From its start as an online bookstore to its rise in e-commerce and cloud computing, Amazon (AMZN) has become one of the world’s most iconic brands.
In 2023, the tech juggernaut generated over $575 billion in revenue, boasting more than 200 million Amazon Prime members worldwide. Beyond the Ticker takes a deep dive into some of the company’s biggest moments.
1994
Amazon was founded in 1994 by Jeff Bezos from his garage in Bellevue, Washington. It was originally an online bookstore designed to compete with Barnes & Noble (BNED).
1997
On May 15, 1997, Amazon went public via IPO at $18 per share, giving it a valuation of $300 million.
1998
Amazon began selling CDs, marking the start of its effort to become a shopping Goliath.
2005
The company launched Amazon Prime, a $79 per year membership with free two-day shipping on eligible orders.
2006
Amazon launched Amazon Web Services (AWS). The platform would go on to become the top cloud computing platform, ahead of rivals Microsoft (MSFT) and Google (GOOG, GOOGL), and one of Amazon’s most successful businesses.
2011
The company rebranded its video service as Amazon Instant Video with access to 5,000 movies and TV shows for Prime members.
2014
Amazon acquired the video game streaming website Twitch for $970 million.
2017
Amazon acquired high-end supermarket chain Whole Foods in 2017 for $13.7 billion. It has since integrated the two companies, offering discounts to Prime members.
2018
On September 4, 2018, Amazon became just the second US company ever to reach a $1 trillion market cap, after Apple (AAPL) reached it earlier in the year.
2020
Amazon’s sales and profits surged during the Covid-19 pandemic in 2020, as consumers turned to online shopping. Its total sales increased 38% year-over-year to $386.1 billion, and net income increased 83% to $21.3 billion.
2021
Founder Jeff Bezos announced that he would step down from his role as CEO and be succeeded by AWS CEO Andy Jassy.
2024
Amazon was added to the Dow Jones Industrial Average, replacing drugstore giant Walgreens (WBA).
The company continues to evolve, investing billions in AI startup Anthropic, developing more smart home products, and launching an AI shopping assistant named Rufus. It’s safe to say Amazon is a staple of the digital age.
From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street’s trending companies and how they transformed into the financial icons they are today.
Check out more of our Beyond the Ticker series, and be sure to tune in to Yahoo Finance.
Editor’s note: This video was produced by Zach Faulds.
Video Transcript
[MUSIC PLAYING]
– From its start as an online bookstore to its rise in e-commerce and cloud computing, Amazon has become one of the world’s most iconic brands. In 2023, the tech juggernaut generated over $575 billion in revenue. And boasted more than 200 million Amazon Prime members worldwide.
Beyond the Ticker takes a deep dive into some of the company’s biggest moments. Amazon was founded in 1994 by Jeff Bezos in his garage in Bellevue, Washington. The company was originally conceived as an online bookstore designed to compete with Barnes and Noble.
On May 15, 1997, Amazon went public via IPO at $18 per share. One year later, the company began selling CDs, marking the start of its effort to become a shopping Goliath.
In 2005, Amazon launched Amazon Prime. A $79 per year membership with free two-day shipping on eligible orders. A year later, Amazon launched Amazon Web Services. The platform would go on to become the top cloud computing service ahead of those from rivals Microsoft and Google. And one of Amazon’s most successful businesses.
In 2011, Amazon rebranded its video service as Amazon Instant Video with access to 5,000 movies and TV shows for Prime members. Three years later, Amazon acquired the video game streaming website, Twitch, for $970 million.
Amazon then acquired high-end supermarket chain Whole Foods in 2017 for $13.7 billion. It has since integrated the two companies, offering discounts for Prime members. On September 4, 2018, Amazon became just the second US company ever to reach a $1 trillion market cap after Apple reached it earlier in the year.
Amazon sales and profits surged during the COVID-19 pandemic in 2020, as consumers turned to online shopping. In 2021, Bezos announced that he would step down from his role as CEO and be succeeded by AWS CEO Andy Jassy.
In 2024, Amazon was added to the Dow Jones Industrial average, replacing drugstore giant Walgreens. The company continues to evolve, investing billions in startup Anthropic, developing more smart home products, and launching an AI shopping assistant named Rufus.
It’s safe to say Amazon is a staple of the digital age.
Wanda Parisien is a computing expert who navigates the vast landscape of hardware and software. With a focus on computer technology, software development, and industry trends, Wanda delivers informative content, tutorials, and analyses to keep readers updated on the latest in the world of computing.
