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| Success Story Of Amazon: Journey Of Jeff Bezos |
Amazon’s owner Jeff Bezos would hardly have thought that one day he would become the world’s richest man.
In the success story of Amazon, there have been many ups and downs which is definitely what you should know.
“I had decided to do something in one go. I did not think I would regret trying and failing. If I did not do this, I would have been troubled by the thoughts of not trying even once.”
This speech was given by Jeff Bezos in 2010 at Princeton University, wherein in 1986 he has done Electrical Engineering and Computer Science. These lines by Jeff Bezos are enough to motivate someone.
Success Story Of Amazon From July 1994 Onwards:
About life before starting Amazon, Jeff Bezos tells that the absorption of the Internet was growing at a very fast rate, which brought the idea of starting an online book store in his mind. And from then the success story of amazon had started.
Jeff Bezos also worked in many big companies before starting Amazon. While working at Bankers Trust Company of America from April 1988 to December 1990, he later worked as Vice President in that company.
From December 1990 to June 1994 he also worked in an investment company D.E.Shaw & Company. In June 1994 he resigned from D.E.Shaw and started amazon in July 1994.
In his speech, Jeff Bezos further states that “I wanted to quit my job and wanted to do something different in my life. So my wife wanted me to fulfill my dream.”
Once, Bezos told about his idea to his boss. His boss gave this kind of response, “the idea is good but it is for those who have no work.”
Bezos recounts this and says, “I thought about it a lot and after much thought, I decided that I should fulfill my dream. I did not want to regret that I did not try, but if I did not try, I would have regretted it. So I am proud of my decision.”
Bezos started selling old books in 1994 after starting from a garage. Later in 1995, a website was launched. In the first year, the company suffered a loss of more than Rs 16 lakh.
According to an Amazon report, by the end of 1997, Amazon had more than 1.5 million customers in more than 150 countries. The company was at loss for its first few years. Later, the company started making profits year after year.
Amazon Success Journey:
Year Revenue Profit/Loss
1995 Rupee 1.64 Crores Rupee -0.96 Crores
2000 Rupee 11,868 Crores Rupee -3,698 Crores
2005 Rupee 37,356 Crores Rupee 1,584 Crores
2010 Rupee 1,57,320 Crores Rupee 5,290 Crores
2015 Rupee 6,84,800 Crores Rupee 3,814 Crores
2019 Rupee 19,63,640 Crores Rupee 81,060 Crores
Source: Amazon Annual Reports
Amazon Market Cap:
Jeff Bezos started Amazon on July 5, 1994, from Father’s Garage. Within three years of its launch, the company’s market cap had reached $ 1 billion (Rs. 3600 crores). The company has set a 14-year journey to reach $ 100 billion (Rs 4.70 lakh crore). But after that, the company’s market cap increased.
Amazon achieved a market cap of $ 1 trillion (Rs 68 lakh crore) for the first time in September 2018. Currently, the company’s market cap is $ 1.7 trillion (Rs 125.80 lakh crore).
July 1994 Amazon started
October 2009 2.40 Lakh Crore
July 2011 4.70 Lakh Crore
July 2017 32.50 Lakh Crore
September 2018 68.00 Lakh Crore
August 2020 125.80 Lakh Crore
Source: Media reports
Jeff Bezos’s name first came on Forbes’ list in 1999. By that time Bezos was the 19th richest person with a net worth of $ 10.1 billion (Rs 43 thousand crores). Today, according to real-time data from Forbes, the Networth of Bezos is $ 205 billion (Rs 15.17 lakh crore).
During the journey of the success story of Amazon, Jeff Bezos also owns other big companies besides Amazon. Among them, an aerospace firm named Blue Origin was established in 2004. One of the largest newspapers in America, Washington Post was also bought by Bezos in 2013.
Bezos keeps more than 7.50 crore shares in Amazon. That is, they have 15.1% shares in Amazon.
Conclusion:
Friends, we get to learn a lot from the success story of Jeff Bezos. First and foremost is that we should not lose courage at all. We should keep moving forward.
In the early days of Amazon, Jeff Bezos also suffered a lot of losses. If he would take his step back and shut down the company after seeing that loss, then today there would not be an Amazon in service of us, and with the help of this, we can easily buy many products sitting at home.
Amazon’s Success Story Motivates Us And Also Tells The Way Forward.
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