Company profile: Amazon

Find out how the online book store became the world’s largest e-commerce marketplace

Amazon is currently the world’s third-largest company in terms of share value, behind Microsoft and Apple. In 2020 it reported net sales of $386bn.

Amazon was founded by Jeff Bezos from his garage in Bellevue, Washington, US in July 1994. Originally named Cadabra, it sold books online. 

Jeff Bezos in New York, May 2019

The company was renamed Amazon in 1995 and listed on the New York Stock Exchange (NYSE) in 1997. Amazon is located in Seattle, on the US west coast.

By 1998 the company had expanded into selling electronics, games, software, furniture, toys and groceries.

Amazon profile

It has also launched the Amazon Kindle range of ereaders, the Alexa voice assistant, and its cloud computing division Amazon Web Services. Amazon is also the owner of US supermarket chain Whole Foods Market.

AMZN price history

Date Close Change Change(%) Open High Low
Jun 28, 2022 107.37 -6.33 -5.57% 113.70 114.74 107.04
Jun 27, 2022 113.22 -4.30 -3.66% 117.52 117.89 112.60
Jun 24, 2022 116.16 3.00 2.65% 113.16 116.58 111.34
Jun 23, 2022 111.95 2.89 2.65% 109.06 112.90 107.84
Jun 22, 2022 108.01 2.29 2.17% 105.72 112.02 105.71
Jun 21, 2022 107.93 -0.66 -0.61% 108.59 111.52 107.44
Jun 17, 2022 105.72 1.06 1.01% 104.66 106.88 102.13
Jun 16, 2022 103.85 -1.40 -1.33% 105.25 105.31 101.92
Jun 15, 2022 109.26 6.22 6.04% 103.04 109.26 100.54
Jun 14, 2022 102.81 -2.07 -1.97% 104.88 105.51 101.34
Jun 13, 2022 103.66 -2.02 -1.91% 105.68 106.41 101.78
Jun 10, 2022 109.62 -7.08 -6.07% 116.70 116.78 108.97
Jun 9, 2022 116.05 -4.45 -3.69% 120.50 121.86 115.90
Jun 8, 2022 121.11 -1.19 -0.97% 122.30 123.64 120.66
Jun 7, 2022 122.18 -2.25 -1.81% 124.43 124.50 117.67
Jun 6, 2022 125.00 2.62 2.14% 122.38 128.87 122.38
Jun 3, 2022 122.38 -2.80 -2.24% 125.18 125.75 120.94
Jun 2, 2022 126.66 4.11 3.35% 122.55 126.80 119.94
Jun 1, 2022 120.91 0.61 0.51% 120.30 125.03 119.98
May 31, 2022 121.40 5.86 5.07% 115.54 121.86 114.41

A person who bought $100 in Amazon shares in 1997 IPO, as of 16 November 2020, would own stocks worth about $160,000

What does Amazon do?

As well as selling goods online Amazon owns Amazon Prime, a subscription service that provides unlimited, free one-day or same-day delivery to members. 

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This is accompanied by Prime Video, an online streaming rival to Netflix, and Prime Day, an annual sales promotion that has been compared to Black Friday in the US.

How big is Amazon?

In 2015, Amazon overtook Walmart as the most valuable retailer in the US by market capitalisation.

In 2017, Amazon acquired Whole Foods Market for US$13.7 bn and in 2018, its two-day delivery service, Amazon Prime, surpassed 100 million subscribers worldwide.

Amazon is the largest Internet company by revenue in the world. It is the second largest private employer in the United States and one of the world's most valuable companies. 

Who owns Amazon?

Jeff Bezos who founded Amazon is one of the richest men in the world. His personal wealth is estimated at $182bn. He is set to step down as CEO and become executive chairman of Amazon in late 2021. 

Where is Amazon located?

Amazon is based in Seattle, Washington, US.

Facts about Amazon

 

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