itech.docx – Industry Background- Amazon.com Inc. is an American multinational technology company based in Seattle Washington that focuses on | Course Hero

Industry Background-

Amazon.com, Inc. is an American multinational technology company based in Seattle,

Washington that focuses on e-commerce, cloud computing, digital streaming and artificial

intelligence. It is considered as one of the Big Four technology companies along with Google,

Apple and Facebook.

In 2002, the corporation started

Amazon Web Services

(AWS), which provided data on Web

site popularity, Internet traffic patterns and other statistics for the developers. In 2006, the

organization grew its AWS portfolio when

Elastic Compute Cloud

(EC2), which rents

computer processing power as well as

Simple Storage Service

(S3), that rents data storage via

the Internet, were made available to its consumers. That same year, the company started

Fulfillment by Amazon which allowed individuals and small companies to sell their

belongings through Amazon’s website. Using this strategy, Amazon did not need to hold any

inventory of the products and hence managed their maintenance cost. In 2012, Amazon

bought

Kiva Systems

to automate its inventory-management business, purchasing

Whole

Foods Market

supermarket chain five years later in 2017.

Amazon.com has a number of products and services available for all kinds of people and all

interests as well, including:

Amazon Fresh

,

Amazon Prime

,

Amazon Web Services

,

Alexa

and many more.

History-

Amazon is a fortune 500 e-commerce company based in urban centre, Washington. It’s has

achieved the excellence of being one among the primary massive corporations to sell

products via online shopping. In 1994, Jeff Bezos founded the Amazon and launched the

business following year. If you’re of a selected age, you have possibly known that Amazon

started off as an internet bookshop but later introduced a variety of products from DVDs,

music, video games to electronics and clothing. Now, Amazon has the World’s Biggest

Selection.

In 1999, just after 5 years when Amazon began, Jeff Bezos was named Time magazine’s

Person of the year which was quite an achievement.

In 2015, Amazon surpassed

Walmart

as

the most valuable retailer in the United States by

market capitalization

.

In 2017, Amazon

acquired

Whole Foods Market

for $13.4 billion, which vastly increased Amazon’s presence as

a brick-and-mortar retailer. In 2018, the Bezos announced that its two-day delivery service,

Amazon Prime

, had surpassed 100 million subscribers worldwide.

Current environment-

Today Amazon is the titan of e-commerce, logistics, payments, hardware, information

storage, and media. It’s the go-to web site for internet buyers and merchants alike, a

contemporary necessity that freelance sellers like to hate. The key to Amazon’s large success

in e-commerce is its endlessly complicated supplying empire that has expanded a lot in recent