In July 1995, the company began service as an online bookstore. The first book sold on Amazon.com was Douglas Hofstadter's Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought. In the first two months of business, Amazon sold to all 50 states and over 45 countries. Within two months, Amazon's sales were up to $20,000/week. In October 1995, the company announced itself to the public. In 1996, it was reincorporated in Delaware. Amazon issued its initial public offering of stock on May 15, 1997, at $18 per share, trading under the NASDAQ stock exchange symbol AMZN.
Shortly after the first Kindle launched, Amazon premiered its Kindle Direct Publishing platform to let authors self-publish and sell books on Amazon. Two years later, the company launched its own suite of professional imprints called Amazon Publishing. Amazon now oversees tens of millions of self-published works on its platform and nearly two dozen imprints. In 2017, Amazon had more than 83 percent of all US ebook sales.
You can save even more money by shopping with discounted gift cards. “Companies like CardCash and Raise offer gift cards up to fifty percent off, so a one-hundred-dollar gift card could be purchased for only fifty dollars,” says Conway of Slickdeals. “Some gift cards to popular merchants may be a lesser savings, but every dollar counts, especially if you're making a larger purchase.”
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Amazon's state sales tax collection policy has changed over the years since it did not collect any sales taxes in its early years. In the U.S., state and local sales taxes are levied by state and local governments, not at the federal level. In most countries where Amazon operates, a sales tax or value added tax is uniform throughout the country, and Amazon is obliged to collect it from all customers. Proponents of forcing Amazon.com to collect sales tax—at least in states where it maintains a physical presence—argue the corporation wields an anti-competitive advantage over storefront businesses forced to collect sales tax.
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In response to criticism that Amazon doesn’t pay its workers a livable wage, Jeff Bezos announced beginning November 1, 2018, all U.S. and U.K. Amazon employees will earn a $15 an hour minimum wage. Amazon will also lobby to make $15 an hour the federal minimum wage. At the same time, Amazon also eliminated stock awards and bonuses for hourly employees.
On July 5, 1994, Bezos initially incorporated the company in Washington State with the name Cadabra, Inc. He later changed the name to Amazon.com, Inc. a few months later, after a lawyer misheard its original name as "cadaver". In September 1994, Bezos purchased the URL Relentless.com and briefly considered naming his online store Relentless, but friends told him the name sounded a bit sinister. The domain is still owned by Bezos and still redirects to the retailer.