Reading Time: 6 minutes Stock Quote: Call it death by Jeff More than 25 years ago, the birth of one of the world’s largest online mega-shops, Amazon, heralded in a garage in the Seattle area at 10704 NE 28th Street in Bellevue, Washington. While, Amazon started as a small online bookstore, in the coming years, developed into an internationally …
More than 25 years ago, the birth of one of the world’s largest online mega-shops, Amazon, heralded in a garage in the Seattle area. While, Amazon started as a small online bookstore, in the coming years, developed into an internationally renowned online retailer with more than 300 million users worldwide.
Cadabra or Amazon 1994
After all, the idea for Amazon got born as early as 1994. The computer scientist Jeff Bezos, just 30 years old, decided to create a sales platform on the Internet. Hence, initially for books, as the margin was right and, moreover, they were easy to ship.
As a consequence, Bezos quit his job in New York on Wall Street. He set up his new “office” in a garage in Seattle for his newly founded online platform. While he initially called it Cadabra.com, he finally decided to name the company Amazon. This after a call to his lawyer who misheard it as “cadaver”.
After its successful start, Amazon was indeed able to maintain its successful course. About a year after the sale of the first book, the company achieved a turnover of around 16 million dollars. In 1997, following a successful IPO (lead by Frank Quattrone), the results increased to a total of almost 150 million dollars. Speaking about this, Amazon now had enough capital for further expansion. For example, Bezos began building the first international websites in 1998 and making the company accessible in more and more markets.