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While Amazon. com famously started as a bookseller, Bezos contended from its start that the website was not merely a seller of consumer products. He argued that Amazon. com was a technology company whose organization was streamlining online deals for consumers. The Amazon. com business strategy was typically met skepticism.

bomb. Skeptics declared Amazon. com eventually would lose in the market to recognized bookselling chains, such as Borders and Barnes & Noble, when they had introduced competing e-commerce sites. The Latest Info Found Here of business profits up until the final quarter of 2001 appeared to justify its critics. Nevertheless, Bezos dismissed cynics as not understanding the huge development capacity of the Web.

In reality, Amazon. com did grow quickly, reaching 180,000 customer 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 earnings 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 become magazine's 1999 Person of the Year. The company expanded quickly in other areas. Its Associates program, where other Web sites might use merchandise for sale and Amazon. com would fill the order and pay a commission, grew from one such website in 1996 to more than 350,000 by 1999.

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

As a result, in May 1997, less than two years after opening its virtual doors to consumers and without ever having actually made a revenue, Amazon. com became a public company, raising $54 million on the NASDAQ market. In addition to the money, the business had the ability to utilize its high-flying stock to money its aggressive development and acquisition method.

Amazon now employs almost 1 million people in the U.S— or 1 in every 169 workers

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com's service that got it customer loyalty and supreme success. Its customization tools recommended other products to purchase on the basis of both a consumer's getting history and information from purchasers of the exact same items. Its publishing of consumer evaluations of items fostered a "neighborhood of consumers" who assisted each other discover whatever from the ideal book to the very best mixer.