The logo of renowned E-commerce Company, Amazon is an extremely simple logo where the arrow on the logo just looks like a smile, that is pointing from A to Z, which clearly means that Amazon sell almost everything from A to Z, and brings a smile on the faces of customers whenever they purchase a product.
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Founded late in 1994, the Company started as an online bookstore, but rapidly step in to selling almost everything ranging from VHSs, DVDs, Video, CDs, MP3, software, electronics, jewelry, toys and apparel online.
The Amazon also produces consumer electronics such as, kindle e-book readers, fire TV, fire tablets and fire phone. Also, the company known as a major service provider for cloud computing.
The company has their separate retail websites for different geographic locations, including the United States, Germany, United Kingdom & Ireland, France, Canada, Italy, The Netherlands, Spain, Brazil, Australia, Japan, India, China and Mexico.
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The Founder of the company, Bezos, selected the name Amazon in the name of the biggest river on the earth, “Amazon River”, as he intended to make his store the biggest store in the globe. The Amazon was originally started in the garage of Bezos.
In initial days as a start-up, the Amazon started as an online book store and sold its first book “Douglas Hofstadter’s Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought” on Amazon.com.
Within the first two months of the trade, Amazon took the sells to all 50 states and over 45 countries, but the company’s initial business strategy was unusual and it did not suppose to make a profit for four to five years. Later, stockholders started to complain about the company slow growth rate due to which they thought that company is not reaching to the profitability fast enough to survive in the long run. But, the company survived and finally made its first profit of $5 million in the fourth quarter of year 2001.
The times Magazine honoured Bezos for title of the “Person of the year” in 1999, acknowledging the Amazon success in spreading online shopping worldwide.
In 1997, Barnes & Noble sued Amazon for claiming to be the “largest bookstore in the globe”. Later on, the case from Barnes & Noble was settled down out of the court. On October 16, 1998, Walmart also sued Amazon asserting that the company had stolen trade secrets of Walmart by hiring their former executives and employees. Though, this case was also settled out of the court, but it results in implementing internal restrictions in the Amazon and also the reassignment of the past executives of Walmart.
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