Amazon (company)
Amazon.com, Inc. is a global technology corporation headquartered in Seattle, Washington, that specialises in e-commerce, cloud computing, digital streaming, and artificial intelligence. With Google, Apple, Microsoft, and Facebook, it is considered to be one of the Big Five firms in the United States information technology sector. A number of publications have described the business as "one of the most powerful economic and cultural forces in the world," as well as the "most valuable brand in the world."
On July 5, 1994, Jeff Bezos launched Amazon from the garage of his home in Bellevue, Washington. It began as a book-selling website, but has now grown to include electronics, software, video games, clothing, furniture, cuisine, toys, and jewellery, among other things. As measured by market value, Amazon overtook Walmart to become the most valuable retailer in the United States in 2015. As part of its acquisition of Whole Foods Market for $13.4 billion in August 2017, Amazon significantly expanded its physical retail presence. Amazon Prime, the company's two-day delivery service, reached a milestone of 100 million members globally in 2018.
A hallmark of Amazon's business model is the disruption of well-established industries via technical innovation and large-scale distribution. In terms of sales and market capitalization, it is the world's biggest online marketplace, artificial intelligence assistant provider, live-streaming platform, and cloud computing platform, among other things. Amazon is the world's most profitable Internet business in terms of revenue. As the nation's second-largest private employer and one of the world's most valuable corporations, it ranks second on the Fortune 500 list. Amazon will have the highest global brand value by 2020, as per Brand Finance.
Amazon distributes a broad range of downloadable and streaming content via its subsidiaries, which include Amazon Prime Video, Amazon Music, Twitch, and Audible. Along with these businesses, Amazon also has a publishing division called Amazon Publishing, a film and television studio called Amazon Studios, and a cloud computing company called Amazon Web Services. It produces consumer electronics, such as Kindle e-readers, Fire tablets, Fire TV, and Echo devices, among other things. Zoox, Ring, Twitch, Whole Foods Market, and IMDb are just a few of the companies it has acquired throughout the years. Currently, Amazon is in the process of acquiring Metro-Goldwyn-Mayer, which is a film and television production company.
Over the years, Amazon has been accused for a variety of activities, including technical surveillance overreach, a hyper-competitive and demanding work environment as well as tax evasion and anti-competitive conduct.