July 2024 marks the 30th anniversary since the founding of Amazon, which was launched on July 5, 1994.
The company was originally an online marketplace for books, but quickly grew into one of the world’s largest companies, now valued at $2 trillion.
According to Dana Mattioli, a reporter covering Amazon for The Wall Street Journal, Amazon founder Jeff Bezos got involved after researching the potential of online retail for a hedge fund firm.
“Online shopping definitely would have been something that revolutionized all of our lives,” Mattioli said. “But where Bezos really made a mark was convincing Wall Street that we don’t have to show profits and creating this culture where Amazon has been able to dominate, not just online shopping, where 40% of all shopping online happens in the U.S. is on Amazon, but also it’s spread its tentacles.”
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