Jeff Bezos, the founder and CEO of Amazon, born on 12th Jan 1964, completed his education from Princeton University. Amazon was initially founded in Bezos garage in Bellevue Washington.
It was a brain child from his regret minimization framework, which mentioned his efforts to brush off the regrets of not being a part of the internet business boom after the www had picked up pace. Bezos, the now third richest man in the world founded the company as an online book business store after reading a report about the future of Internet which stated the analytical facts of the web commerce business projecting 2300% growth annually. After he resigned as the Vice-President of a Wall Street firm in 1994, he started amazon on the profit model, which reinvests any profit back into the business. Originally named as Cadabra, Bezos later selected the name Amazon by looking through the dictionary and settled on “Amazon” because it was a place that was “exotic and different” just as he envisioned for his Internet enterprise; the Amazon river, he noted was by far the “biggest” river in the world and he planned to make his store the biggest in the world. This was done after a year when a lawyer misheard its original name as Cadaver.
Image source : incomeplatform.com
He had also purchased a URL by the name rentless.com which in his friends opinion was a sinister name. Bezos still owns the URL which redirects to one of the largest e-commerce which accounts for more than half of every new dollar spent online in America. It is the world’s leading provider of cloud computing.
Moving ahead in the line of Technology, Bezos staying firm on his mindset where he mentions,
“There are two kinds of companies – those that work to raise prices and those that work to reduce them!”
Amazon takes pride in holding a major share in the second category. They ensure their model has a strong backbone of technology to drive the business with the latest being successful launch of the Drone Delivery mechanism.
Amazon says that their drones will be able to deliver packages within 30 mins by using drones that can fly up to 50 mph.
That’s AMAZON for you : A to Z
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