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Who Is Amazon?

You see the name Amazon on many websites, and if you Google it you'll go to America's largest online retailer. But, how much do you know about Amazon? Who started it, how, why? We thought we'd ask the Wikipedia contributors for some help in finding out.

Here's a little of what we found.
If you'd like to read even more just click the link at the bottom of this box.

Amazon.com, Inc. is an American-based multi-national electronic commerce company. (NASDAQ: AMZN)
Headquartered in Seattle, Washington, it is America's largest online retailer, with nearly three times the Internet sales revenue of the runner up, Staples, Inc., as of January 2010.

Jeff Bezos founded Amazon.com, Inc. in 1994 and launched it online in 1995.
It started as an online bookstore, but soon diversified to product lines of VHS, DVD, Music CDs, MP3s, Computer Software, Video Games, Electronics, Apparel, Furniture, Everything for Babies, Food, Toys, Makeup, Health Products, Beauty Products, Tools, Scooters, Electric Cars, Electric Motorcycles, Gas Motorcycles, and so on.

The company began as an online bookstore; while the largest brick-and-mortar bookstores and mail-order catalogs for books might offer 200,000 titles, an online bookstore could offer more. Bezos named the company "Amazon" after the world's largest river.

The first book Amazon.com sold was Douglas Hofstadter's -- "Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought".

Amazon was founded in 1994, spurred by what Bezos called "regret minimization framework," his effort to fend off regret for not staking a claim in the Internet gold rush.

Amazon.com issued its initial public offering of stock on May 15, 1997, trading under the NASDAQ stock exchange symbol AMZN, at an IPO price of US $18.00 per share ($1.50 after three stock splits in the late 1990s).

Amazon's initial business plan was unusual: the company did not expect a profit for four to five years; the strategy was effective. Amazon grew steadily in the late 1990s while other Internet companies grew blindingly fast. Amazon's "slow" growth provoked stockholder complaints: that the company was not reaching profitability fast enough. When the dot-com bubble burst, and many e-companies went out of business, Amazon persevered, and finally turned its first profit in the fourth quarter of 2001: $5 million, just 1¢ per share, on revenues of more than $1 billion, but the profit was symbolically important.

In 1999, Time magazine named Bezos Person of the Year, recognizing the company's success in popularizing online shopping.

Amazon has established separate websites in Canada, the United Kingdom, Germany, France, Japan, and China. It also provides international shipping to certain countries for some of its products.

Since 2000, Amazon's logotype is an arrow leading from A to Z, representing customer satisfaction (as it forms a smile); the goal was to have every product in the alphabet.

The hugely successful Amazon Marketplace service was launched in 2001 that let customers sell used books, CDs, DVDs, and other products alongside new items.

On January 15, 2009, a survey published by Verdict Research found that Amazon was the UK's favorite music and video retailer, and came third in overall retail rankings.

Amazon.com powers and operates retail web sites for Target, Sears Canada, Benefit Cosmetics, bebe Stores, Timex Corporation, Marks & Spencer, Mothercare, and Lacoste.

And for a growing number of enterprise clients, currently including the UK merchants Marks & Spencer, Benefit Cosmetics' UK entity, and Mothercare, Amazon provides a unified multi-channel platform where a customer can seamlessly interact with the retail website, standalone in-store terminals, or phone-based customer service agents. Amazon Web Services also powers AOL's Shop@AOL.

As of March 26,2010, Amazon has a higher market share than that of Target, Home Depot, Costco, Barnes and Noble, and Best Buy, only trailing behind that of Walmart among American brick and mortar retailers.

So what exactly does Amazon sell?
Here's a short answer to that question.

Amazon has steadily branched into retail sales of music CDs, videotapes and DVDs, software, consumer electronics, kitchen items, tools, lawn and garden items, toys & games, baby products, apparel, sporting goods, gourmet food, jewelry, watches, health and personal-care items, beauty products, musical instruments, clothing, industrial & scientific supplies, groceries, and more.


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