Audible.com is a seller and producer of spoken audio entertainment, information and educational programming on the Internet. Audible sells digital audiobooks, radio and TV programs and audio versions of magazines and newspapers. Through its production arm, Audible Studios, Audible has also become the world's largest producer of downloadable audiobooks. On January 31, 2008, Amazon announced it would buy Audible for about $300 million. The deal closed in March 2008 and Audible became a subsidiary of Amazon.
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Amazon was founded in 1994 around Bezos’ desire to start an internet-based business, with the goal of selling items online emerging as an early and obvious inroad into the dot-com boom. A former Wall Street worker with electrical engineering and computer science degrees, Bezos zeroed in on books as a viable initial product category for his online store due to the universality of literature, the existing stock of print books, and the relatively low price of each unit. Bezos briefly considered naming his company Relentless.com — an early sign of the man’s tenacious business mindset — but friends and family suggested it was too malevolent sounding. Relentless.com, which Bezos bought roughly 24 years ago, still redirects to Amazon.com. The company now controls almost half of all print book sales in the US.
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Amazon lobbies the United States federal government and state governments on issues such as the enforcement of sales taxes on online sales, transportation safety, privacy and data protection and intellectual property. According to regulatory filings, Amazon.com focuses its lobbying on the United States Congress, the Federal Communications Commission and the Federal Reserve. Amazon.com spent roughly $3.5 million, $5 million and $9.5 million on lobbying, in 2013, 2014 and 2015, respectively.
After reading a report about the future of the Internet that projected annual web commerce growth at 2,300%, Bezos created a list of 20 products that could be marketed online. He narrowed the list to what he felt were the five most promising products, which included: compact discs, computer hardware, computer software, videos, and books. Bezos finally decided that his new business would sell books online, due to the large worldwide demand for literature, the low price points for books, along with the huge number of titles available in print. Amazon was founded in the garage of Bezos' rented home in Bellevue, Washington. Bezos' parents invested almost $250,000 in the start-up.
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Even so, the first infomercial of the same type we see on TV today, aired in 1982 and was for a hair growth supplement called “New Generation” which was marketed by entrepreneur Robert E. Murphy Jr. It was such a success that other companies quickly began following suit and purchasing program-length commercial air time. At this time infomercials used to commonly be shown during late night/early morning hours, although stations discovered success showing them at other times when they learned that the majority of purchases were made in the morning, during the day, and around primetime.