Last time we learned that Amazon added its Prime service for free shipping 📦
Now, let’s explore what happened next
Suddenly, a simple online bookstore had become a massive tech giant 🧑💻
So, Amazon launched their own web services (AWS) in 2002 🎮
By building tech to support other online businesses, smaller companies had to rely even more on Amazon, instead of competing! 🌐
In 2005 (1 year after Prime was launched!) Amazon’s revenue was a whopping $10.7 billion 🤑
9 years later, Amazon launched the Fire TV in 2014 and their annual revenue jumped to $88.9 billion 🤯
By 2016, Amazon’s annual revenue was $135 billion with the launch of the Amazon Echo 🔈
As Amazon supported customer’s daily lives more and more, Bezoz decided to look into an essential purchase: food 🥦
So, Amazon acquired Whole Foods, a gourmet grocery store, for $13.7 billion in 2017! 🏦
Even after the acquisition, Amazon was making $178.9 billion/year 🤑
In 2018, Amazon launched Amazon Go, a convenience store that operates without any staff 🛍️
At the time, it’s annual revenue was a whopping $232.9 billion
In 2020, Amazon's annual revenue was $386 billion and it continues to grow rapidly in profits today under the leadership of Andy Jassy, Amazon’s new CEO in 2021 🚀
