Amazon's Development and Financial Milestones
By CSP Staff on Feb. 08, 2017Amazon’s chronology reflects the visionary audacity of its founder. It has shuttered competitors, expanded and contracted, and stubbed its own toes—all while turning retailing on its head.
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1995
- Amazon launched in 1995 as an online book seller based out of Jeff Bezos’ garage. Within the fırst month, it sells books to people in all 50 states and in 45 countries.
- Amazon builds an auction website to compete with eBay, which flops.
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1997
- In 1997, Amazon launched 1-Click, allowing customers to make a purchase with one mouse click.
- Amazon goes public in May and raises $54 million, at a valuation of $438 million. Shares are sold at $18 each.
- Amazon launches its second warehouse in November in New Castle, Del.
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1998
- In April 1998, Amazon’s board of directors approves a two-for-one stock split, giving investors one additional share for every share held. (The move is repeated July 1999.) Also in April, Amazon acquires IMDb (Internet Movie Database) for an undisclosed amount.
- That June, Amazon adds music as its fırst category expansion beyond books.
- In October, Amazon expands to Germany and the United Kingdom.
- Amazon acquires online booksellers Bookpages in the United Kingdom and Telebook in Germany, giving Amazon access to the European market.
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1998-2000
1999
- Amazon acquires web information company Alexa, which later becomes the name of the company’s voice-activated virtual assistant.
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2000
- Incorporates private-space research company Blue Origin to attempt to lower the cost of access to space.
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2001
- Amazon lays off 1,300 workers in an attempt to become profıtable. Also, Amazon closes its Seattle call center and a year-old distribution center in McDonough, Ga., and reduces operations at its Seattle warehouse.
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2003
- Amazon turns an annual profıt for the fırst time. The company makes a profıt of $35.3 million, compared with a loss of $149.1 million in 2002.
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2004
- Amazon expands to China in August.
- Amazon’s search engine A9.com starts a project called Block View, which it envisions as a visual Yellow Pages to pair street-level photographs of stores and restaurants with their listing on A9. Amazon cancels Block View in 2006. Google starts Street View in 2007.
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2005
- February launch of Amazon Prime, based on the idea that fast delivery should be an everyday experience rather than an occasional indulgence.
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2006
- Amazon launches its video on-demand service, then known as Amazon Unbox, on TiVo.
- Amazon Web Services, a tech infrastructure platform, is launched.
- Amazon purchases Shopbop, an online fashion retailer, in February for an undisclosed amount.
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2007
2008
2009
- Launch of Amazon Basics, which sells basic, commodity-level items at a lower price than that of many companies selling similar products directly on their site.
- Amazon acquires Zappos for $1.28 billion in stock.
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2010
- Amazon acquires Quidsi, the parent company of Diapers.com, for $554 million in cash and stock.
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2011
- In February, Amazon launches a Netflix-style streaming service as part of its Amazon Prime program.
- Launch of the Kindle Fire, Amazon’s tablet computer, in November.
- Amazon Lockers appear, allowing online customers to pick up purchases at third-party locations.
- Amazon posts lower quarterly profıts three times in a row. The company cites the 17 warehouses it opened in 2011 along with its expanding business. Investors are nervous.
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2013
- Amazon launches a marketplace in India.
- Launch of the Mayday button, which allows users to instantly access a live tech adviser through their devices, in September.
- In December, Bezos reveals the experimental initiative Amazon Prime Air meant to eventually deliver certain packages via drone. At the time of the announcement, Bezos claims Prime Air could become a reality in as little as four or fıve years.
- Jeff Bezos buys The Washington Post for $250 million.
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2014
- April launch of Fire TV.
- Amazon acquires Twitch, a social video platform for gamers, in August for $970 million in cash.
- November launch of the original Amazon Echo voice-enabled speaker.
- November launch of Fire Phone, which focuses on giving users shopping options.
- December launch of Prime Now in parts of Manhattan, which offers free two-hour delivery.
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2015
- Amazon announces construction of four wind farms.
- March 30 launch of Amazon Home Services, in which Amazon enters the “on-demand” service economy.
- March 31 launch of the Dash Button, a one-click, Wi-Fi-enabled one- to two-day-delivery device.
- Launch of Amazon Launchpad, which helps startups launch, market and distribute their products.
- Amazon produces and releases its fırst original feature fılm, Spike Lee’s “Chi-Raq.”
- November launch of Amazon’s fırst brick-and-mortar bookstore location in Seattle.
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2016
- Fiat Chrysler Automobiles announces in November it has teamed up with Amazon to sell cars online in Italy.
- Amazon announces in early December that its brick-and-mortar grocery/convenience-store concept, Amazon Go, is in test.
- Expands Amazon Flex, which allows drivers to sign up to deliver packages using their own cars.
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