Jeff Bezos - Founder of Amazon

Born in Jeff Bezos 1965 in New Mexico, USA, He is a private son and in 1968 his mother took him, at the age of three, and married Mike Bezos, a Cuban immigrant. Bezos followed his mother into the family and took his stepfather's surname. Bassos was fortunate that although he was not Mike's biological son, they bonded better than many biological fathers and sons. Jeff was the eldest son in the family and he had a younger brother and sister, and the family was happy together.

In 1986, this brilliant young man earned a double bachelor's degree in electrical engineering and computer science from Princeton University, one of America's leading universities, and soon joined a start-up high-tech company in New York. Two years later, Bezos jumped to a New York bankers' trust company to manage computer systems worth $250 billion in assets. Another two years later, he became the youngest ever vice president of the bankers' trust company, at the age of just 25.

In 1990, seeing the future of hedge funds, he joined the Wall Street boom, working for a leading brokerage firm and succeeding in building a large and cleverly run hedge fund for the firm, becoming its youngest senior vice-president in 1992. Here, he worked for four years, a little longer than ever before.

The early 90s were the hottest time for hedge funds. Back then, it was a financial speculation industry that was extremely risky and extremely rewarding.
And the staff were earning astronomical amounts, but at a time when everyone envied Bezos for his foresight and high salary, in 1994, to everyone's surprise, Bezos quit again.

This was because he was targeting a newer, more promising industry, that of information technology, the Internet! At that time, Microsoft in Seattle had grown up, and Bezos, who had long been tired of his financial career on Wall Street, wanted to be like Microsoft, to succeed in the IT industry and to be the tide of the Internet wave!
Changing traditions and creating myths
In 1994, with a start-up capital of US$300,000, Bezos created AMAZON.COM, the nation's first online retail company, in the garage of his rented house in the suburbs of Seattle.

From the start, Bezos, who had spent many years working for Wall Street investment firms, demonstrated an exceptional ability to raise capital and manage finances. In July 1995, Amazon opened the doors to its "virtual commerce".

From the outset, Amazon faced many challenges, the strongest of which was competition from the traditional giant Barnes & Noble. In another way, it was a battle between tradition and modernity.

Bezos is a genuine innovator on the internet. Amazon currently has 30,000 commissioning agencies which, on their respective websites, work on recommendations for books launched by Amazon.

At the same time, Bezos has helped define an internet community centered on the shopping site. This community, whose editorial content is updated daily, also offers "reader book reviews" and "continuation novels", the first to adopt this approach on the web, and these two small innovations alone have added at least 400,000 customers to Amazon. These two small innovations alone have added at least 400,000 customers to Amazon.

Speed is also evident in the renewal of stock. Amazon has almost no stock, except for 200 copies of the best-selling titles. But even with this stock, the frequency with which Amazon updates is astonishing. One figure shows that Amazon replaces its stock as many as 150 times a year. This figure shows not only Amazon's speed, but also its sales.
But Bezos has to keep expanding rapidly; his business is no longer limited to books, he wants to build one of the largest online shopping centers.

In the process, Amazon had completed its transformation from a purely online bookstore to an online retailer, and behind this set of figures one sees constant expansion, expansion, and during this phase Amazon's stock price rose more than 50 times in total, with the company's market capitalization peaking at US$20 billion.

In July 1995, Amazon was just a small website, but by January 2000, the total market value of Amazon had reached US$21 billion, eight times that of its old rival Barnes & Noble. in less than five years, Amazon had created an online myth with an astonishing growth rate.

In 1999, when Jeff Bezos sat on the throne of Time magazine's Man of the Year that year, he was also one of the fourth young people ever to be honored, at the age of just 36.
The secret of success is not making money, but having an extremely high market capitalization, a thought that this Amazon phenomenon brings to mind.

User Agreement | Privacy Policy

Copyright © 2024 All rights reserved.