In 1994, Jeff and MacKenzie Bezos moved to Seattle to start an online bookstore.
Aided by computer engineers Stan Kaphan and Paul Davis, Amazon went live in 1995.
A 1997 IPO raised $54 million, put Amazon in the public eye and boosted sales.
In the beginning, Amazon staff ordered books wholesale from distributors and mailed them to customers.
Amazon introduced game-changing innovations, such as unlimited rankings and 1-Click ordering.
By the end of 1999, Amazon’s sales growth prompted Time magazine to name Bezos “Person of the Year.”
Amazon survived the dot-com crash, expanded into new categories and countries, and strove to become a platform.
In 2006, Amazon introduced computer storage and usage services priced like a utility.
Pinterest and Instagram exist because they had access to Amazon’s computing power.
Amazon launched the Kindle e-book reader in 2007, creating and eventually controlling the e-book market.