Sunday, June 11, 2017

Amazon.com

Amazon.com is an e-retailer established by Jeff Bezos for selling books. Because books are standard goods, they are suitable for sale through the internet; it makes little difference whether a book is bought from a physical or a cyber bookstore.

Named for the world’s largest river, Amazon.com was the brainchild of entrepreneur Jeffery Bezos.

Jeff Bezos started studying at Princeton in the fall of 1982 majoring in electrical engineering and business administration. He graduated summa cum laude in 1986 with a grade point average of 3.9 and was elected to Phi Beta Kappa.
Like a number of other entrepreneurs of the early 1990s, Bezos had been searching for a way to market to the growing number of people who were going online.

He soon decided that books were a good first product, since they were popular, nonperishable, relatively compact and easy to ship. The Amazon.com website was launched on July 16th 1995.

Initially been laughed at, Jeff Bezos adhered to the idea and set up the word most popular internet store. The company was funded during those first six months by Jeff and Mackenzie Bezos, who purchased 10.2 million shares of common stock for $10, 000, while advancing the new company an interest free loan of $44, 000.
Amazon.com
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