August 23: The history of Amazon (part 1 of 5)
Amazon’s story begins 27 years ago with a humble beginning in a garage.
The history of Amazon (part 1 of 5)
Amazon’s story begins 27 years ago with a humble beginning in a garage. This week’s facts are a 5-part series where we’ll walk through some of Amazon’s most significant milestones.
The early days
1994: Jeff Bezos founds Amazon out of his Bellevue, Washington garage.
1995: Amazon.com launches as an online book store, primarily competing with local booksellers and Barnes & Noble.
1996: Amazon raises an $8 million Series A from Kleiner Perkins—its only venture capital investment.
1997: Amazon goes public, and the IPO raises $54 million with a market value of $438 million.
1998: Category expansion into CDs and DVDs.
1999: Amazon secures the “1-Click” patent for fast check-out. Jeff Bezos is Time Magazine’s Person of the Year.
The Amazon.com website home page as of August 1995.
Jeff Bezos in January 1997 in Seattle.
Photo: Paul Souders/Getty Images
Jeff Bezos with a shopping cart full of books. September 1998 in Seattle.
Photo: Rex Rystedt/The LIFE Images Collection/Getty Images
Jeff Bezos on the cover of Time Magazine as Person of the Year in 1999. He signed this magazine with the note “Customers Rule!” Photo: Goldin Auctions