When you think about online shopping, what is the first name that comes to your mind? Probably Amazon ━ One of the oldest eCommerce platforms. Have you ever wondered what if it was never found? We actually miss something revolutionary. All thanks to Jeff Bezos ━ the founder of Amazon. Look into Jeff Bezos success story to know every interesting fact about Amazon and its founder.
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Early life of Jeff Bezos
Jeff Bezos was a son of Jacklyn and Ted Jorgensen, born in Mexico Since his childhood, he has had an interest in computer science. After completing graduation, he got many offers from different companies, including Bell Labs and Intel. He rejected them all; after all, he was destined to kickstart the biggest eCommerce platform. By the age of 30, he started earning a six-figure salary. But as mentioned above, he was born to give birth to Amazon and kept resigning and joining the companies. One day he was surfing the internet; he found that the web world was growing at 2300% and decided to set up his own company. And thus begins the Jeff Bezos success story!
Success story of Jeff Bezos
Jeff was determined to accomplish his dream, and finally, he established his company Amazon through a constant quest to build up a qualified organisation. Before getting successful, Amazon saw its fair share of ups and downs, making an interesting Jeff Bezos success story.
The company was built on the pillar of Jeff Bezos’s concentration, dedication, and belief. In 1994, after quitting D.E Shaw, an investment firm, Jeff Bezos moved to Seattle to enter the online market. He set up the first-ever online book store where buyers and sellers worldwide can sell and purchase books. Jeff Bezos success story has not ended here, as he had the ambition to achieve heights.
He planned to include all the possible products that he could sell with the help of the internet, including software, CDs, and hardware.
At one time, books were the choice because of unavailability. He took advantage of the internet and started selling books online. Bezos preferred Seattle for his new business because of the tremendous pool of hi-tech talent. To manage his startup, he secured $ 1 million from his friends and family to start his business. He initiated his business in the garage of his home in Seattle. Jeff Bezos success story is not over yet.
The former name of Amazon was “Cadabra”; he considered changing it when his lawyer misheard the word as “Cadaver”. Later, Jeff registered the domain name Awake.com, Browse.com, Bookmall.com, and Relentless.com and lastly decided on Amazon, one of the planet’s longest rivers and the largest bookstore.
Slowly and gradually, Amazon expanded its business and started covering multiple products to sell. Many merchants from all over the world come to sell their products on Amazon and earn high profits. Today Amazon has become one of the biggest online B2B and B2C marketplaces. If we talk about Jeff Bezos success story, Amazon’s prominence is the best evidence of it.
Jeff Bezos’ vision behind Amazon
From the very beginning of Amazon, Jeff Bezos decided to create something revolutionary. In his dream, he involved people who were explorers and eager to do something new to the world. He had in mind that ━
- To approach something big and reach the heights.
- To build a platform to buy and sell various products and services.
- To know the customer’s emerging demand.
Like every success story of an established person such as Steve Jobs and Elon Musk, Jeff Bezos success story has also faced ups and downs. Amazon, before becoming a successful brand, fell and saw failures.
Failures in the path of Jeff Bezos’ Success?
It is believed that “Failure and mistakes are part of the business”. There are several ventures that Bezos initiated in which he failed, including-
- Fire Phone was one of the experiments by Jeff Bezos. It was a smartphone company that resulted in a loss of $170 million.
- Amazon Local was taken to provide a frequent deal which didn’t work well.
Amazon has other failures also, such as Amazon Wallet, Music Importer, Amazon Kindle, Amazon WebPay, and Askville. But failure is not a failure when you have dreams of achieving big.
Jeff Bezos success story has a lot to inspire. ‘A startup out of a garage becomes an eCommerce giant’ is nothing less. To establish an online company, Jeff Bezos came out of his comfort zone. He did not let his failures demotivate him, as a result, he built a multinational company with a market capitalisation of $1.15 trillion.