Company Overview Visit amazon.com website
The Amazon company is a multinational e-commerce corporation. Headquartered in Seattle, Washington, United States, the company was founded by Jeff Bezos on July 5th 1994.
The primary source of revenue for Amazon is through sales of products and services related to its main website. The name "Amazon" comes from the Amazon River which is one of the biggest rivers in the world. The global marketplace has several marketplaces for different countries based on their location or region stemming from 'a' meaning 'from' - 'A' + 'zon' meaning 'earth'.
Amazon's headquarter are located near downtown Seattle in the South Lake Union neighborhood which used to be full of car dealerships but has since become a part of an urban renewal project to create a neighborhood for high-tech employment, medical clinics and residential housing. The company also has another headquarter located in New York City named Amazon Web Services which is the largest provider of cloud-computing services.
The Amazon website was launched on July 5th 1994, by Jeff Bezos. Originally called "Cadabra" - meaning to spell - it later changed its name to Amazon after looking through the dictionary for words beginning with "A". He chose this name because of the large volume of products sold on the site due to its diverse range of items available compared to other general stores at that time.
In 1996, Walmart started selling books online and failed but then launched a separate website that became a new competitor to Amazon called "Walmart.com". Bezos praised the site for matching lower prices than Amazon, but also stating that customers would have to wait two days for their products delivered due to its focus on the company's bigger items rather than books.
The first international version of Amazon was launched in July 1999 by DigiCube in Japan. A few months later, it expanded into more countries across Europe and Asia Pacific regions - though not Canada until 2002. In November 2009, some parts of these markets were split off due to ongoing disputes over tax policies with some European governments which led to Amazon limiting access to certain products being sold on the website or closing accounts containing those items where they are detected.
In 2014, Amazon surpassed Walmart as the most valuable retailer in the United States by market capitalization. Walmart remained the second most valuable retailer while EBay was third, followed by Amazon then Kroger in fourth place.