On Tuesday, Amazon became the second company (following Apple) from the United States to cross the $1,000,000,000 threshold in market valuation. Amazon started the year with a market evaluation of just $580 billion, making its growth to $1 trillion a remarkable statement of the confidence investors have in the company. Amazon at its core has an amazing combination of entrepreneurial spirit and scale and although it receives 49 cents of every $1 spent on e-commerce in the United States, most of this investor confidence stems from the excitement Amazon sells to its customers, investors and the media. Amazon seems to have the ability to enter and compete in any industry it chooses and its future ambitions include an aerial fulfillment center and a drone delivery program. It's these programs and futuristic visions that have helped it keep its allure with investors.
Amazon first began as an online retailer for books. It then began releasing remarkably exciting products one after another - the Kindle (e-reader), CreateSpace (a self-publishing service), Amazon Web Services (cloud computing service), Amazon Prime (delivery service), and Alexa (virtual assistant). Amazon currently employs more than 550,000 people and brings in $178 billion in revenue every year. It now also sells almost anything you can think of, from appointments with plumbers, to peanut butter, to cloud computing. Behind it all is a relentless ambition for growth that stems from Amazon's Founder and CEO Jeff Bezos.
When Amazon went public in 1997, Mr. Bezos established that he would not work for Wall Street. As a result, Amazon has become a company that is unafraid of being wrong or losing money. "We like to go down unexplored alleys and see what’s at the end. Sometimes they’re dead ends,” Mr. Bezos said in 2009. “Sometimes they open up into broad avenues and we find something really exciting." At just 24 years old, Amazon has had a remarkable growth trajectory already but its future seems even brighter. Amazon's ambitions for the future appear to be endless and even when some of their ambitions don't go according to plan, investors remain confident in Amazon's approach.
Apple was the first American company to cross the $1 trillion line just last month. The next question on everyone's mind is: Will Amazon or Apple be the first to hit $2 trillion?
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