TCO Blog

The History of Amazon

by Ksajikyan
The History of Amazon

Online marketplaces are a great way to connect buyers and sellers.
Marketplaces offer a couple of services so they are perfect for making money so fast. They take care of processing, financial transactions and you can just enjoy your shopping.

What online marketplaces of all over the world do we know? We heard about Ebay, Etsy, Udemy, Envato, etc. Today we would like to isolate one of them which is called Amazon. Amazon is a very comfortable platform for shopping, it offers great ways for the shopping process.

How Amazon started? Amazon is Fortune 500 e-commerce company which is based on Wash, Seattle. It has the distinction of being one of the first large companies which organize fast and comfortable selling over the Internet. Amazon was founded by Jeff Bezos in 1994. Amazon started as an online bookstore and then quickly expanded its offers by adding other items including video games, music, electronics and clothing. Just 5 years after the creation of Amazon, Jeff Bezos was named Time magazine’s “Person of the Year”. He got that honor because of the company’s success in online shopping.

“Amazon” was not the company’s original name and it is so interesting fact. Jeff Bezos originally wanted to give the company the name “Cadabra”. The first lawyer of Amazon thought that this name sounded too similar to “Cadaver”. Jeff Bezos also considered the name “Relentless”, but he finally choose “Amazon” because he thought his marketplace should have a name of world’s biggest river. In the first month of its launch, Amazon had already sold books to people in all 50 states and in 45 different countries. The first employee of Amazon was Shel Kaphan. Although he is not officially considered a co-founder, he and Bezos were discussing the company even before it was incorporated. Bezos once referred him as the most important person ever in the history of Amazon. He decided to leave Amazon when Bezos hired two new tech managers and named him CTO, taking him off the front lines and making him to feel helpless. Bezos and Kaphan are no longer in touch.

Amazon is now the largest e-commerce company in the works by total sales. It is also the fourth most valuable public company in the world and the eight largest employer in the United States.

We hope you enjoy our articles! Next time will talk about other marketplaces!

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