Amazon was founded by Jeff Bezos in Bellevue Washington, on July 5, 1994. The company started as an online marketplace for books but expanded to sell electronics, software, video games, apparel, furniture, food, toys, and jewelry. In 1995, Jeff Bezos raised $8 Million of funding from Kleiner Perkins.
In 1997, Amazon goes public at 18$ per share. After that Amazon sales started increasing until Jeff Bezos was named in Time Magazine’s “Person of the Year” for popularizing online shopping. By that time Amazon was under-staffed, every employee had to take a graveyard shift in the fulfillment centers to meet orders. They would bring their friends and family and would often sleep in their cars before going to work the next day. After that, Amazon vowed that it would never have a shortage of labor to meet the demand for the holidays again, which is why Amazon hires so many seasonal workers today. Nowadays, Amazon acquires more than 40 companies, one of the most successful companies with Jeff Bezos net worth around $190 billion, the highest fortune Forbes has recorded in nearly four decades of tracking billionaires.