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If you invested $1,000 into #Amazon stock at IPO in 1997, and cashed out when #JeffBezos left his CEO role in 2021, how much would you have earned?
$2.34 milllion.
So how did an online bookstore turn into a global superpower the size of South Korea's entire economy?
A 🧵/9
In 1993, while working for a hedge fund on Wall Street, Jeff Bezos read that the internet was growing at 2,300% per year. He wanted to get into the game, so in the words of Jeff he made:
"a list of like 20 different products that you might be able to sell"
2/9
...& ended up picking books📚 as:
"there were more items in the book category than in any other category ... so you could build universal selection. [In 1994 there were] 3 million books active in print at any given time. The largest physical bookstores only had ~150,000 titles."
In 1994, Amazon launched as the 1st online bookstore with success being instant to the shock of Jeff:
"We had 10 people in the company and most were software engineers. So [we] were all packing boxes. We were on our hands & knees on the concrete floor, packing the boxes."
4/9
As the company kept growing & growing, it IPO'd in 1997 at $18 a share and a market cap value of $438 million.
And from then on more success would follow through launches and acquisitions...
5/9
1998: Amazon expanded into Music & Videos, and acquired IMDB 🎥
1999: Video games, consumer electronics, games and other categories went live 🎧
2002: Launch of Amazon Web Services (AWS) 🌐
2005: Amazon Prime is launched, followed by Kindle in 2006 🚀
6/9
2006: Amazon FBA is launched 📦
2008: Audible is acquired 🎧
2014: Twitch is acquired 🎮
2017: Whole Foods is acquired 🛒
2018: $1 Trillion market cap is reached 🗻
7/9
...and then in July 2021, Jeff Bezos stepped down as CEO moving to become executive chair of the board.
Since then, Amazon share price has fallen by nearly 40%! 📉
8/9
Enjoyed the thread🧵?
✉️ Why not sign up to our newsletter on theamazonian.co where you can learn how to improve your Amazon experience for free! ✉️
9/9