By: Kim Tranter
Jeff Bezos is the founder of the famous e-commerce site, amazon.com. He grew up in Albuquerque, New Mexico and Texas and attended Princeton University, receiving a computer science degree. In 1994 he noticed the potential for e-commerce and left a well-paying job in an investment firm to work in his garage and launch Amazon. It is said that he developed his business plan while driving across country from New York to Seattle.
Initially Bezos invited about 300 friends and acquaintances to test his idea of selling books online. Less than one month after starting his site, he had sold books in all 50 states and 45 countries. After two months, his sales topped $20,000 a week. Critics felt that Bezos would be bought out by the big boys of Barnes and Nobel or Borders and that Bezos was burning through cash too quickly. But they were wrong; Amazon earned its first full year profit in 2003. By 2008, the company’s revenue had reached 4 billion. In the 4th Quarter of 2011, Amazon sales were 17.43 billion.
The success of Amazon.com is attributed in great part to some great customer service. Customers were treated to the “one-click” system for shopping, verification of orders and customer product reviews for the first time ever. These novel ideas were instantly successful.
Bezos has joked that the success of Amazon was “half due to luck, half to timing and the rest attributable to brains.” What sets Bezos apart is his passion and drive.
Recently Amazon.com bought Zappos, the online shoe retailer for more than 900 million. Amazon unveiled the first e-reader, Kindle, which became an instant sensation. Amazon has been instrumental in the promotion of self-published books, helping many fulfill a dream. In 1999, Jeff Bezos was Time Magazine Man of the Year. He currently has a net worth of 22.1 billion, according to Bloomberg Billionaires Index.
If you would like to see an amazing video of how an Amazon.com stores and processes orders, you will want to check out this site http://bit.ly/VqhEah. In the meantime, here is a picture of the inside of a warehouse. It’s truly mind-boggling.