparalleled climb. From zero to 233 billion

Selling books around the world was the initial idea. A sort of online library without borders and without shelves. The young American Jeff Bezos, then 30, quit the management company DE Shaw & Co with a salary of over $ 200,000 per year to create Amazon. He took his savings and those of his parents to support the initial phase of the startup. Some investors spotted him and decided to bet on him, but the internet bubble had already burst and Amazon slowly began its rise. It was 2001. But success was still a long way off.

Six years later, the colossus went public. On May 15, 1997, Amazon went public on the Nasdaq valued at $ 300 million. Going forward, he expanded the offer, selling CDs, DVDs, cameras, opened new distribution centers in the United States and welcomed other retailers on the portal. In 1999 Bezos made the cover of Time as man of the year and «king of e-commerce». It was the first time for a CEO. After a few months, however, Amazon’s shares fell due to the so-called «dot-com bubble». But Bezos didn’t give up and his e-commerce recovered.

The launch of the first Kindle, the digital book reader with a 6-inch monochrome screen, is more recent history. It will arrive in October 2009 and over the years another 15 models followed. To enrich the huge range of Amazon products came services such as Prime - which will redesign the world of e-commerce logistics - and Web Service which today guarantees the giant to make billions thanks to a series of cloud computing services. Without forgetting the Alexa digital assistant, which is increasingly widespread in homes around the world.

In 2018 it reached a catalog of over half a billion items, a turnover of 233 billion dollars and over 647,000 employees worldwide. A continuous and unstoppable growth and Amazon celebrated on Wall Street.

The king of e-commerce takes a step back

The news that Jeff Bezos will step down as CEO of Amazon , putting an end to an era that has now lasted more than 25 years. The decision to no longer be the CEO of the group was announced by Bezos himself through a letter to employees: «I am thrilled to announce that I will move to the executive chair of the Amazon Board of Directors and that Andy Jassy will become CEO», wrote the founder. by Amazon. «I intend to concentrate my energies and my attention - he pointed out in the message - on new products and first initiatives».

Jeff Bezos explains the secret of success in his letters to shareholders, reconnecting each year to that of 1997 where he notes that we must always maintain a startup attitude.

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