BUSINESS
10 interesting facts about Amazon.com and new opportunities for Georgian manufacturers
22 January, 2018
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.
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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.

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