Tuesday, September 4th Amazon market valuation crossed the one trillion dollar mark, making it the second company to achieve that milestone. This development comes hot on the heels of Apple also recently hitting the mark.
It is interesting to note that just two decades ago, Amazon was nothing more than just a simple bookseller selling books online. Things started looking up for Jeff Bezos and team when they decided they can sell more than just book online and ventured into a full-blown online supermarket with all-you-can-buy under one click.
On that fateful Tuesday, Amazon shares experienced some early gains in the day, which rocketed the company’s valuation above the $1 trillion mark. Though it closed the day at $2,039.51 with a market valuation of $995 billion.
Apple becomes the second US firm to join this very exclusive trillion dollar club of companies. Bezos’ journey to making Amazon into the e-commerce giant it is today began by selling books in a garage and a small loan from his parents.
Bezos first incorporated the company in 1994 under the name ‘Cadabra’ but later renamed it to ‘Amazon.’
“Despite its size and scale, …read more