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- 1. Jeff Bezos and Amazon.com Emilee Finkelstein
- 4. History • The dot-com bubble in the early 1990s saw the rise of the internet and internet businesses. • In 1994, Jeff Bezos began amazon.com, an online book seller, which he hoped some day would be able to compete with brick-and-mortar bookstores by offering more than the conventional 200,000 titles.
- 5. Jeff Bezos founded Amazon.com in 1994 after making a cross country drive from New York to Seattle, writing up the Amazon business plan on the way and setting up the original company in his garage.
- 6. Amazon’s Business Plan Amazon.com’s business plan was considered unusual for an internet company; their philosophy was not to expect a profit for four or five years. And, while other internet companies grew at a rapid speed and crashed after a few years, because of Amazon’s slow and steady growth, they were able to weather the boom-and-bust cycle of internet businesses.
- 7. The Growth of Amazon • After the first four years of making no money, Amazon.com began to expand. • They began to sell products other than books, such as music, electronics and household goods. • Amazon also incorporated features that allowed people to open small stores on the website, which expanded their product base exponentially.
- 8. Amazon.com Today • Today, Amazon.com continues to thrive. With the introduction of the Kindle, Amazon’s profits surged a shocking 69% in 2009, making it one of the only companies to survive the economic crisis (fairly) unscathed.