Amazon – The Biggest Company in the world which is known for the online marketplace, AI Assistant provider and Cloud Computing Platform as measured by Revenue and Market Capitalization. It is one of the 4 Publically Traded Companies to Reach the Trillion-Dollar Tag. Creating Such a Huge Empire was not Easy for the Man who did Job till the Age of 30. So, Today, At The Amazing Writer We are Having the Success Story of One of the Greatest Entrepreneur of Our Time, “The Richest Man in Modern History, Jeff Bezos and his Startup Amazon.
Jeff Bezos is an American Aerospace and Internet Entrepreneur, Media Proprietor, and an Investor. He is best known as the Chief Executive Officer, Founder, and President of Amazon. Bezos is Crowned as the “Richest Man in Modern History” Due to his net worth of $117 Billion (March 2020). He is the One who Started from a Geek to an Entrepreneur heading towards World Domination.
Early Life | Jeff Bezos Success Story
Jeff Bezos was born on 12th January in 1964 in Albuquerque, New Mexico to Jacklyn Jorgensen and Ted Jorgensen. His was father was a bike shop owner and at the time of Jeff Bezos’s birth, her mother was just 17 years old. The marriage of his parents lasts for little more than one year. And after that, his mother remarried to Miguel Bezos (a Cuban who immigrated to the United States alone when he was fifteen years old) in April 1968. After marriage, they moved to Houston, Texas along with four years old Jeff, where Mike became an engineer for Exxon – American, an oil and gas company that was very popular at that time.
Jeff attended River Oaks Elementary School in Houston from fourth to sixth grade. And after some time family moved to Miami, Florida where Bezos attended Miami Palmetto High School along with schooling he worked at McDonald’s as a Short Line Cook during the Morning shift. Jeff Bezos graduated with two Bachelor of Science degrees in computer science and electrical engineering from Princeton University with a 4.2 Grade Point.
Starting Story of Amazon
After completing graduation in 1986 from Princeton University, Bezos received job offers from Intel and Bells labs and Anderson Consulting. He started working at his first job at Fitel, a Fintech telecommunications startup where his role was building a network with international trade. After this startup, Bezos switched into the banking and finance industry when he became a product manager at Banker’s Trust. And then he worked at D.E. Shaw & Co, as well and became the Youngest Ever fourth Vice President at the age of 30.
Jeff Bezos founded the idea of Amazon at D.E. Shaw when he was surfing the web for the new ventures for D.E. Shaw & Co. This is the golden time when Bezos saw the statistics that World Wide Web usage was growing by over 2,300% a Month. Following Which, He understood the power of Web and Selling products online and he left his job at D.E. Shaw & Co and start working on his idea of Amazon in his garage. Bezos moved to Seattle for further planning of Amazon and there he Planned to start selling Books Online. He initially named his company as Cadabra but after some time he changed the name to Amazon. The Company was Funded with the Initial Investment of $1 Million from Family and Friends in the garage of their Seattle house.
Growth of Amazon | Jeff Bezos Success Story
After the Development of Amazon, Jeff Asked 300 of his Friends to Beta Test the Site. After the Launch of Amazon on July 19, 1995, he asked his Beta Users to Spread the Word. They Sold Books to 45 Countries within the first 30 Days. Within 3 Months, the Sales had Increased to $20,000 a Week. In June 1996, Amazon Raised $6 Million VC Funding. The Sales of Amazon were Growing at a Revolutionary rate of About 3000% Annually.
Even Though Company was Growing at a Revolutionary Rate, It was not Making any Profits. This Thing doesn’t affect Jeff as he Wanted Amazon to be Customer-Centric Company more. In May 1997, Amazon Went Public, raising About $54 Million. Amazon was one of the Few Companies that Survived the .com Crash at that Time. Jeff Was Continuing to Expand the Company and Diversified it From just Books to CDs, Clothes, Electronics and Other Major Items. The Company Announced their First Profit in the Last Quater of 2001 as $5 Million on Revenue of $1 Billion.
Jeff Bezos Launched Prime for Amazon in 2005, which Provided Fast Delivery to its users. Later Which was Extended to Prime Video and Much More. In 2006, Amazon Expanded itself in Amazon Web Services, giving Jeff Success Story a New Turn. Later in 2007, Amazon Kindle was Launched to Read eBooks. Amazon is Growing Till Date. Recently, Amazon Joined the Trillion Dollar Club for the First.
Other Ventures by Jeff Bezos
Jeff Bezos Didn’t Just Stop Upon Amazon. In 1998, He invested into a New Startup at that Time. That Is Popularly Known as Google Today. He Invested about $250,000 in the Company. In 2000, he created his Space Company Named Blue Origin. Jeff Bezos is Investing in the Company at the Rate of More than $1 Billion a Year. In 2013, he Buys the Washington Post for $250 Million. Jeff’s Venture Capital Firm ‘Bezos Expeditions’ has Invested in Multiple other Companies Including Twitter, Airbnb, and Uber.
This was the Jeff Bezos Success Story and the Story of Amazon. It is a Simple Lesson what Never Miss Opportunities and Focus on creating Them. Bezos Was Never after Money, he Just Followed his Passion and Money Followed him. Hence Before Starting out, Make Sure You’re Doing what You Love.
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