Amazon Articles
Amazon Articles – Amazon is one of the Most Popular Stores within the U.S. as well as other countries. In Sept. 4, 2018, Amazon.com Inc. (AMZN) became only the second-ever company to join the $1 trillion market capitalization club, when its share price crossed the $2,050.27 threshold.1 This comes just over a month after Apple (AAPL) hit the $1 trillion mark in August of that year.
Amazon had its initial public offering (IPO) on May 15, 1997, trading at $18 per share.3 On Sept. 4, 2018, $1,000 worth of Amazon stock purchased at its IPO price would have been worth over $1.1 million. Given its growth, most people know what Amazon does, but they may not know some fun facts.
In the early stages of Amazon, Jeff Bezos, his then-wife, MacKenzie Bezos, and Amazon’s first employee, Shel Kaphan, held their meetings inside their local Barnes and Noble. Before founder Jeff Bezos landed on “Amazon” as the name of the e-commerce giant, he had other names he kicked around, such as “Cadabra” (as in “Abracadabra”) and “Relentless.”
However, his lawyer convinced him that “Cadabra” did not sound magical at all. Rather, “Cadabra” sounded too similar to “cadaver.” Although “Relentless” did not make the cut to be the name of the company, Jeff Bezos liked the name enough to buy the domain name, and now the website; relentless.com redirects to the Amazon.com homepage.
Amazon Launched as an Auction Site
In Amazon’s early stages as a public company, it launched an auction site to compete with its competitors in the e-commerce space.5 The day Amazon launched the auction site in 1999, its shares soared over 8%.