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Amazon: From Online Bookstore to Tech Empire
- Amazon was founded by Jeff Bezos in 1994 after recognizing the commercial potential of the internet and starting with selling books online.
- The company's customer-obsessed culture and focus on growth led to Amazon's rapid expansion into various product categories beyond books.
- Despite the dot-com bubble burst in 2000, Amazon survived by focusing on operational efficiency and introducing Amazon Marketplace for third-party sellers.
- The launch of Amazon Prime in 2005 marked a turning point by increasing customer loyalty through faster shipping and additional benefits.
- Amazon's diversification into Amazon Web Services (AWS) in 2006 laid the foundation for the company's dominance in cloud computing.
- Innovation further expanded with the introduction of Kindle, Alexa, and Amazon's move into groceries with the acquisition of Whole Foods.
- Under the leadership of Jeff Bezos, Amazon transformed from a startup to a tech giant touching various industries like e-commerce, entertainment, and healthcare.
- The legacy of Amazon lies in its continuous innovation, customer-centric approach, and Bezos' concept of 'Day 1' to always act with urgency and evolution.
- Andy Jassy took over as CEO in 2021 as Amazon faces challenges like antitrust scrutiny, sustainability concerns, and competition in the tech industry.
- With a focus on AI, robotics, logistics, and sustainability, Amazon continues to reshape modern life, pushing boundaries beyond just being an e-commerce company.
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