Jeff Bezos , byname of Jeffrey Preston Bezos, (born January 12, 1964, Albuquerque, New Mexico, U.S.), American entrepreneur who played a vital role within the increase of e-commerce because founder and chief executive officer of Amazon.com, Inc., a web-based merchant of books and then of a wide variety of products. Under his guidance, Amazon had become the largest retailer for the World Wide Web along with the model for Internet sales.
Early Life And Career
While still in high school graduation, Bezos developed the Dream Institute, a centre that promoted creative thinking in young students. After graduating (1986) summa cum laude from Princeton University with degrees in electrical engineering and computer science, he undertook some jobs before joining the New York investment bank D.E. Shaw & Co. in 1990. Soon named senior vice president—the firm’s youngest—Bezos what food was in control of examining it likelihood of the Internet. Its enormous potential—Web usage was growing by greater than 2,000 percent a year—sparked his entrepreneurial imagination. In 1994 he quit D.E. Shaw and transferred to Seattle, Washington, to spread out a virtual bookstore. Working out of his garage using a handful of employees, Bezos began developing the program for the site. Named following the South American river, Amazon sold its first book in July 1995.
Jeff Bezos, 2005.
Amazon quickly became the leader in e-commerce. Open round the clock, the website was user-friendly, encouraging browsers to create their unique reviews of books and offering discounts, personalized recommendations, and searches for out-of-print books. In June 1998 it began selling CDs, and later on that year it added videos. In 1999 Bezos added auctions to the web page and purchased other virtual stores. The success of Amazon encouraged other retailers, including major book chains, to create websites.
jeff bezos featured about the cover of Time magazine as its “Person of the Year,” 1999.
As more companies battled for Internet dollars, Bezos saw the call to diversify, by 2005 Amazon offered a massive assortment of products, including consumer electronics, apparel, and hardware. Amazon diversified further in 2006 by introducing Amazon Web Services (AWS), a cloud-computing service that eventually took over as largest such service inside world. In late 2007 Amazon released a brand new handheld reading device called the Kindle, a digital book reader with wireless Internet connectivity, enabling customers to buy, download, read, and store a vast selection of books when needed. Amazon announced really that sales of Kindle books had surpassed that relating to hardcover books. That same year Amazon moved into making its very own shows and films with its Amazon Studios division. Amazon’s yearly net sales increased from $510,000 in 1995 to some $600 million in 1998 and from a lot more than $19.1 billion in 2008 to almost $233 billion in 2018.