Amazon

On July 5, 1994, Jeff Bezos incorporated a company in Bellevue, Washington, originally calling it Cadabra, Inc. before renaming it Amazon a year later. Bezos launched the business from his garage as an online bookstore, betting that the internet would reshape retail. That bet paid off. Today, Amazon is the world's largest online retailer and a dominant force in cloud computing, digital streaming, and artificial intelligence.

The company's reach is staggering. Amazon Web Services, the cloud computing arm, generated $20 billion in revenue in the final quarter of 2024 alone, up from $10.6 billion a year earlier. Amazon Prime, with over 200 million subscribers, locks in loyalty through fast shipping, video streaming, and exclusive deals. The company also owns Whole Foods Market (acquired for $13.4 billion in 2017), Audible, Twitch, IMDb, Ring, and the MGM film library. In 2022, Amazon MGM Studios added that library to its content portfolio.

Amazon reported $638 billion in net sales for fiscal year 2024, an 11% increase from 2023, with net income of $59.2 billion. It employs over 1.5 million people worldwide. The company has faced criticism over labor practices, antitrust concerns, and environmental impact, but its hybrid strategy of cost leadership and differentiation has proved hard to match. Over 89% of US buyers prefer purchasing from Amazon over other e-commerce sites, according to one survey. [edit]