Amazon
Founded by Jeff Bezos on July 5, 1994, Amazon is an American multinational technology company which originally began as an online bookstore. Today, it has expanded its scope of products and services, becoming one of the world's largest technology companies.
At present, it is led by Andy Jassy, who succeeded Bezos as the CEO after the latter resigned in 2021.
Amazon's primary business is its online marketplace, where it sells products in various categories such as electronics, books, apparel, home goods, and more.
In 2005, Amazon introduced its subscription service, Amazon Prime, which offers benefits like free two-day shipping, access to the OTT platform Amazon Prime Video, ad-free music streaming, and more. In 2006, Amazon launched its cloud computing platform, Amazon Web Services (AWS).
In 2007, Amazon introduced the Kindle e-reader, which revolutionised the way of reading digital books, newspapers, and magazines. Providing access to a wide range of e-books and digital content, the Kindle ecosystem allows users to purchase and read digital books, newspapers, and magazines on a portable device.
Alongside this, Amazon has also developed two intelligent virtual assistants called Alexa and Echo. These devices can perform tasks, interact with users through voice commands, control smart home devices, play music, and more.
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Social Media
Amazon to acquire some assets of MX Player
Payal Ganguly | June 6, 2024
Amazon has confirmed buying out some assets of Times Internet owned video streaming platform MX Player. The deal which is being ironed out, values MX Player at almost a tenth of its $500 million valuation in 2019 on the back of an investment by Tencent, according to reports.
Retail
Amazon reports profits for Q1 2024 with surge in AWS sales
Payal Ganguly | May 1, 2024
Amazon tripled its profits for Q1, 2024 on the back of growing business for AWS, advertising and retail.
Daily Capsule
Dilip Asbe on NPCI, UPI going global; Singularity Growth invests in Indian startups
Team YS | April 12, 2024
In March 2024, UPI’s total transaction value stood at Rs 19.78 lakh and the number of transactions (payments) at 13.4 billion. However, Asbe believes there is ample opportunity to grow.
Ecommerce
Amazon launches ‘Bazaar’ to offer affordable unbranded products
Ishan Patra | April 6, 2024
azaar is currently accessible to certain Amazon customers via the company’s Android app. However, when last checked, the storefront was not found on Amazon’s website or iOS app.
Leadership
Driving Inclusion: Stories of leadership and diversity at Amazon
Mayuri Ramanan | March 28, 2024
Driving inclusion is more than just a buzzword at Amazon - it's a commitment to fostering a workplace where everyone thrives.
News
Gig work is the primary source of income for 88% of gig workers: report
Pooja Malik | March 21, 2024
A survey by Ipsos Research Private Limited highlights that earning potential, flexible hours, work-life balance, and independence are some of the key motivators for gig workers.
Business Ideas/Plan
Why zero commission fees from sellers is a new sustainable way to grow your startup?
Rahul Bansal | March 4, 2024
The traditional business model of charging commission fees from sellers is being challenged by a new, sustainable approach: zero commission fees.