12 Insane Facts About @amazon! #company #facts #amazon #amazonprime #jeffbezos #amazongadgets

Here are 12 insane facts about Amazon:

Started in a Garage: Amazon was started by Jeff Bezos in 1994 out of his garage in Bellevue, Washington. He initially sold books online because of their low cost and universal demand.

Originally Called "Cadabra": Jeff Bezos initially called his company "Cadabra," as in "abracadabra." He later changed it to Amazon after someone misheard the name as "cadaver." He chose Amazon to represent something large and exotic, much like the river.

A Giant in Web Services: Amazon Web Services (AWS) is a massive part of Amazon's business, generating more than half of the company's operating income, and is one of the largest cloud computing services in the world.

No Profit for Years: Despite its massive growth, Amazon didn't turn a profit for its first six years as a public company. It prioritized rapid expansion and customer acquisition over profitability, which paid off massively over time.

First Drone Delivery: In December 2016, Amazon completed its first commercial drone delivery in the UK, delivering a package just 13 minutes after the order was placed.

Largest Private Employer in the U.S.: Amazon is one of the largest private employers in the U.S., with over 1.5 million employees worldwide, and its workforce expands dramatically during peak holiday seasons.

Amazon Prime’s Enormous Reach: Amazon Prime, the company's subscription service, has more than 200 million members worldwide, and Prime members typically spend more than double what non-members do on Amazon.

Patent for One-Click Purchase: Amazon patented the "1-Click" purchase method in 1999, which simplified online shopping significantly. This patent gave them a competitive advantage until it expired in 2017.

Cashless Amazon Go Stores: Amazon has developed cashier-less stores called Amazon Go, which use cameras, sensors, and AI technology to automatically detect what items customers pick up and charge their accounts when they leave the store—no lines or checkout required.

Amazon's Dominance in E-Commerce: In the U.S., Amazon accounts for roughly 40% of all online retail sales. That means nearly half of every dollar spent online is spent through Amazon.

Acquisition of Whole Foods: In 2017, Amazon acquired Whole Foods Market for $13.7 billion, marking a significant entry into the grocery market and an expansion of their physical retail presence.

Amazon's "Day 1" Philosophy: Jeff Bezos has a “Day 1” philosophy, emphasizing that the company should always operate as if it’s in its first day of business. This mindset drives innovation, experimentation, and a focus on long-term thinking over short-term profits.