Amazon.com, Inc., doing business as Amazon (/ˈæməˌzɒn/), is an American electronic commerce and cloud computing company based in Seattle, Washington, that was founded by Jeff Bezos on July 5, 1994. The tech giant is the largest Internet retailer in the world as measured by revenue and market capitalization, and second largest after Alibaba Group in terms of total sales. The Amazon.com website started as an online bookstore and later diversified to sell video downloads/streaming, MP3 downloads/streaming, audiobook downloads/streaming, software, video games, electronics, apparel, furniture, food, toys, and jewelry. The company also owns a publishing arm, Amazon Publishing, a film and television studio, Amazon Studios, produces consumer electronics lines including Kindle e-readers, Fire tablets, Fire TV, and Echo devices, and is the world's largest provider of cloud infrastructure services (IaaS and PaaS) through its AWS subsidiary. Amazon also sells certain low-end products under its in-house brand AmazonBasics.
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Barnes & Noble sued Amazon on May 12, 1997, alleging that Amazon's claim to be "the world's largest bookstore" was false because it "...isn't a bookstore at all. It's a book broker." The suit was later settled out of court and Amazon continued to make the same claim. Walmart sued Amazon on October 16, 1998, alleging that Amazon had stolen Walmart's trade secrets by hiring former Walmart executives. Although this suit was also settled out of court, it caused Amazon to implement internal restrictions and the reassignment of the former Walmart executives.
In June 2017, Amazon announced that it would acquire Whole Foods, a high-end supermarket chain with over 400 stores, for $13.4 billion. The acquisition was seen by media experts as a move to strengthen its physical holdings and challenge Walmart's supremacy as a brick and mortar retailer. This sentiment was heightened by the fact that the announcement coincided with Walmart's purchase of men's apparel company Bonobos. On August 23, 2017, Whole Foods shareholders, as well as the Federal Trade Commission, approved the deal.
Nail your timing. While it can be valuable to be one of the first in line for limited-quantity products, if you’re going to shop online on Black Friday, timing may not actually matter all that much. According to data from deal-finding browser extension Honey, online purchases spike well after sunrise. “On Black Friday, spending peaked at 11 a.m. PST in Los Angeles and at 12 p.m. EST in New York City,” says Kelly Parisi, Vice President of Communications at Honey.
In one brief keynote, the company announced a car infotainment device, yet more updates to the standard Echo speaker and Dot line, a subwoofer, a set of stereo amplifiers, a Chromecast Audio competitor, a smart wall clock, a smart plug, and a super-powered Slingbox-style device for over-the-air programming. Oh and lest we forget, Amazon also made a microwave with Alexa built in, using it as a model to start competing with companies like KitchenAid, LG, and Samsung by making Alexa the go-to voice assistant and AI hub for household appliances. In addition to building its own devices, the company also invests in startups through its Alexa Fund to scout new and promising entrants and product categories, and it’s acquired quite a few of those companies — including security cam startup Blink and smart doorbell maker Ring — to ensure it has every corner of the smart home covered.
Alex Ikonn and his wife Mimi launched Luxyhair.com after they realized how hard it was to find great hair extensions in the marketplace. This hair extensions ecommerce retailer has built their business on the fan audience they’ve attracted through YouTube tutorial videos. They have a serious following, which is exactly what has enabled them to grow their business to seven figures since 2010!
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Junglee is a former online shopping service provided by Amazon that enabled customers to search for products from online and offline retailers in India. Junglee started off as a virtual database that was used to extract information off the internet and deliver it to enterprise applications. As it progressed, Junglee started to use its database technology to create a single window marketplace on the internet by making every item from every supplier available for purchase. Web shoppers could locate, compare and transact millions of products from across the Internet shopping mall through one window.
Amazon has separate retail websites for the United States, the United Kingdom and Ireland, France, Canada, Germany, Italy, Spain, Netherlands, Australia, Brazil, Japan, China, India, Mexico, Singapore, and Turkey. In 2016, Dutch, Polish, and Turkish language versions of the German Amazon website were also launched. Amazon also offers international shipping of some of its products to certain other countries.
Currently, individuals can sell goods in some 20 categories, while professional sellers have been approved to sell items in more than 15 additional categories. Individual-approved categories include books, consumer electronics, tools and home improvement, and toys and games. On the other hand, professionals must meet various requirements to sell beauty products, clothing, fine art and wine.
Twitch started in 2007 as a 24-hour live stream of co-founder Justin Kan’s life (he coined the term “lifecasting”) called Justin.tv, but it became very clear very quickly that live gaming content was more popular than pretty much anything else. In 2011, Twitch spun off gaming-centric channels as Twitch.tv, and it grew exponentially as online games and the technology to broadcast them live on the internet became more widespread and popular.
Vince Offer is a famous director, comedian, and commercial pitchman who made his name promoting the ShamWow. Using his natural charisma and his ability to add double entendres to his pitches, Vince turned the commercial into a major career move. The ShamWow itself is one of the most successful cleaning products on the market today, and Vince himself has gone on to pitch several other As Seen on TV products.