More precisely speaking the Tapzo was an application aggregator it united application across all classifications under a solitary rooftop. In spite of having a gigantic client base-around fourteen thousand clients, standard memberships, and strong speculations, the startup was esteemed almost at a large portion of the worth of the last round of ventures. This prompted the procurement of Tapzo by Amazon Pay.
Would you be able to envision an application that will aggregately join any remaining applications? You might figure this kind of start-up application can bring in gigantic cash as individuals will frantically utilize such applications. Yet, today we will be going to examine such an application that was fizzled on the lookout.
The application is “Tapzo” which was once advanced by Bhuvan Bam. This application got such a lot of advancement in its initial days that it reached close to 100 million valuations rapidly. Yet, its prosperity didn’t have a long run.
Ankur Singla began this application in 2010. It was not Tapzo in its in front of the pack. It was Akosha who help to oversee the issues of their clients. Then, at that point, it becomes Tapzo in 2016 which was an application aggregator.
The company got 5 million clients in a matter of seconds. They had the best planning to enter the market. They got legitimate subsidizing. They had an astonishing group. Having these, they fizzled. Let’s look at the reasons behind the failure of Tapzo.
They previously made Akosha, then, at that point, they changed over it into Helpchat, and they at last changed over in Tapzo. At the point when an organization changes their business name so habitually, it hampered their standing and trust among the clients and their financial backers. One organization needs to accomplish such a great deal of exploration to enter another market. However, Tapzo didn’t do that appropriately.
Issues in Income
Any organization needs to deal with its income cautiously. However they had an extraordinary application, yet they didn’t have positive capital in their fiscal reports. They got immense support from different financial backers. Whenever they had the cash they utilised it in obtaining clients by advertising. In any case, it didn’t mean they are getting sufficient cash from customers to support on the lookout.
More Reliance on Investors
They generally depended on their financial backers. They began to fund-raise without feeling how might they make the application beneficial. So at first financial backers poured their cash into this promising beginning up, however, when they understood they had no reasonable vision on the future, they quit giving cash. In this way, the application was in the circumstance of liquidation.
Ignoring the Customer Requirements
They didn’t pay much attention to their customers. They didn’t figure out how to function their application so much easier rather they were more into discounts. Yet, a discount isn’t the arrangement, an organization needs to further develop its functional strengths, so a circumstance like giving a discount seldom happens. However, Tapzo didn’t buckle down in that field.
Selling the Organization
This very much subsidized fire-up went available to be purchased in only 40 million dollars to Amazon pay. They had a huge potential to get more exorbitant costs however they couldn’t support themselves in such circumstances for a smidgen of time.
Amazon got this open door and acquired Tapzo as it had immense information on client purchasing propensities and other related information which assists them with being a market aggregator. Different specialists of Tapzo are currently working at Amazon which is presumably an indication of a disappointing fire up.
Conclusion
Doubtlessly no sort of issue what clients are into, it is only out and out to peruse this report about Tapzo’s Story. I was truly pulled in addition to the fact that it included numerous things; however one needs to become familiar with the mix-up. Truly, what’s not to gain from their mistake here?
FAQs
Why is Tapzo closed?
Changing business regularly, Toom much dependent on investors, and ignoring the customer requirements were some of the reasons that led to the downfall of Tapzo.
Who acquired Tapzo?
Amazon acquired Tapzo for $40 million in a cash deal in 2018.
What does Tapzo do?
Tapzo is an aggregator that provided multi-services such as cabs, recharge, food, deals, bills, mobile payments, and news.
Women have always been an important part of some of the greatest accomplishments in the world. History has been created by them in every sector, especially the business industry, with the leadership qualities they are the head of some most popular companies in the world.
Even after facing a roadblock, they broke all the chains of shackles and are soaring high in the sky. The business world has seen some great women taking charge and leading from the front.
Just like how women are playing big roles in every industry, there are women out there who have stopped working for different reasons. Those reasons range from taking care of their own self including mental and physical health, taking care of their families or some other pivotal reasons. As time passes, when they feel like coming back into the work environment, they might feel awkward and a little hard while re-launching their career.
Nevertheless, various organisations have taken a step forward to eradicate this problem. Now we get to see a number of big companies organizing returnship programs. In this article, we will talk about the top returnship programs for women in India. So let’s get started.
“I want every little girl who’s been told she’s bossy to be told again she has leadership skills.” -Sheryl Sandberg
There are people who leave their career behind and take their time off for many different reasons; it can be because of their child, to take care of their mental health or physical health, or learn some new things about themselves.
When they decide to return to their job once again, they might need some help, because of that some organisation offers returnship programs to them.
Returnship program is like an internship where instead of starting from the bottom you get introduced to your previous role and it helps you in understanding your role. Apart from that you also get to catch up with all the changes that have happened during your absence.
Google Next Innings Program
Google Next Innings Program Homepage
This program is for women who are looking forward to going back to their careers once again. Various experience leaders come forward to guide and mentor you. Some of the people who got selected, get a chance to work on Google Cloud’s core technologies where one not only get to see the development of the product but also learn and gain experiences from the experts. It is paid programme of 6 months and can be only done in Bangalore and Hyderabad
To join this program one must have 3 years of experience, must possess a Bachelor’s degree in Computer Science or other technical related fields. Apart from that, a certain level of knowledge in programming languages is also needed. It is applicable for those women who have taken a break of 6 months or more.
Amazon Rekindle Program
Amazon Rekindle Program Homepage
One of the largest E-commerce platforms has launched this returnship program for women who have taken at least a 12-month break from their careers. This program is a ladder for those women who want to acquire the same position that they were in before their break.
Those who want to apply for this program must come with previous experience in their position. After candidates join this program, information regarding interviews is provided to them apart from that they get mentored by experienced people as well.
IBM’s Tech Re-Entry Program
IBM’s Tech Re-Entry Program Homepage
This program is for those who have taken at least 2 years of break from their careers and is thinking to return to their place. Women applying for this program must have experience before, the best part even if someone has taken a break of 20 years, they can also apply in this program.
This program was launched in 2018 and it attains women to sharpen their skills and give them an opportunity to work with new technologies. Throughout the program, the candidates will be mentored by experienced professionals and the best from the rest will be taken for full time in IBM.
PayPal Recharge India
PayPal Recharge India
Available in Bangalore and Chennai, this program is for those women who have been working in the tech industry and has been away from their work for 1 to 5 years and is now thinking about returning to their job. Through this program, one gets to join PayPal’s boot camp and some also get into the skill-building programs and also get attractive job offers at PayPal as well.
Microsoft Springboard
Microsoft Springboard Homepage
The program offered by Microsoft in India provides an opportunity for women who have taken at least a break of 6 months from their careers. The applicants of the Springboard program must have experience of four years. The program is for 16 weeks and it is said to be a popular one for women who are trying to revive their careers after the break. Experienced leaders took the charge to mentor the candidates.
Accenture Return to Work Program
Accenture Return to Work Homepage
Accenture Return is 16 weeks paid returnship program, applicable to those who are away for at least 18 months or more. Job training is offered through this program, workshops are done to polish some skills of the candidate, especially their soft skills. After the tenure of the program is completed, Accenture offers full-time job opportunities to the candidates.
Thoughtworks Vapasi
Thoughtworks Vapasi Homepage
Just like the above programs, Thoughtworks Vapasi is all about helping women make a comeback to their workplace after a break. Women must have at least three years of experience to apply for this program and have taken a break of 1 to 8 years. This program provides mentoring from experienced leaders and helps in enhancing the leadership qualities of the candidates. The program is hosted in the Bangalore and Hyderabad offices of Thoughtworks.
Conclusion
Women have proven their mettle again and again in every industry, the returnship programs help women to take charge of their career after the break that they took. All these returnship programs provide valuable skills, mentorship and opportunities which helps Indian women to make a comeback in their professional life with a bang.
FAQs
How do returnship works?
Returnships programs are internships offered to adults who took a break from their careers, they provide career opportunities by sharpening their skills, providing mentorships so that the candidates can go back to their previous job roles.
Are returnships paid?
Yes, many of the returnships are paid and are quite helpful for people.
What is the benefit of the returnship program?
Returnship program helps in learning new skills and new job opportunities are offered. It helps you get back to your work after a break and lets you start where you left off.
With the increase in their wealth, the richest of people also inspire the world to come to their level. However, very few people can hustle as the richest do. Top richest people inspire more people to hustle and motivate them. Here is a list of the world’s richest people’s monthly income, annual income, earnings in a week and a day.
The Co-founder, CEO, and Chief Engineer of SpaceX, an American aerospace manufacturer and the CEO and Product Architect of Tesla Inc., Elon Musk is known as an entrepreneur and business magnate of worldwide fame. He is currently known as the richest person in the world and highest-paid CEO, who notably retains his position as one of the top 3 of the highest income holders of the world. Musk successfully crossed the $200 billion on September 27, 2021, following the surge of a Tesla stock and was worth 203.4 billion at the close of the markets on the same date. With this, he surpassed Jeff Bezos, who attained the same in August 2020, and Bernard Arnault, to achieve the feat!
Elon Musk is also the founder of The Boring Company, Neuralink, and OpenAI but his fortune is strongly tied to the ownership of Tesla.
Jeff Bezos
Founder – Amazon Net Worth (2022) – $171.4 Billion
Jeff Bezos Income | Salary of Richest People in the World
Jeff Bezos is the executive and the biggest shareholder of the web-based shopping giant Amazon. Bezos is an American innovation business visionary and speculator, esteemed over $100 billion. He is among the top 3 persons with the highest income in the world. Bezos’ different business interests incorporate aviation and e-commerce. He is the originator and proprietor of Blue Origin, a space transportation company. Established in 2000, the organization has directed dry runs to space starting in 2015, and arrangements for business suborbital human spaceflight starting in 2018. He likewise bought The Washington Post daily paper in 2013.
Bernard Arnault oversees an empire of 70 brands including Louis Vuitton and Sephora. Arnault got his start by putting up $15 million from that business to buy Christian Dior in 1985. LVMH spent $3.2 billion in 2019 for luxury hospitality group, Belmond, which owns or manages 46 hotels, trains and river cruises.
Bill Gates
Founder of
Microsoft
Net Worth
$117 Billion
Founded in
1995
Bill Gates Income | Salary of Richest People in the World
Bill Gates is the Co-founder and Technology advisor of Microsoft Corporation. Bill Gates was the second richest person in the world in 2018 following Jeff Bezos. He became the third richest person, after Bernard Arnault, who took him over in the July of 2019. Bill Gates is one of the best-known businesspeople of the tech industry. He has been scrutinized for his business strategies, which have been viewed as unfocused, a conclusion that has now and again been maintained by various court rulings. Later in his vocation, Gates sought after various magnanimous attempts, giving a lot of cash to different altruistic associations and logical research programs through the Bill and Melinda Gates Foundation which was set up in 2000.
Warren Buffett
Founder- Berkshire Hathaway Net Worth (2022) – $117.4 Billion
Warren Buffett Income | Salary of Richest People in the World
Warren Buffet is an investor, CEO and the biggest shareholder of Berkshire Hathway, the American multinational aggregate holding organization. The best financial specialist on the planet, Buffett is likewise a business head honcho and an altruist esteemed at $68.2 billion. He is the Buffett, the fourth wealthiest individual on the planet, is frequently alluded to as the Wizard of Omaha or Prophet of Omaha, and is noted for his adherence to esteem contributing and for his own thriftiness in spite of his massive riches.
Larry Ellison
Founder – Oracle Corporation Net Worth (2022) – $104.8 Billion
Larry Ellison Income | Salary of Richest People in the World
Larry Ellison is the prime supporter of Oracle Corporation and was the CEO of the company until September 2014. With a net worth of $43.4 billion, Larry is, as of now, the seventh wealthiest individual on the planet. As of now, he is the official administrator and boss innovation officer of Oracle. Larry Ellison has given up to 1% of his riches to philanthropy and has marked The Giving Pledge. He ranks 8th position in the Forbes list of top 10 richest person in the world.
Carlos Slim is a Mexican business head honcho, financial specialist, and giver who is among the most successful entrepreneurs and one of the wealthiest individual on the planet esteemed at $80.7 billion. Slim is known as the Warren Buffett of Mexico, getting his fortune from his broad possessions in an extensive number of Mexican organizations through his aggregate, Grupo Carso.
Mark Zuckerberg
Founder – Facebook (Meta) Net Worth (2022) – $71.7 Billion
Mark Zuckerberg Income | Salary of Richest People in the World
Mark Zuckerberg, a prime supporter and CEO of Facebook. He is among the richest people on the planet with net worth esteemed at $71.7 billion. American developer, Internet business visionary, he established Facebook from his school apartment in Harvard. The site later extended quickly with one billion users joining in by 2012.
Jim Walton
Founder – Walmart Net Worth (2022) – $66.5 Billion
Jim Walton Income | Salary of Richest People in the World
Jim Walton is the youngest son of Sam Walton, the founder of Walmart – the retail brand. The Waltons are the richest family in America. Walton held a seat on Walmart’s board until 2016 when he yielded the seat to his son Steuart. Jim Walton shares 96% ownership of the family’s Arvest Bank, of which he is the chairman and CEO.
Charles Koch
Founder – Koch Industries Net Worth (2022) – $58 Billion
Charles Koch Income | Salary of Richest People in the World
Charles de GanahlKoch, esteemed at $55.2 billion, is an American businessperson, political benefactor and altruist. Charles Koch is the 12th wealthiest individual on the planet. He is co-proprietor, director of the board, and CEO of Koch Industries, well known additionally for its say in a prevalent American TV demonstrate ‘The Newsroom’. His family possesses 42% of the shares of the aggregate.
Amancio Ortega
Founder- Inditex Fashion group Net Worth (2022) – $55.8 Billion
Amancio ortega Income | Salary of Richest People in the World
Amancio Ortega is the founder and former chairman of Inditex Fashion Group. He is the richest man in Europe and the 2nd richest mai in the world as of July 2019. He cofounded retail chain ‘Zara’ for clothing and accessories with his ex-wife Rosalia Merabest. He owns around 59% of Inditex. Amancio has a net worth of USD 68 Billion.
David Koch & Family
Founder – Koch Industries Net Worth (2019) – $50.5 Billion
David Koch Income | Salary of Richest People in the World
David Koch is the sibling of Charles Koch, was the Executive Vice President of Koch Industries. Esteemed same as his sibling at $55.2 billion, David was the 6th wealthiest individual on the planet. David likewise possessed 42% of the aggregate that the sibling acquired from their dad and afterwards extended. David coch wife Julia Koch & family has net worth of $47.4 billion (2021).
Ingvar Kamprad
Founder – IKEA Net Worth (2018) – $58.7 Billion
Ingvar Kamprad Income | Salary of Richest People in the World
Ingvar Kamprad was the Swedish business financier and originator of the renowned IKEA. The Swedish billionaire died in January 2018. He has positioned the 8th wealthiest individual on the planet at $58.7 billion in 2018. The Swedish retail organization was World’s biggest furniture offering organization in 2008. Kamprad transferred all his assets to his sons Peter Kamprad , Mathias Kamprad and Jonas. All the kamprad brothers are billionaires. Each of them has net worth of $1.3 billion (2021).
FAQs
Who is the richest person in the world 2022?
Elon Musk is the world’s richest person, with an estimated net worth of $229.1 Billion followed by Jeff Bezos, who is worth $171.4 Billion.
How many billionaires are there in the world 2022?
In the 35th annual Forbes list ofthe world’s billionaires, there are 2,755 billionaires.
Who are top richest people in the world?
Top 10 Richest in the world are:
Elon Musk
Jeff Bezos
Bernard Arnault & Family
Bill Gates
Warren Buffett
Larry Ellison
Carlos Slim
Mark Zuckerberg
Jim Walton
Charles Koch
Which Country has the most Billionaires?
Countries with the most Billionaires with ranking:
1. United States 2. China 3. India 4. Germany 5. Russia
Who is the highest paid person in the world?
Tim Cook, the CEO of Apple, is the highest paid employee in the world. He received $265 million in 2020 (base salary of $3 million, stock awards of $250 million, and perks around $1 million).
All the businesses and jobs make for the economy. A major factor that plays a huge role in shaping and influencing the global economy is the cream of people in the world.
This cream constitutes the richest people in the world. Anyone who is able to earn well and live a luxurious life is said to be rich. But there are few who have made a mark of richness in the entire world.
There are certain people who are born rich and work hard to make themselves richer. There are also people who start from scratch and create a place of their own.
The most wealthy persons in the world include Jeff Bezos, Elon Musk, and more. These people occupy a huge place and importance in the whole world.
The factor that determines how rich a person is their net worth. This worth is calculated in terms of monetary values. Higher the net worth, the richer the person is.
What does Net Worth Mean?
In simple economic terms, it is the value of all assets minus all liabilities. It is a difference between what one has and what one owes to others. It is the amount by which the value of a person’s assets exceeds the liabilities.
It is a quantifiable concept. It measures the value of a person, organization, or country. High net worth means good financial strength and a good credit rating of a person or organization. Low net worth means weaker financial strength and lower credit rating.
Most Richest People in The Whole World
The rich are a huge contributor to the global economy. They not only contribute but also are great influencers of the economy and people’s perceptions. Most of these people have used technology for the betterment and enhancement of regular people’s life.
Here are the top five richest people in the world:
Elon Reeve Musk (Elon Musk)
Elon Musk | Richest People in the world
This 50-year-old man, popularly known as the CEO of Tesla Motors, is the richest person in the world. He was born in South Africa and is now an American entrepreneur. He is the co-founder of PayPal (PYPL), Neuralink, and OpenAI.
Elon Musk is the founder, CEO, Chief engineer, and designer of the famous (Space exploration technologies) SpaceX. He is also the founder of the Boring Company. He started his entrepreneurial journey with the startup, Zip2.
Since then, this man has not stopped exploring the field of technology and has made himself the richest in the world. At present, he has a net worth of 24,930 crores USD.
He is an entrepreneur, computer engineer, investor, and commercial astronaut, born in New Mexico in the year 1964. Jeff Bezos is the founder of our beloved Amazon. The name that brought a revolution in the electronic commerce industry.
Jeff Bezos has been the CEO of Amazon from the beginning to the year 2021. Now, he is the executive chairman of Amazon. He also possesses his space company, Blue Origin. He made news all around the world for his trip to space in his company-built rocket.
He enjoyed the first rank in the list for around three years and was put back by Musk last year. He has a current net worth of 18,400 crores USD.
He has a major ownership share in Christian Dior that makes for most of his net worth. Other assets that contribute to his wealth include equity in Hermes, Moelis & Company, and cash.
The French tycoon has gained great popularity and earned a big place on the list. He has a current net worth of 18,960 crores USD.
He is a software developer, businessman, and author. He was born in the year 1955 in Seattle. He is the co-founder of Microsoft. It is the biggest software company in the world.
The company makes personal computers, phones, servers, software development tools, intelligent devices, and more. Bill apart from his business achievements, is a great philanthropist. He has helped a lot in the fight against Ebola, malaria, polio, and covid-19.
Besides his ownership share in Microsoft, his other huge net-worthy asset is Cascade Investment LLC. At present, Bill Gates has a net worth of 13,140 crores USD.
Lawrence Edward Page (Larry Page)
Larry Page | Richest People in the world
A person who has made people’s lives so convenient is Larry Page. He is a computer scientist and internet entrepreneur born in the year 1973 in Michigan, USA. He is popular for being the co-founder of Google.
Google is like a household name for the entire world. Over the years, it has acquired YouTube and Android. Last year it saw a fifty percent rise in its shares.
Larry became a multi-billionaire at the mere age of twenty-seven years. He has a keen interest in space and flying cars. Larry Page has invested in the related companies. Currently, he has a net worth of 11,670 crores USD.
Warren Edward Buffett (Warren Buffett)
Warren Buffett | Richest People in the world
He is a businessman and a keen investor born in Nebraska, the USA in 1930. Warren Buffett is the CEO of Berkshire Hathaway, a company that has its subsidiaries in insurance, energy generation, manufacturing, and many more.
Warren is famous for being a buy-and-hold investor who has made his huge wealth by gaining undervalued companies. Many books, movies, and documentaries have been made inspired by Buffett.
He is one of the best and most renowned investors of all time in the world. His current net worth stands at 11,380 crores USD.
Sergey Mikhaylovich Brin (Sergey Brin)
Sergey Brin | Richest People in the world
He is a computer scientist, businessman, and popular internet entrepreneur. He was born in Moscow, Russia in 1973. Sergey Brin is the man who co-founded Google with Larry.
Brin is no longer the president of Alphabet, the parent company of Google. But he continues to be a controlling shareholder and board member.
He stands two steps down his co-founder in the list with a net worth of 10,700 crores USD.
Lawrence Joseph Ellison (Larry Ellison)
Larry Ellison | Richest People in the world
He is a businessman, entrepreneur, and investor born in New York, the USA in 1944. Larry Ellison is popularly known as the co-founder and former CEO of the renowned software company, Oracle corporations.
The businessman serves as the chairman and Chief Technology Officer at Oracle. The company is the second-largest software company in the world. With time, they acquired many other companies in different fields.
Larry is also an equity holder in Tesla and has a net worth of 10,300 crores USD.
Steve Anthony Ballmer (Steve Ballmer)
He is a businessman and investor born in the year 1956, hailing from Michigan, USA. At present, he owns National Basketball Association’s Los Angeles Clippers. Steve Ballmer is also known to be famous for being the CEO of Microsoft for fourteen years.
He still is the biggest individual shareholder in Microsoft of 4%. He and Gates studied together at Harvard University.
This American businessman has made great progress over the year and has a net worth of 9,260 crores USD.
Mukesh Dhirubhai Ambani (Mukesh Ambani)
Mukesh Ambani | Richest People in the world
He is a popular billionaire businessman in India. He was born in Aden, Yemen in 1957 but was brought up in Mumbai, India. Mukesh Ambani is the Chairman and Managing Director of Reliance Industries, the company with the largest market value in India.
He dropped out of Stanford University to come back to India and work towards the expansion of Reliance. The company has indeed expanded to its great potential especially in retail and telecommunications under his direction.
Mukesh is the only Indian who stands among the top ten richest people in the world with a net worth of 9,160 crores USD.
Why does the Position of These People changes?
The position of these people on the list does not stay intact forever. It keeps on changing. The net worth of these people is not only because of themselves but also has the contribution of regular people.
A large amount of their wealth is in publicly traded stocks. The stock market as we know has its fair share of highs and lows. So, the changes in market valuations, and assets & liabilities lead to changes in the net worth of the richest people in the world.
Elon for example made it to the top because of the massive rise in share prices of Tesla. So, the share market plays a huge role in determining the position that a rich person holds.
Conclusion
The richest cream of people in the world plays a huge role in building the economy. These also act as role models for many people who wish to be like them one day. Their journeys consist of hard work, execution, an eye for opportunities, overcoming obstacles, and a non-give-up attitude.
The above-mentioned are the top 5 richest persons in the world. These men have created revolutions in their fields and made it to where they are today.
FAQs
Who are the top 5 richest people in the world?
The top 5 richest people in the world are:
Elon Musk
Jeff Bezos
Bernard Arnault
Bill Gates
Larry Page
What is the net worth of Elon Musk?
Elon Musk has a net worth of 249 Billion.
What is the net worth of Jeff Bezos?
Jeff Bezos has an estimated net worth of $184 billion.
Amazon, the company that started as an online retailer for books back in 1994 is now the largest e-commerce company in the world. As of January 07, 2022, the company is worth $1648.78 billion.
Today almost everyone depends on Amazon and with good reason. You can find almost everything you would ever need delivered right to your doorstep. So how did Amazon get where they are today?
Most importantly they’ve managed to stay at the top of the e-commerce business even with the rise of new competitors. To understand this growth and stability shown by the company, we’ll have to take a look at their history and analyze their biggest techniques that help them stay at the top.
Founder and former CEO of Amazon, Jeff Bezos financed Amazon with $10,000 of his own money to get the company up and going in 1994. Amazon at that time was completely operated by Bezos, his wife, and a small staff team working in his garage in Bellevue, Washington. Shortly after in 1997, Amazon went public with a $300 million valuation at $1.96 per share.
Jeff Bezos working from his office in 1999
Amazon later on in 1999, allowed third-party sellers to sell their products using their website. Since the company already had satisfactory growth in the online sphere, retailers started using the platform with the goals of expanding their public reach and economy. Just within 4 months of letting third-party companies sell, over 250,000 customers had bought goods from a variety of different companies through Amazon.
Every year Amazon has been getting better, offering more services and a better customer experience than before. In 2005, Amazon introduced its customer loyalty program known as prime. Prime gave users that extra fast delivery and service speed that they needed for a small monthly fee.
Prime also expanded on to provide media services such as prime movies, music and gaming. Customers were more than happy to pay the monthly subscription for what they would’ve otherwise missed. At least that’s how the consumer mentality boosted Amazon’s sales after it launched prime.
The very next year the company went ahead with Amazon Web Services(AWS) to consider and profit from the various cloud computing needs of the world.
Amazon has also been actively developing the Amazon Echo line of smart products along with their assistant Alexa. The company has been growing ever since. Every year new products get added to Amazon, which starts bringing in new customers for the company.
Amazon’s success isn’t just because of the risks they take or companies they endorse, rather it’s mostly due to some clever marketing techniques. Communicating a product’s nature and value to a customer is essential for a successful e-commerce store. Here we’ll go through some of the well-known pricing strategies used by Amazon to boost sales.
1. Prestige Pricing
Consumer stores and shopping centers often use charm pricing as a way to get more sales. It’s common to see the price of a product just a cent below its actual cost. Prices like $4.99 seem cheaper compared to $5 when the difference is almost negligible.
Prestige Pricing
Prestige pricing is the exact opposite of this methodology. While some people may find lower prices more attractive, others may doubt its value and authenticity due to its lower prices.
Prestige pricing is where the price of a commodity is rounded off to the nearest rounded figure so the price seems ideal. The higher and rounded prices make a product seem more valuable than it actually is.
Customers are more likely to buy a product that will provide them with more value for money. That’s exactly what gets companies like Amazon more sales using this pricing method.
2. Price Anchoring
If you’ve ever used Amazon you might have noticed how you ‘always’ seem to get a better deal. Simple comparative pricing makes consumers feel like they’re getting better offers when in reality it’s just a way to promote sales.
Price anchoring is a popular way of getting more sales. Several e-commerce stores including Amazon make use of a simple strikethrough price which enhances the value of the actual price.
Although price anchoring and price discounts are different, the technique has been effective in gaining sales as shown by e-commerce statistics. In the world of digital stores, a sale is equivalent to a customer’s click. Hence price anchoring makes good use of perception to increase sales.
3. Amazon Prime
In 2022, about 142.5 million of Amazon’s total users are members of its Prime program. Amazon Prime is a paid subscription-based customer loyalty program that Amazon offers. Since its introduction in 2005, the number of prime users has been increasing progressively.
Amazon Prime Users Growth in the U.S.
Having a prime membership makes a user eligible for certain perks from Amazon. For starters, customers with prime get faster deliveries, access to special sales earlier, and Amazon’s media and entertainment services such as Prime Video, Prime Music, and Prime Gaming.
Paying about ₹179 monthly gets you all these benefits and it’s no doubt why people prefer to subscribe to prime. The feeling of getting a higher priority and more gains is what prompts people to stay as prime users. Amazon Prime video generated $3.6 billion in revenue sharing in 2020.
4. Comparative\Decoy Pricing
Comparative pricing is a technique used to boost the sales of one product using a decoy product with alternative pricing. Let’s say you have a product that you’re interested in. If two products of similar nature are being presented, one with better overall value than the other, the choice is rather obvious. Comparative pricing is where a product is intentionally made to look bad to promote the sales of another product.
Decoy Pricing in effect
While the decoy product dips in sales, the targeted product gets more sales and that’s completely intentional. The goal here is to get the customers to choose the targeted product instead of the other.
5. Price Framing
Everyone in marketing knows that a good sales pitch means a positive impact on sales. Price framing is how a product’s price is presented to the customers. The visuals associated with price presentation and context matter because a customer often makes their decision at the last minute and what they see has to appeal to their mindset.
Simply adding additional text such as ‘only for’, ‘best deal’, ‘20% OFF’ makes the customer feel like they’re getting a bargain. E-commerce companies gain much more sales due to their marketing campaigns which use this method as well.
6. One Time Deals
Adding a time limit to deals and offers speeds up the decision-making process for customers and also makes products seem more valuable. Amazon has been offering limited-time deals for a while now and it’s common to see flash sales during festive seasons. Often these one-time deals aren’t much different from what you can get a product for, considering you have the patience to wait a while.
As far as most common products on an e-commerce platform are considered, the prices never really stay high for long. It’s only a matter of time before new products rise and the older prices dip. However, customers are tricked into thinking that the reduced prices are indeed a limited-time offer and hence Amazon make huge sales just by adding a timer with a lower price.
Amazon makes excellent use of modern-day technology and scientifically proven marketing techniques to always develop the perfect pricing to get sales going. It’s all about the customer mindset when it comes to e-commerce and that’s where the use of passively manipulative methods shines the most.
Not all of it is ethical, but the majority of applied techniques are rather intuitive and that is what keeps Amazon’s sales up high during the roughest of times.
FAQ
How does Amazon use psychology?
Decoy pricing, Price anchoring, Prestige pricing, and limited-time deals are some ways Amazon uses psychology to get you to buy more.
Why do Amazon prices keep changing?
Amazon keeps changing its prices according to trends and customer feedback.
How does Amazon use psychology to get you to buy more?
Amazon creates a sense of urgency by displaying the products left till it gets out of stock.
In the last few decades, online shopping has grabbed the full attention of everyone. It has become a part of our daily lives. From clothes to medicines, to groceries, there is hardly anything that cannot be brought from online. It is convenient, hassle-free and it saves time. Plus the pandemic accelerated the demand for shopping online; people find it safer especially during the period of lockdown.
Now when we purchase any goods they are delivered or shipped to the preferred place that we have mentioned while shopping online. There are different methods of shipping and E-commerce sites are adopting different models for their business. To deliver the products to their customers, a number of ways can be followed. In this article, we will talk about one of the methods which are known as Dropshipping. So, let’s take a look into it.
“Dropshipping is the entry point for a lot of people to business, E-commerce, and entrepreneurship. It’s the perfect first business.” –Lachlan Delchau-Jones
Dropshipping is a way of selling and delivering products to your customers without managing, and shipping the goods. Here you contact the supplier and let them deliver the product to your customer.
Basically, your website is like the intermediary, from where the customer chooses the product and then you forward the request to the supplier of the product who will ship it to the customer.
You don’t have to manufacture, store or ship the product themselves, dropshipping is free from all these steps all you have to do is to find the perfect dropshipping supplier for the job. It is quite a good option for those who want to start an E-commerce startup. It is said to be one of the most profitable models in the E-commerce industry.
The history of Dropshipping actually goes back to the days of the 60s and 70s, way before the internet was developed. During that time, when mails were delivered to the people, small booklets or catalogues were present along with them, with the help of that, one could place the order for their desired product from the catalogue through telephone and then the order was delivered to them at their doorstep.
Sears Catalogue
Amazon and eBay then changed the way people used to sell products online. People who want to sell their products could just place them on the sites and let the E-commerce sites drive the traffic towards that product.
Currently, sites just need to find the supplier for the product who does the remaining job for them. Aliexpress and Shopify are some of the websites that made starting an E-commerce business easier as manufacturers and dropshippers are easy to find here.
How Dropshipping Works?
If you want to start an E-commerce site, dropshipping is one of the best options for you. Below are the steps on how it actually works.
The first and foremost thing that one has to do is select the proper supplier.
The second step is to connect the supplier’s app to your online website.
Select the products that you want to sell to your customers.
Set a price strategy for you dropshipping model of your business.
Accept the orders from your customers.
The orders of the customers then are forwarded to the supplier. And you have to pay them for that order.
The suppliers then deliver the products to the doorstep of your customers.
Advantages of Dropshipping
Some of the advantages one get to enjoy if they chose to dropship are:
E-commerce business that follows the dropshipping model doesn’t need a large amount of capital for their business. They don’t need to pre-purchase the products. So comparatively, it needs less capital.
No need for a warehouse, where you have to store the products. The suppliers are the one who takes care of the product by storing them. Therefore, you can select whatever product you this is appropriate for your business.
As the whole shipping process of the products is handled by your supplier, you can do your business from any part of the world.
You can try to sell any kind of product on your website and if it is not bringing any profit, then you can quickly drop it from the list of your website.
Disadvantages of Dropshipping
Some of the disadvantages of the dropshipping model are:
You don’t know what kind of quality your product will be. A bad quality product may cause uproar and can be bad for your business.
You don’t have any control over the time the supplier takes while shipping the product to your customer.
While serving the customer, difficulties may arise, if there is a problem in communication with your supplier.
Dropshipping can be expensive as well, the market is quite competitive and if research is not done properly, then you might see other sites dropshipping the products at a much lesser cost.
Future of Dropshipping
In the past few years in the E-commerce business, there is an increase of business sites adapting to dropshipping model and in the future, it is only going to increase. Dropshipping can only be a profitable model for your business if you play all your cards properly and follow all the strategies carefully. For example, you have to be careful while selecting the dropshipping company for your business, proper research has to be done and then you can follow your plan.
E-commerce sites if planned accordingly and follow this model properly will turn into a high return business and will be a source of great profit.
For startups that are interested to try their hand at E-commerce, the dropshipping model is quite a good option for them. With more and more startups emerging, it is just a matter of time before people will realize the model’s importance and need in their E-Commerce business.
FAQ
Does Dropshipping have a Future?
Yes, dropshipping can easily turn into a profitable model for E-commerce sites as the model is a low-risk one.
How did dropshipping start?
Dropshipping started in the 60s and 70s when people used to receive catalogues by mails and could order items directly from the catalogue via phone, and have the company deliver them.
Who is the most successful dropshipper?
One of the most successful dropshipper is Irwin Dominguez. In just eight months, he made one million dollars worth of sales.
With the developing technology and resources, numerous companies have been established with the belief of achieving great heights. And these companies are the biggest source of proving employment to the general public. You wouldn’t believe that companies like Walmart and Amazon have employees over the count of millions. Like, how great is that! However, private sector companies are often considered pretty complicated and tough. They lack job security and some do pay little. But, these don’t define every private organisation across the world.
In fact, there are private companies that have millions of employees with tons of benefits. And these companies are the biggest job creators across the world. Speaking of which, we have presented the World’s Top Companies With the Largest Number Of Employees. So, let’s get started!
With a total number of employees of 2.3 million, Walmart is the second company with the largest number of employees. Walmart is in fact counted highest among the Forbes 500 global ranking. Being the largest company with an annual turnover of $559 billion, Walmart owns numerous subsidiaries as well in the United Kingdom and South Africa’s supermarkets.
Amazon
Total Number of Employees: 1.4 million
Amazon Logo
The biggest online retailer, Amazon has around 1.4 million employees. Amazon is currently ranked 5th among the largest employers in the world. In the last two years, the company has gained a massive amount of employees from all across the world. This simply indicates that Amazon hires 1,400 people every day.
Volkswagen
Total Number of Employees: 662,653
Volkswagen Logo
Volkswagen, the largest automobile manufacturer in the world, has an employee count of 662,653. Being a German car manufacturing company, Volkswagen holds a market capitalisation of $123.24 billion, being the 112th most valuable company, in terms of market capitalization. In fact, Volkswagen is considered the most active and superior automobile manufacturer and employer.
China’s National Petroleum Corporation
Total Number of Employees: 460,724
CNPC Logo
Being mainly a monopoly in the oil and gas production of China, China’s National Petroleum Corporation has an employee count of 460,724. It runs with rigs and refiners in over 30 countries such as Venezuela, Azerbaijan, and many others.
Kroger
Total Number of Employees: 465,000
Kroger Logo
With a total number of employees over 465,000 Kroger is counted among the biggest retailers chain in America and third in the country, right after Walmart and Costco. Kroger has around 2,778 supermarkets and departmental stores.
China Construction Bank
Total Number of Employees: 345,971
China Construction Bank Logo
Based on the market capitalization, China Construction Bank is the second-biggest bank in China and fifth in the world. With an employee count of 345,971, China Construction Bank has expanded its branches in more than 13,600 places in china.
McDonald’s
Total Number of Employees: 200,000
McDonald’s Logo
McDonald’s is incredibly famous for its delicious fast food and has several employees of 200,000 all across the globe. This simply brings McDonald’s among the largest employers in the world. And when it’s McDonald’s, who doesn’t know hamburgers!! The company has its classic presence in more than 100 countries and serves around 69 million food items every day.
In conclusion, we can say that private sector companies are the largest source of employment all across the world. Although a large proportion of people are employed in private organisations. But companies like the United States Department of Defense and China People’s Liberation Army and many others provide employment with tons of benefits as well. So, here were the top companies with the largest number of employees across the world. Stay tuned for more updates!
FAQ
Who is the largest employer in the world?
Walmart is the largest employer in the world with approx 2 million employees.
Who is the largest employer in India?
Indian Railways is the largest employer in India with 1.4 million employees.
Who is the best employer in India?
Reliance Industries is considered the best employer in India.
Amazon is well-known, and almost everyone has used it to buy or sell something. When Jeff founded this company in 1994, it was just another online book seller, but it quickly grew into an e-commerce behemoth that has dominated the market ever since.
Amazon has a wide range of things to choose from as well as a number of other services such as Prime videos, Audible, and others. The majority of people sell and purchase on Amazon, however there are many unknown truths regarding the corporation that few people are aware of.
Amazon had a different name when it first started back in 1994
Generally, people don’t know about this fact but when Amazon originally began in 1994, it was known by a different name. It was named Cadabra like the magic term “abracadabra.” However, Jeff Bezos‘ lawyer said that the magic connection was too vague and that “Cadabra” may be misconstrued for “cadaver” when spoken aloud. They eventually settled on the name Amazon, which is a tribute to a river in South America. The concept seemed to be that, like the world’s biggest river, their book range would be enormous and diverse.
Warehouse Tours Are Available on Amazon
Despite the fact that an Amazon Fulfillment Center may not appear to be a popular tourist attraction, the corporation is nonetheless offering the option. At least 23 warehouses in the United States and Canada are one of the global locations open to the public on specific days each month.
The tour lasts approximately an hour and gives visitors a look at the computerized sorting system that sends goods out the door, probably with air conditioners. In 2011, the firm was chastised for running warehouses at temperatures above 100 degrees and parked ambulances outside to treat heatstroke sufferers.
Amazon Bought a Robotics Business in 2012
Kiva Systems acquired by Amazon | Amazon Robotics
Kiva Systems was purchased by Amazon for $775 million. This small robotics firm provided its new owner with mobile robots that were designed to transport item racks from worker to worker and scan barcodes on the surface for guidance. Amazon received an army of robots custom-built to whizz around buildings and fulfil shipping demands at breakneck speed as part of the agreement.
Kiva had committed to maintain distributing its technology to other suppliers even as an Amazon subsidiary. But it didn’t pan out that way: Amazon renamed Kiva to Amazon Robotics in the spring of 2015. Other shops interested in leveraging Amazon’s robot army should let Amazon Robotics and Amazon Services complete their orders using Amazon robots in Amazon facilities, according to the company.
Amazon is the second business to achieve $1 trillion in market capitalization
Among the most fascinating statistics about Amazon is that it is only the second firm in history to reach $1 trillion in revenue. Given that Amazon earns 49 cents for every dollar bought online in the United States, this is unsurprising. In 2018, Apple became the first firm to hit the $1 trillion mark.
After it was discovered that Amazon Japan dealt in meat items derived from whales and dolphins, including certain endangered species, environmental activists launched an email campaign against the retailer in 2012. Amazon’s virtual shelves were emptied of more than 100 items, including canned whale flesh and whale jerky.
Danbo, Amazon Japan’s unofficial sentient shipping box mascot, is so beloved that Danbo toys and other items are widely available, as are memes portraying him in various situations. Danbo (which translates to “corrugated cardboard”), on the other hand, started in the pages of manga artist Kiyohiko Azuma’s work and has no apparent connections to the corporation, though they don’t appear to care.
Tiny Houses Are For Sale on Amazon
Are you looking for a new place to live? On the site, you can purchase a home. Amazon sells home kits with a 20-foot by 40-foot living space, a kitchen, and a bathroom for roughly $26,000. But, if you want to transform it from a gimmick to a habitable space, that amount isn’t all-inclusive. Before it becomes a permanent residence to which Amazon deliveries may be delivered, you’ll need to pay for plumbing, electrical installation, and other essentials.
Amazon Will Pay Employees To Leave The Company
Amazon introduced a “Pay to Quit” program in 2014 with the goal of reducing the number of unmotivated warehouse workers at its fulfilment sites. If a person resigns, they will receive anything from $2000 to $5000, depending on how long they have worked there. (Employees must have been with the company for at least a year.) What’s the catch? You will never work for the company again if you accept the money. Only about 10% of the first wave of employees who were offered the deal took it.
The Amazon Corporate Lobby Has a Giant Cave Bear
Once Amazon started experimenting with an eBay-style auction mechanism, Bezos made a huge purchase: he paid $40,000 for a complete Ice Age cave bear skeleton. The colossal creature now stands in the entryway of the company’s Seattle headquarters.
Nintendo Switch Was The Top Searched Item on Amazon in 2020
As per statistics, 66% in the United States begin their purchase search on Amazon. Because we’re dealing with a big number of queries, we may gain information into user behavior, including the most popular Amazon product. According to Amazon search statistics, the Nintendo Switch was the most sought item in the United States, with over one million searches per month. With 892,000 searches, a laptop came in second, followed by AirPods with 693,000 searches. The spike in interest of the Nintendo Switch, which resulted in doubling sales in March 2020 compared to the same period in 2019, is most likely to blame for a large number of Nintendo Switch searches.
Conclusion
Over the years, Amazon has made enormous strides. It began by focusing solely on the sale of books. According to Amazon statistics, the corporation is still one of the largest merchants of all time. As a result, as more individuals engage in online shopping, its rise is projected to continue in the future.
FAQs
Who is the CEO of Amazon?
Andy Jassy is the CEO of Amazon since 5 July 2021.
How does Amazon make profit?
Amazon makes money through its retail, subscriptions, and web services, among other channels.
Who runs Amazon India?
Amit Agarwal is the Global Sr.VP and Country Head at Amazon India.
What was the first product sold by Amazon?
Amazon opened as an online bookseller and Books were the first product to be sold by Amazon.
Invention upgrades human life and makes it more comfortable. As the patenting methods are getting easier day by day, many people are coming to patent their innovations. In the US, they register more than 2 million patents in a year. Patent officials say that almost everything is invented. This statement will be further proved when you will see the different Crazy patents done by companies. Some of these will delight you while some of them are completely useless.
In this article, we will be looking at some of the craziest patents done by companies. If you are in the process of ideating any innovation these patents will also fuel your imagination and help you make unique ideation. The patents have come from companies like Apple, Amazon, Google, and many other tech companies. These patents will help you think out of the box. So without any further ado, let me talk about the various patents by the companies.
Here are some of the smart to crazy patents. A lot of them will actually lead you to think in a completely different way. These patents if successful will revolutionize their particular sector.
Amazon has designed a special kind of blimp-based delivery system. They would use this blimp-like drone to distribute Amazon packages. This drone operates in a unique way. It has many mini drones within it. When the delivery spot arrives, a number of mini-drones will come out carrying the goods with them and delivering them to their place. They will directly deliver it to the customer in case they are delivering it at a great event like a football match. This is a unique innovation that will redefine logistics and the supply chain of Amazon.
Motorola Neck Tattoo
Motorola Neck Tattoo
Motorola has patented a neck-based tattoo by which you can communicate to your phone. This is a temporary tattoo through which you can do all the functions in the phone. It can also be used as a lie detector. The tattoo has a mic and has a power source attached to it.
Apple Smart bike
Apple is not only planning to design different iPhones and iPads. Apple has patented a smart bike. This smart bike has several features as it can communicate with other bikes. They can share things like speed, velocity distance traveled, heart rate, etc with the other bike.
Weather triggered ads by Google
Weather Triggered Ads by Google
Google in 2012 developed a unique technology called weather-triggered ads. In this Google will be able to detect the weather of a place and then go on to advertise suitable products immediately. This can be a great way to improve sales as they are selling those things which you need at that time.
Amazon Search Drone
Amazon Drone
Amazon has designed a special drone that can help search a child. This drone is voice-operated and acts as an aerial voice assistant. There are a series of special commands which help you to search for somebody. Apart from that, this has many other utilities as well. It can also be used by traffic police for recording details of any car.
Google Restaurant bill splitting software
Google Restaurant Bill Splitting
It is a shared experience that when you go to a restaurant, every other friend has an excuse for not paying the money. At the end of the day, you end up paying the bill thinking that the rest of them will pay the money back. But sometimes they forget to pay you. So Google has come up with an innovative restaurant bill splitting software that splits the bill amongst your friends.
Microsoft Augmented Reality Item finder
Microsoft AR Item Finder
Microsoft has devised an Augmented Reality item finder that can help you find any missing item. This device keeps a track of the things which you are using. If you have forgotten some item which you were using then this device will help you find it back. They use the Microsoft Holo lens in this device and it identifies and records the items you are using. It also somewhat tracks its movement. Next, you lost something, it will tell you where you put that thing last and will take you to this place.
Apple Spiral Glass Staircases
Apple Spiral Glass Staircase
Apple has designed and patented a glass staircase that can be used in any restaurant and hotel. This is a very common architecture structure but Apple has its own modifications in it. They patented their spiral form of the glass staircase in 2013. This was a more improved version of the previous patent. It was first put up in their Shanghai store.
Amazon Beehive like Tower
Amazon Beehive Tower
Amazon has patented a beehive-like Tower that can store and dispatch in a proper way. This is a very smart tower that can store items, sort strategically, and ship it. There are also drones that take the product and deliver them to their required destination.
Google Comic Patent for Social Media
Google has come up with comic-based social status sharing. In the olden days, we were sharing photos and videos of our present day. With the Google comic strip, we can share a cartoon that would tell about our current status. In this, the software would suggest an animation character that would be similar to the status you want to share. Now the user can also alter the comic and share it accordingly. Google patented this product in the year 2013.
Conclusion
These were some of the crazy patents done by companies. Hope you enjoyed reading through these unconventional inventions. As you must have also noticed that every innovation is very simple but the impact is huge. Now if you are also ideating something, you can definitely improve on it by taking ideas from here. Hope you are happy with the information you got from the article.
FAQ
Which company has filed the most patents?
Sony, Qualcomm, Amazon and BOE Technology are some of the companies that have filed the most patents in 2020.
What is the most valuable patent of all time?
The patent for the telephone was the most valuable patent of all time.
Why are there so many weird tech patents?
Companies file for patents to keep your competitors from developing something more than a way to make sure that companies can develop the particular product.
These are the words of the richest man on earth, the founder of Amazon, Jeff Bezos. He loves failure, because he knows very well that the only way to success is through failures. That is why he didn’t mourn the failure of the earlier launched innovation Fire phone. The phone failed deliberately but it wasn’t something that can move the roots of Jeff. He is not one of the easily shaken souls. Here in this article we will articulate the story and learn about the whole episode.
“We are working on much bigger failures right now” – Jeff Bezos
You must be living under a rock if you don’t know what Amazon is. Amazon is the world’s biggest E-commerce platform founded by Jeff Bezos. It also focuses on cloud computing, Artificial Intelligence and digital streaming. It quite literally covers the whole world, by the enormous impact it creates.
How was the Fire Phone Idea ignited ?
Can you tell which is the most famous device to read books digitally ? Well, if your answer is ‘Kindle’ then you are right. Kindle is the brainchild of Amazon and essentially a brainchild of Bezos.
As you may already know, Amazon was built on the foundation of selling books online. In further that direction, Jeff innovated and anticipated digital reading that led to Kindle.
Just after witnessing the popularity of Kindle, Jeff decided to disrupt another segment, known as the smartphones. The entrepreneur decided to make a phone that will disrupt the market with its specificities.
On June 18, 2014 the Fire Phone was unveiled for the first time to the public. At the first glance it really looked like any other phone in 2014. So the physicality of that phone was not much of a show starter. However the cool thing was the experience that the phone provided.
What made Fire Phone unique from normal phones
Fire OS
Fire Phone – Fire OS
An operating system free of the Google elements, that’s unique. The reason behind this uniqueness is that we all know Google dominates the android market in the world. Amazon did something different with that, it tried to make its own OS, a redesigned app tray, settings, framework everything new. A new app store, a new UI, to match the new elements of the Fire Phone.
Dynamic perspective
Fire Phone – Dynamic Perspective
This is the biggest “flex” that the phone showcased. Fire phone can be said to be the first phone with a dynamic perspective. Amazon can be said to be the first brand to scale it. The phone had depth, that means you can actually tilt the phone left to right and see the sides of apps, maps, images etc. That can even be used as a gesture to move through book pages or any list.
This was the innovation that Jeff wanted to present to the world. A new way to navigate through your phone. This was the creative challenge that Jeff posed in front of the engineers.
The basis of this dynamic effect was that it used the phone camera to constantly track the user’s head to tilt the screen according to the head angle. As some people opposed questions on its practical uses, This was seen as such a unique innovation.
Firefly
Fire Phone Firefly
The scan and search anything option was another bright LED to the belt. Amazon added this feature to strike a tough competition to the other smartphones. The Firefly option is a feature that you can use to scan and search almost any item with your camera.
Some people argued that this was an amazon promotional feature and to be honest, it was. More than that it was one of the uniqueness that the phone entailed.
Amazon didn’t released the sales figures for any of its devices, but based in part on its quickly declining prices, it announced a $170 million write-down; analysts have judged it having not been commercially successful. Amazon ceased production of the Fire Phone in August 2015 and discontinued sales soon after.
Why does Jeff Bezos consider Fire Phone Failure a good thing?
“If you think that’s a big failure, we’re working on much bigger failures right now — and I am not kidding,” he said. “Some of them are going to make the Fire Phone look like a tiny little blip.”
All these words show the bright and healthy innovation potential that Amazon has in store. Jeff has such a positive outlook towards even a big failure like this. He says that a small amount of win pays for all the losses.
Jeff is famous for his attitude that he showcases even in adverse situations. What really matters for people is to experiment and embrace failures. This mental model goes well with corporations too.
Companies who fear failure do not go much ahead in the world. It is with the positive outlook towards a failure what makes it a stepping stone for growth or success. Jeff does this thing well.
He has nearly created billions of dollars of failures within Amazon, None of them matters to him. He says experimenting runs through Amazon’s veins and it is quite evident with his views and his past experiment’s track records.
Conclusion
If we talk about Jeff Bezos for more than five minutes, we all will feel motivated and this article will turn into a motivational speech. The reason is simple because of the wonderful personality that the person has, or gained through years of hard work.
It is not just some sort of being at the right moment at the right time, It is more than that. If you have read the article with your full consciousness then the secret would have unfolded in front of your eyes.
Speaking of the Fire phone, it was truly a fire. Many people argue that the phone could have been an app because customers would be comfortable interacting with that. Whatever it was, we can largely see it as an experiment that came out of Jeff’s brain and failed which truly didn’t matter.
The Fire phone flight ended with losses of dollars and earnings of smartphone knowledge. The world is always witnessing such flights and failures but all it takes into account is the try.
FAQ
What are the key characteristics of Jeff Bezos?
Jeff Bezos is a Big Thinker, He has very high standards, he is Strategically Patient and is an Amazing Learner.
Has Jeff Bezos had any failures?
Yes, Jeff Bezos has faced many failures from which the biggest failure is the Fire phone.
How did Jeff Bezos start Amazon?
Jeff Bezos began developing the software for the site, which he called Amazon.com. It sold its first book in 1995.
