The development of technology, of course, gives ease in doing everything, including in buying and selling transactions. Now to buy goods or services you do not need to search out the house simply by using the internet alone can buy goods or services you want. Lots of online stores that already exist, one of which is Amazon. This site is one of the largest online store in the world that formed in 1994 and has successfully mastered the online market in the world. The network has spread widely in various countries to the whole world. Even every day online store is very busy and never stop trading in terms of sales.
History and Development
The company was founded in 1994 by Jeff Bozes and began publication for the public one year later in 1995. Bozes initially worked at De Shaw & CO decided to create his own company. At first the name of the online store company is ‘Cadabra’ and first release date July 5, 1994. After rethinking then in 1995 his name changed. This name change is because the original name sounds very horrible and sells less. With renaming to amazon.com feels more special and certainly will be easy to find because with A prefix it will be in the top list itself. In addition, he also wants the company he built to be big like the longest and exotic rivers that exist in America.
Initial development of the company
The online store company based in Seattle, Washington, United States was built based on a very in-depth analysis. Bozes see enormous opportunities with the development of the Internet world that will occur in the future. And proven now his company is very rapidly growing. Initially, Bozes specified there were 20 lists of names of goods to be marketed but then narrowed to 5 which will be marketed and considered very profitable. The five products are books, computer software, video, computer hardware, and compact disc. Of these five lists Bozes finally decided to sell books online at first. At the beginning of sales on amazon.com this book is experiencing a rapid development because when it is open demand very much.
Initial investors and developments
The beginning of this Amazon development, many investors are buying stock here. But unfortunately, the first four years of Amazon’s growth are rated so slowly that many investors complain and sell their shares. In fact, at the beginning of the 21st century many online stores are closed and one that is almost affected is the Bozes company. But fortunately, the company is still safe and can grow again. After the crisis at the beginning of the 21st century, the company has risen and generated many promising benefits. In fact, the company claims that it is he who popularized for the community to shop online.
During the build company, this online store Bozes certainly not free from problems encountered. A lot of problems experienced by amazon during its development until now. The most prominent problem was the Bozes type prosecuted by Walmart in 1998. Walmart sued that Bozes had stolen trade secrets for employing employees from Walmart. However, this demand does not reach the court and can be resolved by peaceful means outside the court.