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.
That’s a lot of people to compete with, but it can pay off. While smaller items like clothing, consumables, and books won’t see that large of a price cut, Black Friday is still worth the pre-dawn alarm if you’re after deals on big-ticket items. Think: Household appliances, grills, TVs, and other electronics. “Stores use the doorbusters to whip you into a bargain-shopping frenzy in hopes that you'll buy more than the advertised bargains,” says Lisa Lee Freeman, co-host of the Hot Shopping Tips podcast. “The stores often barely break even or even lose money on doorbuster specials, but they make it back when shoppers stick around and buy other items that may not be such great deals.”
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.
AWS started way back in 2000 as a way to help other retailers manage e-commerce operations, but it soon expanded into much more when key project members managed to convince Bezos that improving and evolving Amazon’s own infrastructure may hold the key to a new business model. In 2006, the product as we know it today launched into public availability and proved to be a pioneer for the entire cloud computing industry, offering cloud storage, hosting, and a suite of other tools for managing entire digital infrastructures in remote data centers. The division now pulls in roughly $6 billion every quarter and continues to grow at breakneck pace. It earned $17.5 billion in revenue in all of 2017 and regularly outperforms the company’s entire North American retail division in terms of profit.
While Amazon grew in the ‘90s largely thanks to its growing share of the print book market and its dominance of online book sales, it was its early investments in ebooks and e-readers that turned it into a digital publishing and book-selling powerhouse. Amazon began work on its first Kindle e-reader starting in 2004 under codename Fiona, with its internal Lab126 hardware division leading the product development process. The first device was released in November of 2007 and sold for $399. Amazon has since released numerous iterations of the Kindle, and it now dominates the e-reader market after edging out competing products from Barnes & Noble, Kobo, and others.