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Business Model Of Amazon

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In 1994, Jeff Bezos started an ‘online everything store.’ He began by selling books on this e-commerce platform and reached 1,80,000 accounts within a year. In May 1997, Amazon.com became a public company with $54 million on NASDAQ. The company expanded quickly and spread its products in music, electronics, videos, software, video games, games, toys, houseware, and much more. Its personalised recommendations and customer reviews developed a consumer community. Soon, in 2000, Amazon allowed small companies and individuals to sell their goods and products on the Amazon platform. Bezos always claimed Amazon was a technology company and not a retailer, substantiated by Amazon Web Services (AWS) launch in 2002. Amazon kept adding new ventures to its company, such as Kindle in 2007 and Amazon Encore in 2009. From a book store to an ‘everything store’, Amazon has also become a giant global eCommerce company. It is now the world’s sixth-largest…