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While Amazon. com famously began as a bookseller, Bezos contended from its start that the website was not merely a merchant of consumer items. He argued that Amazon. com was a innovation business whose company was simplifying online transactions for customers. The Amazon. com business strategy was typically fulfilled with skepticism.

bomb. Skeptics claimed Amazon. com ultimately would lose in the market to established bookselling chains, such as Borders and Barnes & Noble, when they had actually introduced competing e-commerce websites. The lack of business profits until the last quarter of 2001 appeared to justify its critics. Nevertheless, Bezos dismissed cynics as not understanding the enormous growth potential of the Internet.

In reality, Amazon. com did grow fast, reaching 180,000 client accounts by December 1996, after its first complete year in operation, and less than a year later, in October 1997, it had 1,000,000 client accounts. Its profits leapt from $15. 7 million in 1996 to $148 million in 1997, followed by $610 million in 1998.

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com's success moved its founder to end up being magazine's 1999 Individual of the Year. The business expanded quickly in other locations. Its Associates program, where other Website might offer product for sale and Amazon. com would fill the order and pay a commission, grew from one such site in 1996 to more than 350,000 by 1999.

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Music and video sales began in 1998. That same year it began worldwide operations with the acquisition of online booksellers in the United Kingdom and Germany. By 1999 the company was also selling consumer electronics, video games, software application, home-improvement items, toys and video games, and much more. To sustain that development, Amazon.

As an outcome, in May 1997, less than 2 years after opening its virtual doors to customers and without ever having actually made a profit, Amazon. com became a public business, raising $54 million on the NASDAQ market. In Found Here to the cash, the business was able to utilize its high-flying stock to fund its aggressive growth and acquisition strategy.

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com's service that got it client commitment and ultimate success. Its personalization tools advised other items to buy on the basis of both a consumer's getting history and information from buyers of the very same items. Its publishing of customer evaluations of items fostered a "community of consumers" who assisted each other find everything from the right book to the best mixer.