Amazon was founded in 1994 by Jeff Bezos in his Bellevue, Washington garage as an online bookstore. It expanded relentlessly — first into music, electronics, and toys, then into virtually every retail category. Today, Amazon is the largest e-commerce company in the world, with over 300 million active customer accounts.
But e-commerce isn’t where Amazon makes most of its profit. Amazon Web Services (AWS), launched in 2006, generates the bulk of the company’s operating income. AWS is the world’s largest cloud computing platform with over 30% market share and annual revenue exceeding $90 billion.
Amazon’s ecosystem includes Prime (200+ million subscribers), Alexa and Echo devices, Ring home security, Twitch (live streaming), MGM Studios (acquired for $8.5 billion), Whole Foods Market, and one of the world’s largest logistics networks. The company operates over 1,000 warehouses and fulfillment centers.
Annual revenue exceeded $574 billion in 2023, and Amazon employs over 1.5 million people — making it one of the largest private employers in the world. Andy Jassy succeeded Bezos as CEO in 2021. Bezos remains executive chairman.
Amazon’s influence on technology and commerce is difficult to overstate. AWS effectively created the modern cloud computing industry. Amazon Prime reshaped consumer expectations around shipping speed. And the company’s advertising business has quietly grown into a $46 billion annual revenue stream, making it the third-largest digital ad platform after Google and Meta.
Headquartered in Seattle, Amazon’s market cap regularly exceeds $1.5 trillion.
