10 interesting facts about Amazon.com and new opportunities for Georgian manufacturers
22 January, 2018
10 interesting facts about Amazon.com and new opportunities for Georgian manufacturers
Amazon.com is considered one of the starting places of e-commerce. Nowadays, online commerce is gradually taking place of the traditional one and this happens due to several advantages it has. The main one is a much lower fixed cost. It is convenient, practical and less time-consuming. Worldwide, by the year 2017, 1.71 billion people have benefited from online trading and according to the World Financial Data of the year, the annual average amounts to $ 2.3 trillion. According to the
statistical calculations and estimates, by 2020 this figure will reach 4.06 trillion US dollars.

We offer you 10 interesting facts about Amazon.com, which is the leader in the electronic trade not only in the US but worldwide.

1. The internet store Amazon.com was created on July 5, 1994. Part of the society was quite skeptical, but the company's growth rate turned out to be pretty fast. In 1999 Amazon was considered the most interesting and wealthy company, while the founder Jeff Bezos was named the Person of the Year by the TIME magazine. Since then the company has never stopped.

2. In 1994, Jeff Bezos abandoned his job unexpectedly, moved from New York to Fort Worth along with his wife, and then on to left for Balvue, to build Amazon.com. The first address of the internet store was Bezos’ garage, and the capital - $300 000 check from his father.

3. Jeff Bezos initially wanted to name his company Cadabra, which would be a short version of Abracadabra. However, finally he chose Amazon and it was for 2 reasons. The first is that the Amazon river is the largest on earth by basin and discharge volume of water, as well as the second longest in the world. On the other hand, the name begins on the first letter of the alphabet, and the founder made sure that his company would be named the first by alphabetical order.

4. Amazon.com, founded inside Jeff Bezos’ garage, is the world's leading e-commerce company today, with over 20,000 employees and $20 billion annual turnover, internet stores in the US, Canada, Japan, China and several European countries, with outstanding service and diversification of products. In total trade volume, it consumes about one-third of the world goods. The company took the leading positions on the stock exchange and entered into the history of the four companies in the history of which the price of shares crossed $ 1,000 on the American stock exchange. According to today's data, the price of 1 share is 1162 USD.
geotv.ge
5. Amazon's founder Jeff Bezos is also the richest person on earth, with 111.2 billion US dollars, according to the "Forbes" magazine. The economists also predict that he will be the first trillionnaire on earth.

6. With Amazon's new program - Amazon FBA, any individual and/or small entrepreneur can buy or manufacture products and sell it on Amazon, thus earning income in American currency. In Georgia, the Amazon export hub was created, which helps consumers sell products on Amazon. The company offers Georgian citizens entire training program that will take place in the University of Business and Technology. Levan Molashvili is the first Georgian who accumulated experience in Ukraine and Germany and now he is ready to share his knowledge with anyone.

7. The first item from the billionaire garage - the book was sold in 1995 and it was Fluid Concepts & Creative Analogies.

8. On the Amazon logo, the arrow is directed from a to z, which means that anything can be bought on Amazon.com

9. All employees of Amazon, including Jeff Bezos, work every two days in a 2-day customer service table.

10. Amazon created the first electronic book reader Amazon Kindle, which significantly changed the reading of the book and increased the number of amateur readers. The first generation Kindle was released on November 19, 2007 and was sold for $ 399.

Related stories:

First Georgian who started business on Amazon


Foreign trade turnover in Georgia increased by 13.8 percent

Print
Other Stories
Galt and Taggart - Tourism Boom Continues in Georgia
Tourism has become one of the key drivers for the Georgian economy. Galt and Taggart has recently published research about the Georgian tourism sector in the first half of 2018.
"The worst dream for Putin is that Russians want to live in Georgia"
This year, visitors to the Adjara region would notice that there is a boom in construction in and around Batumi.
Underground gas storage facility to be built in Georgia
KfW, a German government-owned development bank signed a EUR 150 million promotional loan with the state-owned Georgian Oil and Gas Corporation (GOGC) for the construction of the first underground gas storage facility in Georgia.
New gambling rules for Georgia
Georgian lawmakers are preparing a new draft law relating to online-casinos and gambling that will seek to curb gambling addiction in Georgia.
How expensive is it to visit Georgia?
The Georgian Lari (GEL) is the official currency of Georgia and is the only legal means of payment in the entire territory of Georgia.
Trade with the EU and the Commonwealth of Independent States (CIS) has grown significantly
Trade with the EU and the CIS has grown by 26% and 33.5 % respectively, says GeoStat, the Georgian National Statistics Office.
The unemployment rate decreases in Georgia
The unemployment rate decreased in Georgia by 1,9% and amounted to 12.1% in the 2nd quarter of 2018 compared with the previous quarter,
Memorandum of Understanding to be signed between Georgia and Malaysia
According to the Georgian Ambassador to Malaysia Nikoloz Apkhazava, Georgia plans to sign a Memorandum of Understanding (MoU) with Malaysia.
“Blauenstein Georgia” due to expand in Georgia
“Blauenstein Georgia” is planning to open more shops in Georgia. It is an agriculture company that sells meat products, meat and convenience food.
The amount of Direct Foreign Investment rises in Georgia
According to the information of the National Statistics Office of Georgia, the amount of direct foreign investment in Georgia has risen
It’s going to get  harder for foreigners to get residence permit in Georgia
It’s going to get harder for foreigners to get permit of residence in Georgia.
Mziuri Park in Tbilisi to be renovated soon
It was the dream of prominent Georgian writer Nodar Dumbadze that when the original Mziuri park was constructed and opened in 1892 that it should be a park for children,
Winemakers to produce Kvanchkara in its place of origin - Racha
Khvanchakara is a semi-sweet Georgian red wine which originates from Racha, in the western part of Georgia. Kvanchkara is made of two types of grape Mujuretuli and Aleksandrouli.
The level of Georgian wine and Chacha exported has increased
The National Wine Agency of Georgia has recently published statistical information about the level of Georgian wine and Chacha exported between January and July, 2018.
New fire engines to be Manufactured in Georgia
The Acting Head of the Emergency Management Agency Shalva Khutsishvili said that the old Zili fire engines (which were made in the USSR) will be phased out and replaced with new ones, manufactured in Georgia.
Georgia witnesses a record number of tourists
The Georgian National Tourism Administration publishes statistical information about international visits to Georgia.
Canadian businessman plans to build a hotel in Bakhmaro
Canadian businessman Vadim Malishev plans to build a hotel in Bakhmaro resort, Guria, in the western part of Georgia.
Coffee Factory will open in Tbilisi in October
The first coffee factory (which will be located on the Kakheti highway) in Tbilisi will open in October.
Places in Georgia where real estate is the most expensive
The real estate market in Georgia is growing annually. In Tbilisi as well as other regions of Georgia new developments are increasingly taking place.
How much does a vacation cost in Tbilisi?
It is the middle of summer and those who have not yet taken a vacation are looking for an appropriate place for sure!
The price for extreme sports in Georgia
Georgia offers a variety of options to extreme sport lovers.
The number of Georgians who own property abroad increases
The number of foreign properties owned by Georgians is increasing.
How much does Taxi cost in Tbilisi?
Stories how Taxi drivers try to deceive passengers and charge them with more money than they should pay are known for everybody all over the world.
What are the highest paid areas in Georgia
According to the data collected by the National Statistics Office of Georgia in the first quarter of 2018 the highest paid jobs in Georgia are found in the financial and insurance fields.
The procedures for exportating Georgian wine to Japan will be simplified
According to the National Wine Agency (the NWA), 4 Georgian laboratories have been added to the list of foreign laboratories registered in Japan, which will significantly simplify Georgian wine import procedures in Japan.
PHOTO OF THE DAY
Exchange Rates
GEL Exchange Rate
Convertor
21.09.2018
22.09.2018
USD
1
USD
2.6193
2.6216
EUR
1
EUR
3.0693
3.0854
GBP
1
GBP
3.4651
3.4584
RUB
100
RUB
3.9538
3.9340
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.6216
EUR
1
EUR
3.0854
GBP
1
GBP
3.4584
RUB
100
RUB
3.9340