Tag: jeff bezos

Amazon Business Model: How Amazon Generates Revenue
In recent years, Amazon has become a household name, whether it’s because of its unlimited options for selection, custom-made services, cheaper prices, customer services, or good quality search tool that helps in finding items of one’s choice. Amazon is a US-based multinational e-commerce company that focuses on e-commerce, digital streaming, artificial intelligence, and cloud computing. Amazon is now the world’s largest online retailer and has also been referred to as the world’s most valuable brand.

Amazon was founded by Jeff Bezos in 1994 and is headquartered in Seattle, Washington. The company started out as an online marketplace for books but went on to expand its market to selling electronics, music CDs and DVDs, tools, toys, software, video games, apparel, furniture, baby products, sporting goods, beauty products, clothing, and jewellery, among others.

Amazon is considered to be one of the big five companies in the US information technology industry, along with companies like Google, Facebook, Microsoft, and Apple. Amazon went on to surpass Walmart as the most valuable retailer in the US by market capitalization in 2015. Amazon Prime, had surpassed more than 200 million subscribers worldwide as of 2024.
The Business Model of Amazon

Amazon has a well-known diversified business model. According to the annual report as of 2024, the company recorded net sales of over $638.0 billion and a net profit of over $59.248 billion. Amazon’s business model is an Ecommerce model, but over the years, it has made acquisitions and created a portfolio of business models and revenue streams. However, the biggest proportion of sales, which is fifty percent, came from their online marketplace.

The rest comes from the physical stores, Amazon AWS, subscription services to their apps, third-party seller services, and lastly, advertising revenues. Amazon Prime, which is a subscription-based service, plays an important role in the business model, as it gets the company more loyal customers who are willing to spend more for their services. Amazon also has a cloud infrastructure called AWS, which yields high margins. Besides that, Amazon also has an advertising business, which is worth billions of dollars.

The Amazon Business Model Canvas

Amazon measures its success based on lower prices, reliable tech infrastructure, free cash flow generation, and customer experience obsession. The company’s service sales have been growing at a fast pace, helping the company to expand globally. Amazon had attracted over 3.25 billion visits in June 2024 worldwide, while people spend more than six minutes on the site looking at a minimum of nine pages in order to find what they are searching for.

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How Does Amazon Work?

Amazon runs a platform business model as the core with many other business units within the core model. Some units, such as Prime and the advertising business, are heavily linked to e-commerce platforms. For example, Prime helps reward Amazon customers, thus growing its platform business. Other units, such as AWS, helped improve Amazon’s technical infrastructure. Amazon sells a variety of its own products on the platform but also allows third-party sellers to sell to customers.

Here are some key milestones of Amazon:
1. 1995 – Amazon launched as an online bookstore.
2. 1997 – Became a publicly traded company.
3. 2005 – Launched Amazon Prime, offering fast delivery and other benefits.
4. 2006 – Introduced Amazon Web Services (AWS), now a leading cloud platform.
5. 2012 – Acquired Kiva Systems to automate warehouse operations.
6. 2015 – Celebrated 20 years with the first Prime Day sale.
7. 2018 – Reached $1 trillion in market valuation.
8. 2020 – Saw massive growth during the COVID-19 pandemic.
9. 2021 – Founder Jeff Bezos stepped down as CEO; Andy Jassy took over.
What Does Amazon Sell?

Currently, the platform offers products and services such as Amazon Prime Video, Amazon Music, Appstore for Android, Echo and Alexa, Fire tablets and TVs, Kindle e-readers and books, merchant products and seller products. Amazon’s target audience is customers who buy products and subscribe to its services. So vendors sell their products on the platform, and developers are focusing on using AWS technology for infrastructure, digital products, and services.

Revenue and services of Amazon

Key Elements of Model
- Consumers – Amazon has great customer service and makes sure that they serve their consumers through their online websites. The company focuses on selection, convenience, and price. The Amazon website is designed in such a way that customers can browse through dozens of product categories and access them conveniently on various gadgets. The company strives to offer its customers the lowest prices through everyday product pricing and shipping offers.
- Sellers –Amazon gives sellers the opportunity to grow their business, sell their products on websites, and fulfill orders through us. Amazon earns fixed fees, a percentage of sales, per-unit activity fees, interest, or some combination thereof for the seller’s programs.
- Developers and Enterprises – Amazon serves developers and enterprises of all sizes, which includes startups, academic institutions, and government agencies through their AWS segment, which promises to offer a broad set of global computing, storage, database, and other services.
- Content creators – Amazon also helps authors and independent publishers with Kindle Direct Publishing, an online service that allows independent authors and publishers to choose a 70% royalty option and make their books available in the Kindle Store. They also offer programs that will allow musicians, filmmakers, app developers, and authors to publish and sell their content.
- Amazon Advertising – Amazon Advertising provides sponsored ads and video options, making it a highly effective marketing channel, as users on the platform already have strong purchase intent.
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Amazon Revenue Model

With a market capitalization of $1.92 trillion as of April 2025, Amazon is currently one of the most valuable retailer in the world. Amazon’s online stores bring in high margins, while other parts of the Amazon business model, such as Amazon Advertising Services, Amazon Prime and Amazon AWS, run with much higher margins.

Thus, Amazon’s online stores are the foundation for other businesses that make the overall company more profitable in the long run. An important day for online sales is Prime Day, which has turned into a major shopping event comparable to Black Friday and Cyber Monday.

In 2024 Amazon Prime day generated over $14.20 billion which is a record high. The third-party seller is the company’s second-largest unit in terms of net sales. A key factor in the company’s success is its diversification into other areas.

How Amazon Makes Money

The revenue model of Amazon is primarily based on the commissions and fees it receives for matching borrowers and sellers. Amazon provides a marketplace that provides a standardized experience for both buyers and sellers. Amazon also derives a large portion of its revenue from affiliate programs in order to receive a large commission on their sales. The company also sells advertising space on its website so that vendors can increase their sales by advertising on the site. Amazon also makes a lot of money from the Kindle marketplace.

Andy Jassy: The CEO Shaping Amazon’s Future & Cloud Computing Empire | Biography | Career | Leadership style

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Amazon Revenue Streams
- Online stores – Includes product sales and digital media content where we record gross revenue. Amazon leverages our retail infrastructure to offer a wide selection of consumable and durable goods that include media products available in both physical and digital formats, such as books, videos, games, music, and software. Digital product subscriptions that provide unlimited viewing or usage rights are included in the Subscription Services.
- Physical stores – This includes product sales where our customers physically select items in a store. Online stores include sales to customers who order goods online for delivery or pick up from our physical stores.
- Third-party seller services – The Company receives a substantial portion of its revenue from third-party sellers, from commissions and any related fulfilment and shipping fees and other third-party seller services.
- Subscriptions – Amazon Prime membership comes with an annual and monthly fee. Amazon also offers subscription services for audiobooks, digital video services, digital music, eBooks, and other non-AWS services. Amazon’s standard Prime membership rate is $139 a year, which would translate into more than $25.21 billion in revenue, though the company offers discounted memberships for students and others.
- AWS – AWS includes global sales of computing, storage, database and other services.
- Other services – These include sales of advertising and marketing services.
List of Amazon Failed Products and Services | Amazon Failures

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The Value Proposition of Amazon

The value proposition provided by Amazon is actually quite simple: they offer the most convenient and widest range of products and services for the lowest prices. The prices of its products and services are so low that they have managed to displace Walmart, making the company the leader in the price category. While the goods and services are at the lowest prices, the quality of the products is not compromised in any way.

Amazon takes advantage of technology to get the lowest prices possible so that it doesn’t have to stock any kind of inventory. While other stores are burdened with spending money on stocking inventory, Amazon can cut out the competition on this one. It is a mix of a retail company and a technology company. Unlike retail companies, Amazon rarely hires stock clerks and floor managers and keeps employees with high technical skills.

Conclusion

Amazon is the face of the current market – global, digital, and ever-growing. It is a rapidly productive brand, adapting quickly to new demands in a fast, effective, and original way. For this reason, for now, even though it faces competition individually on all fronts, its corporate umbrella remains unique and, hence, should stay ahead in the coming years.

FAQ

When and by whom Amazon was founded?

Amazon was founded by Jeff Bezos in 1994.

How many business models does Amazon have?

Amazon has five main business models, an eCommerce, a Cloud Platform with AWS, runs subscriptions with Prime, third-party sellers and it also produces hardware products such as voice assistant, Alexa, the ebook reader Kindle, and more.

What business model does Amazon use?

Amazon uses a hybrid model: it sells products, lets others sell on its site, offers subscriptions like Prime, runs cloud services (AWS), earns from ads, and provides logistics and devices like Alexa.

Is Amazon a B2B or B2C?

Amazon is both a B2B and B2C company.

What is Amazon business model in India?

In India, Amazon follows a marketplace model, connecting buyers and sellers, offers Prime subscriptions, earns from ads, and provides logistics through Amazon Transportation and Fulfillment services.
April 11, 2025
The Ultimate List of Amazon Failed Products and Services
Naturally, one of the world’s largest and most influential firms would prefer to sweep any rare mistakes and misfires under the rug and claim they never occurred.

Amazon originally started when founder Jeff Bezos began selling ebooks from his basement in Washington. It is presently the world’s largest online marketplace. So, you can understand Jeff’s desire to focus on his company’s incredible triumph rather than explaining the occasional failure.

Jeff’s failings are treated with refreshing candor. He’s more than willing to discuss how he lost billions on failed business projects. It’s all part of his vast master plan, and he doesn’t think it’s a big deal to take large chances that sometimes backfire. And, as the firm expands, everything has to double, including the magnitude of your unsuccessful trials, according to him. You won’t be created at a scale that will genuinely shift the dial if the size of your flops doesn’t expand.

That’s great news since Amazon has had its fine dose of flops, turkeys, and wrecks over the years. But it’s nice to know that none of them is causing Jeff any sleepless nights. So, let’s look at Amazon failures with a list of failed products:
Amazon Fire Phone

Amazon Failed Products – Amazon Fire Phone

With the launching of a new smartphone, you’d expect that a firm like Amazon would be on relatively safe ground, given its popularity with Kindle gadgets, tablets, and streaming devices. This Fire phone seems to be the natural next step amid a flurry of marketing hoopla in 2014.

The new device is described by Jeff as “beautiful, elegant, and sophisticated.” The device’s four front cameras worked in tandem to offer a broader view, which was one of the phone’s best features. This effectively meant that the parallax effect was applied to your pics, giving them depth and a wonderful 3d feel.

So you could flaunt your plate of spaghetti bolognese at that hip new eatery. A similar approach might be used for Amazon products, enabling you to simulate that dazzling green mankini in spectacular 3d before making a purchase. Initially offered for $200 with a two-year contract. Sadly, it took several months for the rate to drop drastically to $0.99 cents, and Amazon still could transfer them.

Despite this, Amazon did not discreetly halt production, given the fact that the fire phone had shed 170 million dollars. So, what’s the issue? Well, Amazon stunned the industry by charging top-tier pricing for Kindle tablets and Fire TV. Amazon had built an image for offering top quality at cheap rates. Not only was it good, but it was also cost-effective.

The Fire phone’s upscale costs implied something was spectacular about Amazon’s new device, but there wasn’t; it looks tacky and a little unpleasant. Technically, the 3D stuff was great, but it was essentially a ploy. Amazon had arrived far too late to the game with an overpriced item that didn’t offer anything novel or beneficial, making Amazon Fire Phone one of the biggest failures of the company.

This time, there wasn’t such a blazing fire. It’s more of a smoldering ember.

Pets.com

Amazon Failed Products – Pets.com

Over the course of the year, Amazon has made several really smart investments, as well as a few bad ones. They poured money into the disastrous pets.com’s initial round of fundraising in 1999, yet only own 54% of the company. Simultaneously, the CEO of pets.com, Julie Wainwright, defined the corporate partnership as “a match made in heaven.” When the dot com bubble burst a year later in 2000, pets.com became the most well-known victim.

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Kozmo.com

In the same year, Amazon put nearly $60 million into kozmo.com, a promising internet endeavor. Free one-hour shipping of DVDs, games, and books was made available via bicycle, van, and, most likely, skateboard.

Business insiders cautioned from the outset that the free shipping model would never be economically feasible for the firm, and it appears that they were true, as Kozmo did ultimately try to charge shipping costs, but it was too late to cancel the firm from going bankrupt, taking Amazon’s $60 million worth with it.

Askville

Amazon Failed Products – Askville by Amazon

In 2006, Amazon released Askville.com, which was one of the oddest Amazon products. Perhaps the loss of the Kozmo hasn’t been thoroughly learned. This was a fresh collaboration with Kozmo co-founder Joseph Park, who had come up with a novel plan for a user-driven Q&A portal where users could pose and reply to pressing topics of the day.

The notion wasn’t entirely awful, and it’s a model that later evolved into flourishing groups on sites like Quora. However, the Askville method was a little cringe-worthy, as it assumed that the portal needed to be more than just faqs to retain users. They devised a fun gamification concept in which players win or lose XP points based on the merit of their responses. Players were also urged to acquire quest gold, which could be traded for Gift vouchers or Askville shop items.

Finally, the overly convoluted concept fizzled out, leaving the comment sections essentially blank and meaningless. “Why does Amazon continue sponsoring askville.com?” was one of the last comments made on the site before the forums were permanently shut.

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Amazon Kindle on iPhone

Say you’re using the Kindle app on your Android, and you’re in the middle of an Amazon-Apple verbal battle. You peruse a list of intriguing books. You finally make up your mind about which book you’ll read soon. You press the large, cheery buy now button, and the book is quickly installed on your phone. It’s that easy. That’s how apps were designed to work.

Now, imagine you’re on your iPhone, surfing the Kindle app. You peruse a list of enticing books. You finally decide which book to read next. You press the huge cheery buy now button and are forced to halt since you are unable to proceed. There’s no button because, in a bizarre twist of fate, you can’t buy books inside the iPhone version of the Kindle app.

The issue began when Apple demanded a 30% cut of all orders placed through its apps. Amazon was not pleased with this because they also required a part in writer earnings from each eBook sale, and paying Apple a 30% cut wasn’t gonna work. Sadly, the two business behemoths were unable to strike a deal.

Amazon attempted to avoid the app toll by embedding URLs to the Kindle app in their web-based Kindle store, ensuring that eBook purchases were not made inside the app.

When Apple tightened the regulations even more and disallowed external buy URLs, iPhone owners were put in the perplexing scenario of having to navigate and leave the app, seek the web edition of the shop, buy books, and then return to the app. On your iPhone, you can use the Amazon Kindle, which is insanely difficult and completely ludicrous.

However, given that the Kindle app was created to be a medium for acquiring and reading, the iPhone edition is among Amazon’s lengthiest flops, failing to meet half of its purpose.

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Amazon Destinations

Amazon Failed Products – Amazon Destinations

Well, here is a brief live experience on Amazon. There was a high chance of victory, but he was yanked so swiftly that they’d just lost out if he blinked. Amazon Destination was the firm’s foray into the hotel reservation business, enabling weekend breaks and utopian escapes at regularly quoted costs.

Their hotel partners were ecstatic with the latest arrangement, noting a spike in traffic and reservations after using Amazon’s novel tool. The pricing wasn’t precisely bargained, but the notion was that Amazon’s massive internet persona might help place regular hotel ads in front of a far wider public than ever.

Widely expected to be a big leader in the OTA business, Amazon appeared to be on the correct path with this latest product but then abruptly disappeared from the web a few months later, like it took a tragic trip into the Bermuda Triangle.

Nobody knows why Amazon has been unusually quiet on the topic. We can surmise that Amazon’s new business was harmed by the rising presence of other key OTAs like Expedia. Some corporate analysts claim that a highly effective operator must devote their entire attention to the offering rather than being one of several other goods offered by the firm.

We’ll never know why Amazon destinations tend to drop so soon because Amazon hasn’t disclosed the numbers from this failed idea. One should probably post a query on Askville.com.

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Amazon Local

Amazon Failed Products – Amazon Local

In 2011, Amazon developed a portal for localized discounts. The design was identical to Groupon and LivingSocial, both of which have struggled. Amazon stated in October that Amazon Local would close down on December 18th, 2015. It is one of the most disastrous failed Amazon products, highlighting the challenges companies may face when introducing new innovations to the market.

Amazon Wallet

Amazon shut down its digital wallet just six months after it was released in the spring of 2015. Users could save vouchers and loyalty cards on their phones to pay for in-store and e-shopping, but credit/ debit cards were not supported. Amazon still accepts electronic purchases through Pay with Amazon, but unlike Apple and Google, it doesn’t offer a user-facing wallet. This closure marked one of the notable failed Amazon products in the company’s history.

Amazon Local Register

Amazon Failed Products – Amazon Local Register

Local Register was a new effort to assist local shops in accepting payments via a smart card processing system. It was similar to Square’s and PayPal‘s, but it never gained traction, and Amazon announced in February 2016 that it would be discontinued.

TestDrive

Amazon Failed Products – Amazon Test Drive

This service was launched in 2011 and allows customers to try new apps before acquiring them from the Amazon App. The initiative was shuttered by Amazon in April, claiming a drop in demand and the recent surge of the “free to play” biz paradigm. This move marked one of the instances where Amazon fails to sustain a service due to shifting market trends and customer preferences.

Music Importer

Amazon Failed Products – Amazon Music Importer

In 2012, Amazon introduced the Music Importer, which allowed customers to import any tracks they’ve saved to their PC and build an online collection. However, Amazon then developed Prime Music, a similar-to-Spotify-and-Pandora-style streaming site that rendered Music Importer outdated. In October, Amazon notified the end of Music Importer.

Crucible

Amazon Failed Products – Crucible

Crucible was a free-to-play team-based shooter game developed and published by Amazon Game Studios. It was officially launched on May 20, 2020. It was Amazon’s first major original title published by their gaming division, which had previously focused on tablet games.

Several factors contributed to the failure of Crucible. Firstly, the game faced criticism for its lack of originality and failure to stand out in the competitive online gaming market. The gameplay mechanics were not well-received, and the game struggled to find its target audience. Additionally, technical issues and a lack of polish further hindered the player experience. The decision to revert the game to closed beta shortly after its initial release and ultimately discontinue it in November 2020 indicated that Amazon acknowledged the challenges and limitations of Crucible and chose to shift its focus elsewhere in the gaming industry.

Amazon Spark

Amazon Failed Products – Amazon Spark

Amazon Spark was a feature within the Amazon mobile app that allowed users to discover and shop for products through photos shared by other users. It was essentially a social shopping platform where customers could post pictures, write reviews, and engage with others in a social feed. It was launched in 2017 to replicate the influencer-driven social commerce experience of platforms like Instagram and Pinterest.

Spark failed to gain significant traction and was eventually shut down in 2019 due to a combination of factors: lack of authenticity, poor integration, limited reach, inadequate moderation, and a changing social media landscape. Amazon’s attempt to create a social media platform specifically for Prime members fell short due to its inauthenticity, poor integration with the overall Amazon shopping experience, limited reach to non-Prime members, ineffective moderation, and the rise of short-form video platforms that shifted user attention away from static image-based social commerce.

Amazon Restaurants

Amazon Failed Products – Amazon Restaurants

Amazon Restaurants was a food delivery service offered by Amazon. It allowed customers to order food from local restaurants through the Amazon website or mobile app, and the service would facilitate the delivery. It was launched in 2015 in Seattle and gradually expanded to other cities in the United States and internationally. The service aimed to leverage Amazon’s vast logistics network and customer base to compete with other popular food delivery platforms.

Amazon Restaurants ceased operations in the United States in June 2019. The decision to shut down the service was attributed to intense competition in the food delivery industry, where other established players like Uber Eats, DoorDash, and Grubhub dominated the market with a 75% share of the US online delivery market. Amazon did offer free delivery to Prime members and a selection of 200 dining establishments, but this was not enough of a competitive advantage. Amazon likely found it challenging to capture a significant market share and achieve sustainable profitability in the face of such competition.

Amazon WebPay

Amazon WebPay was a free-to-use online payment service launched by Amazon in 2007. It allowed users to send and receive money from friends and family, pay bills, and make online purchases. WebPay was designed to compete with other online payment services such as PayPal and Google Checkout. Amazon invested an estimated $10 million in WebPay in its first year of operation. The company hoped the service would attract new customers to its website and increase its share of the online payment market.

Despite Amazon’s backing, Amazon WebPay failed to gain traction in the competitive online payment market. The service’s high fees, limited features, poor marketing, and inability to keep up with the evolving industry landscape all contributed to its downfall. It failed to address customers’ requirements better than other services. In 2014, Amazon announced the closure of WebPay, acknowledging the challenges of competing in a crowded market and the importance of differentiation.

Amazon Dash Button

Amazon Failed Products – Amazon Dash Button

Amazon Dash Button was a physical, Wi-Fi-enabled device launched in March 2015 that allowed users to reorder specific products with the push of a button. Each button was associated with a particular product, such as laundry detergent or pet food. When pressed, the Dash Button would order that specific item through the user’s Amazon account.

Numerous issues resulted in the discontinuance of the Amazon Dash Buttons. Vice President of Amazon Daniel Rausch agreed that the idea of physical buttons for reordering was a terrific first step toward the linked home but that having more than 500 buttons for different things created an enormous obstacle. The physical buttons became redundant when the Amazon Prime app introduced Virtual Dash buttons as a more convenient option. Appliance manufacturers incorporated automated replenishment systems through the Dash Replenishment Service, which removed the requirement for manual ordering. The final factor contributing to Dash Buttons’ demise was Amazon’s Subscribe and Save program, which offered discounted recurring monthly deliveries. Consequently, in February 2019, Amazon formally terminated the Dash Button program.

Amazon Tap

Amazon Failed Products – Amazon Tap

Amazon Tap, launched in 2016, was a portable Bluetooth speaker with Alexa, requiring a tap to activate. Despite standard features like Wi-Fi and USB charging, it failed to gain popularity due to the lack of hands-free voice activation. Competing in a tough Bluetooth speaker market, users preferred other options for better sound quality. By 2018, Amazon discontinued the Tap, focusing instead on its successful “Alexa Everywhere” strategy, expanding Alexa beyond speakers. Meanwhile, the Echo Dot thrived, becoming Amazon’s best-selling product in 2019, while the Tap never saw a second generation.

Amazon Cloud Player

Amazon Failed Products – Amazon Cloud Player

Amazon Music Importer, launched in 2012, let users upload and stream music from the Amazon Cloud Player with 5GB of free storage. However, by 2015, streaming services like Spotify and Apple Music had taken over, reducing the need for MP3 collections. Amazon shut down Music Importer as users shifted to streaming, and its features were already integrated into the Amazon Music app, making it redundant.

Conclusion

The real kicker is that Amazon is indeed bracing for more setbacks ahead. Jeff seemed to like the prospect of losing large sums. “If you feel that’s a significant failure, we’re planning on even greater setbacks presently, and I’m not joking,” he said when questioned about the Fire phone screwup.

In the latest shareholder letter, Jeff mentioned that if Amazon periodically experiences mega-dollar fails, the company will explore the ideal scale for a firm of its size, emphasizing the need to learn from and navigate through any Amazon fails. Of course, such tests will not be undertaken lightly. We’ll try to place smart bets, but not all will pay off. Amazon product failures highlight how even major companies can struggle with innovation, as some products fail to meet user expectations or adapt to market changes.

I’m excited to see what incredibly amazing Amazon failures the company encounters in the next few years, as it will provide me with more content to blog about and analyze.

That’s all, folks, for today.

FAQs

What failures did Amazon endure?

Amazon Fire Phone, Pets.com, Askville, and Amazon Destinations are some of the biggest product failures of Amazon.

What year was Amazon founded?

Jeff Bezos founded Amazon in 1994.

Who is the owner of Amazon?

Jeff Bezos is the founder and former CEO of Amazon; he founded Amazon in 1994.

What is Jeff Bezos’s response to the failure of products?

Jeff Bezos responded that they are bracing for more setbacks ahead when questioned about the Fire phone screwup.

What are Amazon CEO notable failures?

Amazon CEOs have faced notable failures, including the Fire Phone, which failed due to poor sales, and the Amazon Tap, which lacked hands-free voice activation. Other missteps include the shutdown of Amazon Restaurants and the discontinuation of Dash Buttons, showing that even tech giants face challenges in innovation.

Why did Amazon Fire Phone fail?

One of the reasons Amazon Fire Phone failed is Amazon arrived far too late to the game with an overpriced item that didn’t offer anything novel or beneficial.
March 21, 2025
Amazon vs. Walmart: Retail’s Ultimate Showdown

These are the world’s top two retail giants, competing for the same customer base. These two are the market leaders who set operating standards for other big box stores and online retailers. Amazon and Walmart make for an interesting study as they operate within the same retail space, sell to the same customer base, and boast a wide product repertoire.

Origins & Expansions
Comparison Between the Two Giants

Origins & Expansions

Amazon.com, Inc.

Operating in the global space of e-commerce, cloud computing, and digital streaming, the American multinational technology company was founded under another name, Cadabra, Inc. in the year 1994. The founder was Jeff Bezos, who had left his job as a Vice-President at D. E. Shaw & Co., a wall-street firm. He renamed his company Amazon within a few short months. Amazon was established with the original idea of making it the biggest bookstore in the world.

Slow company growth, along with no expectations of turning a profit for initial four to five years was making investors edgy and the dot-com bubble burst of the year 2001, did not increase investor confidence as many e-companies were destroyed in its wake. Amazon, however, did not only survive but recorded its first profit in the fourth quarter of the same year. This proved to be Amazon’s turning point as it grew swiftly expanding its product repertoire and becoming one of America’s Big Five technological companies.

In a bid to challenge Walmart’s supremacy in the brick-and-mortar retail space, Amazon acquired Whole Foods in the year 2017. Amazon’s e-commerce business model grew exponentially in the year 2020 when it recorded a 38% rise over 2019.

Walmart

Originally a brick-and-mortar store format, Walmart was founded in the year 1962 as a single store in Rogers that expanded outside Arkansas by 1968. The decision to lower the sale price of the products and reduce profit margins to boost sales volume was taken by founder Sam Walton. By the year 1978, Walmart branched out into new markets and also launched its pharmacy, auto service center, and jewelry divisions. Expanding quickly, Walmart had successfully opened and was operating a store in every state of the United States and also opened its first store in Canada in the year 1995.

At the turn of the century, Fortune magazine ranked Walmart at number five on its Global Most Admired All-Stars List and by the years 2003 and 2004, Walmart was named as the most admired company in America. Over the years, Walmart has expanded its global presence as well as acquired many businesses. By the year 2022, the company operated stores in Botswana, Canada, Chile, China, Costa Rica, El Salvador, Ghana, Guatemala, Honduras, India, Kenya, Lesotho, Malawi, Mexico, Mozambique, Namibia, Nicaragua, Nigeria, South Africa, Swaziland, Tanzania, Uganda, and Zambia.

The company launched its e-commerce portal Walmart.com in the year 2000. However, it was only in the year 2016, that the management seriously considered online selling.

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Comparison Between the Two Giants

The difference in business operations was highly visible a few years ago between these two retail giants. One operated in the physical world of retail through brick-and-mortar stores while the other, a more recent business, navigated the online retail space. Undoubtedly though, both have been leading the retail space through their business operations.

In the last few years, especially post the pandemic period, both these giants have made successful attempts at foraying into the other’s playground. They have responded to the changes within the retail industry. This is a comparison between them to ascertain who leads the retail space.

The Number’s Game

The financial year of 2020 saw Walmart’s revenue increase by 6.7% to reach a total of USD 559 billion. Walmart also saw an increase of 6.2% in quarterly revenue in the first quarter of the year 2021 to reach 138.31 billion. On the other hand, Amazon’s revenue in the year 2020 was USD 93.4 billion and it witnessed a 43.8% increase in the quarterly revenue to reach 108.5 billion in the first quarter of 2021. That year, Amazon’s annual revenue saw a growth of USD 100 billion to reach a total of USD 386 billion. In terms of the number of employees, Walmart leads with 2.3 million as opposed to Amazon’s 1.3 million.

Investing in Innovation & Technology

In this particular field, Amazon has a clear advantage being a technology company itself. However, both these companies have taken giant leaps by adopting technologies benefitting their business operations and making the user experience better during the pandemic period. Amazon introduced biometric payments, Amazon Fresh Grocery Stores, FAA-approved drone deliveries, and even a hair salon. The company has also strengthened its pharmaceutical offerings as well as its smart home devices.

On the other hand, Walmart’s efforts in innovation are in streamlining order fulfillment and enhancing customer experience. It introduced the Alphabot platform in the year 2020, which can pick, pack, and deliver online grocery orders faster and more accurately than humans. It has also re-designed its 1000 stores in an effort to create a more streamlined and faster shopping experience.

Walmart just announced a new technology called Alphabot

Customer-Centric Policies

Being primarily an online company, Amazon is better positioned for an increased focus on customer satisfaction. In fact, the company is known for its culture of customer obsession. It has an unparalleled system for product recommendations and personalization that generates approximately 35% of its total sales.

Walmart, on the other hand, while understanding the importance of being customer-centric has only just recently begun making many changes with this in mind. Its new store layouts are designed for easy and quick access to customer needs and the company has also renewed its focus on mobile and online shopping to meet customer demands.

Digital Growth

Digital growth, for most companies, saw a substantial increase during the pandemic period. Walmart and Amazon were leading the pack with Walmart reporting a 79% e-commerce growth and Amazon leading with 40% of the total e-commerce sales in the US. Walmart has successfully blurred the lines between in-person and online shopping making the smartphone an important part of the shopping experience. Its Walmart+, unveiled in the year 2020 was in direct response to Amazon Prime, offering unlimited free grocery delivery, Scan and go in-store shopping, and gas discounts among many others. On the other hand, Amazon found success with Prime streaming video with more than 175 million subscribers in 2020 recording an increase of 70% in streaming hours.

Physical Retail Presence

In this category, Walmart leads by a large margin, being that it has been in business for far longer than Amazon. It has more than 5000 stores in the US alone and 90% of its customer base resides within a 10-mile radius of a Walmart outlet. In the last few years, Amazon has also increased its physical presence with its own grocery stores. Its acquisition, Whole Foods is already present in more than 500 locations and Amazon is also opening full-size fresh grocery stores across the country.

Supply Chain Logistics

In this category, Amazon clearly leads the pack with quick shipping and same-day and next-day shipping for its Prime members. The company maintains complete control over its logistics with its own fleet of trucks and planes. In the year 2020, it also got the FAA approval for delivery drones ensuring a delivery time of 30 minutes or less. Walmart is closely following Amazon’s footsteps with one-day shipping. It has also expanded its Alphabot system to automatically fulfill grocery orders while also converting more stores into automated fulfillment centers. It also unveiled Express in the year 2020, which is its new two-hour delivery service.

Sustainability

Both Amazon and Walmart have shown commitment by investing in environmental initiatives. Jeff Bezos of Amazon has introduced USD 10 billion Bezos Earth Fund and also is investing USD 2 billion in sustainable companies and technology. The company’s public goals include 100% usage of renewable energy by 2025 and achieving net-zero carbon by the year 2040. Walmart bought and installed more solar than any other company in the US in the year 2019. It also diverted 80% of its global waste from landfills and incineration. Walmart aims to achieve zero waste in US and Canada operations by 2025, 100% recyclable packaging by 2025, and 100% renewable energy by 2035.

Conclusion

Both these companies are retail giants and leaders in their sectors. Both conglomerates are operating and expanding with speed while also being environmentally conscious. Each of them has had its own journey in introducing innovation and technology to better consumer engagement and experience. With that said, it isn’t an easy win for either of them. The best judge is time and it will show which one of them stands strong.

FAQs

When was Walmart founded?

Walmart was founded in the year 1962.

When was Amazon founded?

Jeff Bezos founded Amazon in 1994.

What is Jeff Bezos’s initiative for sustainability?

Jeff Bezos has introduced USD 10 billion Bezos Earth Fund and also is investing USD 2 billion in sustainable companies and technology.

May 29, 2023
Top E-Commerce Retailers in The USA by Their Market Share

As the world gears up through the prosperity and connectivity of Industry 4.0, e-commerce has had the best journey. The number of internet users is increasing tremendously by the day with more and more efforts to make people stay connected online and get things done virtually.

With over 63% of people using the internet across the United States of America, e-commerce has grown by 50% during the pandemic alone. E-commerce, due to the exposure that it provides for small businesses and the visibility that all businesses get even in the remote areas of the country, is getting bigger by the day.

The US is one of the most developed marketplaces for e-commerce companies with this particular segment accounting for more than $1 trillion in annual retail sales across the country.

This article will discuss some popular e-commerce companies in the USA based on their market share. Most of these companies or not only popular in the USA but are also the best globally.

Amazon
Walmart
Apple
eBay
Target
The Home Depot
Best Buy
Costco
Carvana
Kroger
Wayfair
Chewy
Macy’s

Amazon

Founded 1994

Headquarters Seattle, Washington, US

Revenue $513.98 Billion (2022)

Website amazon.com

Amazon – Top E-Commerce Retailers in the USA

Amazon is the undisputed leader in the industry with a market share of 41% as per the reports that came in the year 2022. They have a whopping 2.1 billion visits on January 2022 which they proudly flaunt. Amazon was founded in the US in the year 1994 as an online marketplace for books from where it has expanded into a multinational technology company that focuses on e-commerce, digital streaming, and artificial intelligence.

It is one of the big five American information technology companies at par with Alphabet, Apple, Meta, and Microsoft. Jeff Bezos owns this e-commerce company, which generates revenue of $470 billion, and employs more than 15,44,000 people globally. Amazon is often referred to as “one of the most influential economic and cultural forces in the world”.

Market share of leading retail e-commerce companies in the United States as of 2022

Walmart

Founded 1962

Headquarters Bentonville, Arkansas, US

Revenue $570 Billion (2022)

Website walmart.com

Walmart – Top E-Commerce Retailers in the USA

This American multinational retail corporation was in fact the world’s largest one of its kind that operates a plethora of departmental stores, grocery stores, and hypermarkets.

Headquartered in Bentonville, Arkansas, Walmart was founded by Sam Walton and James Walton in 1962. They account for 6.3% of the market share to gain $393.25 billion in 2022 from $369.96 billion in 2021. Not surprisingly, they were also the world’s largest private employer with 2.2 million people working for them.

Apple

Founded 1976

Headquarters Cupertino, California, US

Revenue $394.328 Billion (2022)

Website apple.com

Apple – Top E-Commerce Retailers in the USA

Apple.com, the retail store by Apple Inc, holds 3.9% of the market share through its net sales across its online store. They sell a range of their products from personal computers, smartphones, tablets, digital media players, etc. The first Apple store was opened in 2001 by Apple CEO Steve Jobs.

Apple proudly holds its online retail stores as it was widely speculated that these stores would fail. Decades after its launch, apple stores continue to be one of the top e-commerce companies across the globe and in the United States of America.

It also became the fastest company to make more than 1 billion in sales within three years of its launch to be the first company to do so. Their success as top-tier online retailers becomes sweeter due to the fact that they only sell Apple products.

eBay

Founded 1995

Headquarters San Jose, California, US

Revenue $10.8 Billion (2021)

Website ebay.com

eBay – Top E-Commerce Retailers in the USA

Since its inception in 1995, eBay has never had to look back as it continued to expand its business globally in more than 20 countries. It was founded by an Iranian American named Pierre Omidyar and the first item to be sold on the auction website was a broken laser printer.

They were in fact the pioneers of the e-commerce segment. This California-based company allows both consumer-to-consumer and business-to-consumer sales through its website. It holds 3.5% of the market share in the US.

Target

Founded 1902

Headquarters Minneapolis, Minnesota, US

Revenue $26.12 Billion (2022)

Website target.com

Target – Top E-Commerce Retailers in the USA

Headquartered in Minnesota, Target is a big box department store that is considered the seventh largest retailer in the United States of America. Their e-commerce segment was launched in 2010 when they partnered with Amazon before independently launching itself.

In 2020 alone their business grew by 144.7 %. They hold 2.1% of the e-commerce sale in the country as of June 2022. It was established as a discount division of the Dayton department store in 1962. This Fortune 500 listed company has 1948 stores across the USA.

The Home Depot

Founded 1978

Headquarters Atlanta, Georgia, United States

Revenue $151.2 Billion (2022)

Website homedepot.com

The Home Depot- Top E-Commerce Retailers in the USA

Home Depot is an online platform for all sorts of home improvement needs including appliances, bathroom decorating ideas, kitchen remodeling, patio furniture, and so on. They have employed more than 500,000 employees globally.

They have been able to significantly integrate the nuances of both online and offline shopping by providing a seamless customer experience. They hold 2.1% of the US e-commerce market. In the financial year 2021, they achieved the milestone of making $150 billion in sales.

Additionally, its personalized omnichannel strategy and revamped investments in areas like artificial intelligence and augmented reality have further improved its online presence.

Best Buy

Founded 1966

Headquarters Richfield, Minnesota, US

Revenue $51.761 Billion (2022)

Website bestbuy.com

Best Buy – Top E-Commerce Retailers in the USA

Founded by Richard M. Schulze and James Wheeler in 1966, Best Buy was initially an audio specialty store that grew into a multinational consumer electronics retailer. They are the largest specialty retailer in the consumer electronics retail industry.

It holds 1.6% of the market share and was ranked number 17 in the Fortune 500 list of the top state corporations in the United States based on the total revenue generated. They have also integrated virtual shopping experiences into their midst to improve customer experience further. They hope to enrich the lives of people through the innovative and efficient use of technology.

Costco

Founded 1983

Headquarters Issaquah, Washington, US

Revenue $226.954 Billion (2022)

Website costco.com

Costco – Top E-Commerce Retailers in the USA

Costco was first opened in 1976 in a converted airplane hangar in San Diego. It used to be a small endeavor that served only small businesses. In fact, Costco was the first company that got a whopping $3 billion in sales within six years.

As of 2020, Costco Wholesale is the fifth largest retailer in the world and holds 1.6% of e-commerce sales in the USA. As of today, Costco is an American multinational corporation that operates a chain of membership-only big-box retail stores.

They are listed as one of the Fortune 500 companies and continue to grow through its strong entrepreneurial drive for excellence and a strong backbone cemented by employees who are highly loyal to the company due to their excellent workplace culture which attracts energetic, positive, and talented employees.

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Carvana

Founded 2012

Headquarters Tempe, Arizona, US

Revenue $3.386 Billion (2022)

Website carvana.com

Carvana – Top E-Commerce Retailers in the USA

Founded in 2012, Carvana has emerged as the most online growing used car retailer in the United States. It was started by Ernest Garcia III, Ryan Keeton, and Ben Huston and is most popular for its multi-story car vending machines.

As of 2021, Carvana operates in over 250 markets across the United States and has become one of the largest used car retailers in the country. Being a young company, Carvana was able to get its name featured in the Fortune 500 list (2021) and is known to hold 1.5% of the total e-commerce market share in the US.

Kroger

Founded 1883

Headquarters Cincinnati, Ohio, U.S.

Revenue $137.888 Billion (2022)

Website kroger.com

Kroger – Top E-Commerce Retailers in the USA

Introduced in 1883, Kroger is an American retail company that operates supermarkets and multi-department stores in the United States. Kroger holds 1.4% of the total e-commerce market in the US.

Kroger’s headquarters are placed in Cincinnati, Ohio. Today, Kroger operates over 2,700 grocery stores in 35 states under various brand names, including Kroger, Ralphs, Fred Meyer, and Fry’s. In addition to groceries, Kroger stores offer a range of products and services, including pharmacy services, fuel stations, and online shopping options.

The company is also known for its private label products, which are sold under various brand names, such as Simple Truth and Private Selection. Kroger is committed to sustainability and has implemented several initiatives to reduce waste, conserve energy, and promote social responsibility.

Wayfair

Founded 2002

Headquarters Boston, Massachusetts, US

Revenue $13.708 Billion (2021)

Website wayfair.com

Wayfair – Top E-Commerce Retailers in the USA

Previously known as CSN stores, Wayfair is an American e-commerce company that specializes in selling furniture, decor, home goods, and other household items online. It was founded by Niraj Shah and Steve Conine in 2002 with its headquarters being placed in Boston, Massachusetts. The company holds 1.1% of the total e-commerce market share of the United States.

Wayfair operates through several online retail websites, including Wayfair.com, Joss & Main, AllModern, and Birch Lane. Its website offers 14 million items from more than 11,000 global suppliers. Wayfair has operations in North America, Europe, and Australia, and as of 2021, employs over 16,000 people.

Chewy

Founded 2011

Headquarters Plantation, Florida, US

Revenue $8.891 Billion (2022)

Website chewy.com

Chewy – Top E-Commerce Retailers in the USA

Chewy was introduced in 2011 by Ryan Cohen and Michael Day with the name “MR. Chewy”. The company was later on acquired by PetSmart in 2017. Chewy is an American online retailer of pet food and supplies that offers a wide range of pet-related products, including food, treats, toys, medication, and accessories for dogs, cats, birds, fish, and other small animals.

The company operates through its e-commerce website, Chewy.com, which offers a variety of search options and filters to help customers find the products they need.

Chewy has grown rapidly in recent years and as of 2021, Chewy has 13 fulfillment centers across the US. It also holds % of the total market share of the US e-commerce market.

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Macy’s

Founded 1858

Headquarters New York City, US

Revenue $25.292 Billion (2022)

Website macys.com

Macy’s – Top E-Commerce Retailers in the USA

They are an American chain of high-end department stores with a long legacy that can be traced back to 1858 since its launch by Rowland Hussey Macy. They account for 0.9% of the US commerce retail sales.

Headquartered in New York, Macy’s is known for its high-quality products with a nationwide footprint which gives a hassle-free shopping experience to the customers. They believe in and strive towards creating a brighter future with bold representation.

Conclusion

E-commerce industries are sprouting up not only in the USA but also across the world at a fast pace. Tracing the patterns of the top e-commerce companies, it can be understood that two things that all successful e-commerce companies did were to provide excellent customer service and cater to all their needs.

As long as the customers are happy the company can rest assured of its growth. However, there is no doubt that e-commerce industries offer a plethora of opportunities for young entrepreneurs to make their mark.

FAQs

What is the top US e-commerce company?

Undoubtedly, Amazon is the top US e-commerce company.

How many online retailers are there in the US?

As per the data shared by Zippia, the US is home to around 1.8 million online retailers.

Which country is number one in e-commerce?

China is number one in the e-commerce sector owing to its large population providing the opportunity of having the biggest marketplace.

How big is the US e-commerce market?

The US e-commerce market is the second largest e-commerce market in the world with a revenue of 862.4 billion in 2021.

February 21, 2023

Founded	1994
Headquarters	Seattle, Washington, US
Revenue	$513.98 Billion (2022)
Website	amazon.com

Founded	1962
Headquarters	Bentonville, Arkansas, US
Revenue	$570 Billion (2022)
Website	walmart.com

Founded	1976
Headquarters	Cupertino, California, US
Revenue	$394.328 Billion (2022)
Website	apple.com

Founded	1995
Headquarters	San Jose, California, US
Revenue	$10.8 Billion (2021)
Website	ebay.com

Founded	1902
Headquarters	Minneapolis, Minnesota, US
Revenue	$26.12 Billion (2022)
Website	target.com

Founded	1978
Headquarters	Atlanta, Georgia, United States
Revenue	$151.2 Billion (2022)
Website	homedepot.com

Founded	1966
Headquarters	Richfield, Minnesota, US
Revenue	$51.761 Billion (2022)
Website	bestbuy.com

Founded	1983
Headquarters	Issaquah, Washington, US
Revenue	$226.954 Billion (2022)
Website	costco.com

Founded	2012
Headquarters	Tempe, Arizona, US
Revenue	$3.386 Billion (2022)
Website	carvana.com

Founded	1883
Headquarters	Cincinnati, Ohio, U.S.
Revenue	$137.888 Billion (2022)
Website	kroger.com

Founded	2002
Headquarters	Boston, Massachusetts, US
Revenue	$13.708 Billion (2021)
Website	wayfair.com

Founded	2011
Headquarters	Plantation, Florida, US
Revenue	$8.891 Billion (2022)
Website	chewy.com

Founded	1858
Headquarters	New York City, US
Revenue	$25.292 Billion (2022)
Website	macys.com

Amazon – The Success Story of the Jeff Bezos-Founded Company

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Amazon.

Online shopping has become a part of daily life for most of us today. A recent survey in 2022 reveals that over 2.14 billion people worldwide shops online, which makes 27.6% of the people out of 7.74 billion people in the world. Thus, it can be concluded that more than one out of four people shops online now.

While the number of e-commerce companies worldwide is growing fast, there are a few pioneer companies that have established themselves as the market leader in the sector, and one of them is Amazon.

Starting in the year 1994 from the founder Jeff Bezos’ garage, Amazon is one of the few companies that joined the 1 trillion valuation club.

Let’s have a look into the startup story of the e-commerce giant, Amazon along with it, discover Amazon’s Revenue, Funding, History, Growth, Competitors and more.

Amazon – Company Highlights

Startup Name	Amazon
Headquarters	Seattle, Washington (USA)
Sector	E-Commerce
Founder	Jeff Bezos
CEO	Andy Jassy
Founded	1994
Amazon India Founded	June 2013
Revenue	460.82 Billion (2021)
Funding	$108 Million (went public in 1997)
Valuation	$1.56 Trillion+
Parent Organization	Amazon.com, Inc.
Website	www.amazon.in

Amazon – About
Amazon – Founder & Team
Amazon – Startup Story
Amazon – Name & Logo
Amazon – Growth & Revenue
Amazon – Funding & Investors
Amazon – Investments
Amazon – Acquisitions
Amazon – Business & Revenue Model
Amazon – Competitors
Amazon – Future Plans

Amazon – About

Amazon.com, Inc was launched in 1994 by Jeff Bezos in the United States. Later, it stepped into other countries to increase its market. Amazon India was started in June 2013, and sooner it became one of the biggest eCommerce platforms in India. Initially, the company started by selling books and it expanded to sell electronics, households, software, food, jewellery, and a lot more.

Currently, other than being an e-commerce company, Amazon has diversified into a number of domains including cloud computing, Publishing, on-demand music, video streaming, AI, consumer electronics, etc and the company is constantly on the lookout to enter new segments.

Amazon Studios, Amazon Publishing, Amazon Music, and Amazon Web Services are some of its other subsidiaries. In its bid to grow, Amazon has acquired over 100 companies to date.Apart from being the biggest E-Commerce platform, Amazon also offers some pretty exciting and good services and they are:

Amazon Web Services (AWS)

AWS is the web services platform of Amazon, which offers IT infrastructure services to businesses in the form of web services, which is commonly referred to as cloud computing. AWS was launched in 2006, and on March 2, 2021, it was selected by PGA TOUR as its official cloud provider.

Amazon Go

Amazon Go Logo

Amazon Go is a chain of convenience stores that is run under Amazon which was started in the year 2018. The stores are mainly present in the United States and the United Kingdom, the main concept of these stores is that there are no cashiers in the store with whom customers have to deal. Everything is automated there and they have self-checkout stations where customers can pay for their supplies after picking them up from the store. As of now, there are 42+ Amazon Go stores.

Amazon Prime

Amazon Prime Logo

This is the OTT video streaming platform offered by Amazon, it is a subscription-based platform where movies, television series, web series, and other video content are provided for the audience to watch. Amazon Prime was launched worldwide in 2016, however, some countries were excluded then, like North Korea, Mainland China, Syria, Cuba, and Iran. Amazon Prime Video made history as the first streaming service to secure an Exclusive National Broadcast Package from the NFL on March 18, 2021.

“We recognize the need for in-game content by mobile gamers to enhance their playing experience and are delighted to provide access to this content free to Prime members. We will continue to add new in-game content for other popular games, with frequent content refreshes.” – Akshay Sahi, Director and Head of Prime, Amazon India

Amazon Pay

Amazon Pay Logo

This is the online payment processing service provided by Amazon. It was launched in the year 2007. Through this payment service, one can pay from their Amazon account, for goods and services. The payment service is supported by fraud protection technology through which you can complete any transaction securely. Amazon Pay launched Smart Stores on June 26, 2020. The Smart Stores of Amazon Pay is an India-specific programme that would enable the physical stores to serve the customers with a wide range of products that they can easily avail of and pay for just by scanning the QR codes.

“Amazon Pay is already accepted at millions of local shops, we are trying to make customers buying experience at local shops more convenient and safe through Smart Stores.” -Mahendra Nerukar, Amazon Pay CEO

Smart Stores is also coming up with a feature in which a digital store will be available for the customers in which customers can go through the products that the shop is having, can read and update the reviews of the product, and avail many offers which can provide them benefits, and a new type of shopping experience. Many shops have signed up for Amazon Pay Smart Stores and came forward as they have found a new hope to bring their business back on track. Big brands such as Big Bazaar and MedPlus have come forward and have taken a part in this new initiative.

Smart Commerce Initiative

Amazon has announced its Smart Commerce initiative in India, as far as May 18, 2022 reports go. With this initiative, Amazon India has plans to transform the local stores into “Digital Dukaans“. Amazon announced during the 3rd edition of Amazon Smbhav that the company will be fuelling its plans to digitise 1 crore small businesses by 2025 via the launch of its Smart Commerce.

Amazon – Founder & Team

Jeff Bezos (Founder & Former CEO, Amazon)

Amazon was founded by Jeff Bezos (Jeffrey Preston Bezos) in 1994. He is an American entrepreneur and industrialist. After graduating from Princeton University with a degree in electrical engineering and computer science in 1986, Bezos worked for ‘Fitel’ ( a fintech telecommunication startup), where he was working on building a network for international trade. Later Bezos was promoted to head of development and director of customer service at ‘Fitel’.

Jeff Bezos- Amazon Founder

Jeff Bezos stepped down as CEO of Amazon and will be the executive chairman of Amazon. Andy Jassy -The Cloud Computing Chief has been appointed as the new CEO of Amazon.

Andy Jassy (Cloud Computing Chief & CEO of Amazon)

Jassy joined Amazon in 1997. He has an MBA from Harvard Business School. It was Andy Jassy who founded Amazon Web Services (AWS), a cloud platform with millions of users. Andy Jassy’s promotion from being a Cloud Computing Chief to the CEO (Chief Executive Officer) of Amazon is remarkable and highlights the importance of web services to Amazon’s future. Andy Jassy has taken over the position of Amazon CEO.

Andy Jassy- Amazon CEO

Amazon – Startup Story

Jeff Bezos jokingly describes founding Amazon as a ‘Regret Minimization Framework’. Jeff did not want to regret not taking advantage of the internet boom that had then started to slowly take the world by storm. Hence in 1994, Jeff left his job as vice president of D.E Shaw & Co. to start his own venture.

Jeff Bezos wrote his company’s first business plan on a cross-country drive from New York to Seattle. Initially, Amazon was registered as Cadabra, Inc. However, when Jeff found out that people misheard the name Cadabra as ‘cadaver’ (cadaver means corpse), he decided to change the name and bought the domain name relentless.com. But that too was changed as his friends did not quite like the name and finally named his company ‘Amazon’.

Jeff listed 20 products that can be sold online, out of which he decided to start with selling books. The first to invest in Amazon was Jeff Bezos’ parents, who invested $250,000 in the venture. By 1997, Amazon had 2.5 million titles.

In 1998, Amazon acquired Junglee Corporation ( provider of database technology to help consumers find products on the Internet) and ‘Planet All’ a social networking, calendaring, and address book site, and with it, the company also started expanding its offerings beyond books.

In 2005 Amazon also entered the crowd-sourcing business with ‘Amazon Mechanical Turk’.

In 2006, Amazon entered the cloud computing sector with ‘Amazon Web Services (AWS) realizing the great scope that the sector holds. In 2006, Amazon entered the video-on-demand sector with ‘Amazon Unbox’.

In November 2007, Amazon released Kindle, its first e-reader, which became quite popular among users. In 2007, Amazon launched Amazon Music.

Another Amazon product that has gained popularity is ‘Alexa’, which is a virtual assistant AI technology developed by Amazon.

Amazon – Name & Logo

Amazon being the largest river in the world, the company was named ‘Amazon’ as Jeff Bezos envisioned his company to be the largest.

Amazon Logo

Amazon’s current logo which the company has been using since the year 2000, has an arrow leading from A to Z, which reflects the company’s goal to provide every product a customer needs. The arrow forms a smile, which represents customer satisfaction.

Amazon – Growth & Revenue

What started as a small online book store has become the world’s largest online marketplace today. Ever since Amazon was launched, it simply grew from strength to strength. The company diversified and explored many horizons, and most importantly, it cemented its position regardless of where it went.

Amazon India marketplace, which is run by Amazon Seller Services, has posted a 49% rise in its revenue from operations that have been recorded at Rs 16,200 crore during FY21 and was last recorded at Rs 10,847.6 crore. The eCommerce giant in India also witnessed a decrease in its losses, which declined from Rs 5849 crore to Rs 4748 crore. However, another unit of Amazon called Amazon Wholesale (India), has scaled down during FY21, posting a 7% drop in its revenue from operations, which decreased from Rs 3384 crore (FY20) to Rs 3131 crore (FY21).

Looking at the sales, Amazon’s sales also skyrocketed at an unimaginable pace, which has significantly contributed to the growth of the business. One another thing is the diversification of its products and the realization of the future of the online shopping and eCommerce businesses at an early stage, which helped Amazon scale leaps and bounds.

Amazon might get affected by tighter FDI Rules by the Indian government, as per reports dated February 27, 2021.

Amazon – Funding & Investors

Let’s take a detailed look at the Amazon’s funding history. The company has received a total funding amount of $108 million over two rounds. Amazon went public in 1997. Amazon is funded by 2 investors, AOL and Kleiner Perkins.

Investors

Date	Stage	Amount	Investors
July 2001	Funding Round	$100M	–
June 1996	Series A	$8M	Kleiner Perkins

Amazon – Investments

Amazon invested in numerous organisations, keeping a track of which is really difficult if not impossible. The Bezos-founded company has over 118 investments to date.

The Andy Jassy-led company is looking to buy majority stakes in Ecom Express for $500-600 mn. Amazon doesn’t own an in-house logistics and delivery system unlike its rival Flipkart, and to match the Walmart-backed company, Amazon is planning to own an ecommerce logistics and delivery unit. Though both Amazon and Ecom Express are in the preliminary stages of talks, the ecommerce behemoth will likely pick up 51% stakes in the latter, thereby leading Warburg Pincus to quit.

Here we have managed to present to you some of the recent investments of Amazon. Check them out below:

Date of Investment	Name of the Company	Funding Round	Lead Investor
April 22, 2022	Agility Robotics	Series B	–
April 21, 2022	Modjoul	Venture Round	Yes
April 21, 2022	BionicHive	Venture Round	Yes
April 21, 2022	Mantis Robotics	Seed Round	Yes
April 21, 2022	VIMAAN	Venture Round	Yes
January 6, 2022	LeedPay	Pre-Seed Round	–
December 14, 2021	Amogy	Series A	–
December 3, 2021	Dibbs	Corporate Round	Yes
November 9, 2021	MyGlamm	Series D	–
October 19, 2021	Pismo	Series B	Yes

Amazon – Acquisitions

Amazon has had a list of acquisitions since 1994 when it started. The tech giant boasts of 94+ acquisitions and counting. Here’s a list of some of the prominent acquisitions that Amazon made recently:

Date	Name of the Company	Deal Value
April 22, 2022	GlowRoad	–
March 7, 2022	Veeqo	–
December 22, 2021	Prione	–
May 26, 2021	MGM Studios	$8.5 bn
March 30, 2021	Perpule	$14.36 mn
February 16, 2021	Selz	–
June 26, 2020	Zoox	$1.2 bn
October 24, 2019	Health Navigator	–
September 25, 2019	INLT	–
July 31, 2019	E8 Storage	–

Amazon – Business & Revenue Model

Amazon primarily runs an E-commerce business, which runs on an E-commerce business model. The company also has other wings, which run on an array of business models. Besides, Amazon also manufactures numerous products that are sold online and via retail stores across the world.

Amazon Customer Segment

Amazon customers can be divided into:

Sellers – They sell their products to a wide audience using the Amazon platform.
Buyers – They buy from a wide selection of Amazon products and services.
Developers – There are numerous communities involved with the Amazon Web Services (AWS), which include both Amazon customers, partners, businesses, and individuals.

Amazon Value Proposition

The business model of the company, as per the founder of Amazon, Jeff Bezos, depends on 3 value propositions:

Low price
Fast delivery
Wide selection of products

Amazon Channels

The most important channel of Amazon is the Amazon website itself. Some other notable channels of Amazon include Amazon Prime, the Amazon app, and more.

A major portion of Amazon’s revenue comes from its E-commerce business. Besides, Amazon also has 526+ brick and mortar retail outlets, which forms a good source of revenue.

It also makes a huge revenue through Kindle, an electronic device to read books, subscription fee of ‘Amazon Prime’, third-party seller services, advertising revenues, and revenue from Amazon Web Services.

Here are the prominent revenue channels of Amazon:

Sales for one-time
Sales commissions
Advertising
Subscriptions like that of Amazon Prime and the app itself
Web Services (AWS)
Licenses
Patents
Pay-Per-Use and Support Subscription

Amazon – Competitors

Amazon has a lot of competitors in segments such as merchandise, web services, electronics, and media. some of the main competitors of Amazon in its different fields.

Flipkart
eBay
Netflix
Google
Microsoft
Alibaba Group
Apple
Oracle

Amazon – Future Plans

Amazon plans to expand in the areas of Machine Learning, Home Automation, Robotics, and Space Exploration (termed ‘MARS’).

Amazon is planning to venture into the health-tech and food delivery business soon. Amazon CEO Jeff Bezos has revealed plans to introduce ‘Amazon Prime Air Drone Delivery Service’, whereby lighter packages will be delivered to customers through drones. The company is also making efforts to make its delivery system more eco-friendly, by including electric vehicles in its delivery services.

Regarding Amazon’s plan in India, the company is planning to create 1 million new jobs in India by 2025. In January 2020, Jeff Bezos announced that Amazon will invest $1 billion in India to help 10 million traders and MSMEs businesses in India to go online. The company is envisioning to enable exports worth $10 billion via Amazon by 2025.

Amazon has announced to facilitate $20 billion worth of exports of Indian goods in the next 3 years, as per Amazon Exports Digest 2022. On average, it makes the company exported Indian goods would have to be $2 billion a year since 2015.

FAQs

What is Amazon’s Funding History?

Amazon received a total funding of $108 million over two rounds. Amazon went public in 1997.

When was Amazon Founded in India?

Amazon launched its operations in India in June 2013. Amazon was founded in July 1994.

Who is Amazon’s CEO?

Andy Jassy is the CEO of Amazon. Jeff Bezos was the former CEO of Amazon.

How much is Amazon’s Revenue?

Amazon India marketplace posted Rs 16,200 crore as its revenue from operations in FY21, which was a 49% increase from Rs 10,847.6, which it saw in FY20. On the other hand, the Amazon Wholesale business of India has witnessed a 7% drop in its operational revenue, which was recorded at Rs 3384 crore in FY20 and became Rs 3131 crore during FY21.

What are Amazon’s keys to success?

A huge number of SKUs, Table of Contents, Free Shipping and Returns, Overnight Delivery, Incredible Customer Service, and Talented Management is the Amazon’s keys to success.

How long did it take Amazon to make a profit?

It took Amazon more than 14 years—58 quarters after its initial public offering to make, as much profit as it produced in the latest quarter.

What is Amazon’s launch year?

Amazon was launched in 1994.

Who is the founder of Amazon?

The founder of Amazon is Jeff Bezos, who is also known as the creator of Amazon.

August 9, 2022

Billionaires Got Richer During Pandemic

The worldwide COVID-19 pandemic may have pushed the world economy into a chaotic situation, with 2020 and 2021 projected to be worse than any of the years since the global financial crisis. However, billionaires, in the selected group of countries, have seen their financial situation improve during the phase of the pandemic, which has been financially painful for most people around the world.

According to a US report, Billionaires have doubled their wealth in the pandemic. Their wealth sees more growth during Covid-19 than in the last 14 years. The total wealth for billionaires stood at around $5 trillion and it is the biggest surge since forever.

The Billionaire Trend
Billionaires in India
Billionaires Who Got Richer

The Billionaire Trend

The sharp surge in the wealth of the richest Americans is being driven by the bounceback of the stock market in the US, primarily driven by the unprecedented action from the US Federal Reserve. Despite the surge in US Covid-19 cases and the record 43 million Americans filing for unemployment benefits, the country had hovered at record highs.

Investors have been buying equities, with Big Tech companies and those linked to healthcare such as Big Pharma and hospital stocks among the major beneficiaries as the US Fed’s emergency responded to the crisis by cutting interest rates to 0% and undertaking to buy unlimited amounts of bond translated into assets such as stocks, despite being risky investments, seeing fresh demand.

During the pandemic crisis, Amazon shares surged nearly 50% while Facebook recovered from the troughs that it hit in the month of March to record highs. Bezos, Facebook founder’s net worth surged over $30 billion since March 18.

A recent study calculated billionaire wealth using data provided by the Forbes Global Billionaires List, an actual assessment of net worth. March 18, 2020, is used as the starting date as it roughly corresponds with the time when the US Government began imposing lockdown restrictions.

“At a time of enormous economic pain and suffering, we have a fundamental choice to make. We can continue to allow the very rich to get much richer while everyone else gets poorer and poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and well-being of tens of millions of Americans,” the US Senator Bernie Sanders said.

Billionaires in India

In India, Mukesh Ambani’s net worth rose to nearly $79.3 billion, calculated on August 10, 2020, making him the fourth richest person in the world. Ambani’s wealth rose by $22 billion in 2020. He slowly shifted his focus to e-commerce, with tech giants seeking to buy a piece of India’s fastest-growing digital market.

On the other hand, his conglomerate Reliance Industries was slammed by a decrease in demand for oil amid COVID-19, its share price has more than doubled from the low in March as its digital unit got billions in investments from companies including Facebook and Google.

Major Indian pharma companies’ Share prices were on fire amidst the raging pandemic. Pharma tycoons like of companies like Sun Pharma, Dr Reddy’s Laboratories, Aurobindo Pharma, Divi’s Laboratories, Cipla etc. have doubled their net worth during the crisis. The wealth of Sunil Mittal and Gautam Adani of Adani Group has also grown largely.

There is a severe wealth level of financial inequality, which exists in India, and the fact that during the pandemic that inequality has become much worse. The extraordinary wealth gains that billionaires have earned during the pandemic come at a time when COVID-19 pandemic may double the poverty in India.

Billionaires Who Got Richer

Some of the Worldwide Billionaires who have grown richer and richer even during the Pandemic, they have never ceased to grow and surprise their onlookers.

Billionaires who got rich in pandemic

Steve Ballmer

The former Microsoft CEO Steve Ballmer’s net worth has increased tremendously during the pandemic. The tech billionaire had donated around $28 million to coronavirus charities in the month of August. The initial net worth was $52.7 billion and the amount gained was $18.5 billion, summing up the total end net worth $71.2 billion.

Ma Huateng

Chinese advanced technology billionaire Ma Huateng’s wealth has increased by 53.5% during the pandemic. The beginning net worth was $38.1 billion, it rose to end net worth of $58.5 billion with total amount gained $20.4 billion.

Mark Zuckerberg- The Founder and CEO of Facebook

Mark Zuckerberg is famous for Facebook. He was one of the youngest self-madebillionaire just at the age of 23. This year in the month of August, he cameunder the centibillionaire list. He’s an American media magnate, internetbusinessman, and philanthropist. He serves as Facebook’s president, chie…

StartupTalkyMeghashree Das

Mark Zuckerberg

A giant tech company called Facebook, its Founder and CEO Mark Zuckerberg became 77% richer during the pandemic. He donated $180 million to coronavirus charities as of August in 2020, a drop in the bucket for the tech billionaire. The initial net worth was $54.7 billion, which turned into a net worth of $96.8 billion. Gaining a huge amount of $42.1 billion.

Mukesh Ambani

The net worth of the Indian billionaire, Mukesh Ambani has increased to around $48.4 billion during the pandemic. He donated $68.32 million of the amount and 0.09% of his total net worth to coronavirus causes. The beginning net worth was $36.8 billion, it became the total sum of $85.2 billion. It makes the gained amount as $48.4 billion.

Jeff Bezos

Currently, the richest man in the world, Jeff Bezos, has made most of his profits during the pandemic through his e-commerce site called Amazon. Bezos gave nearly 64.3% of his total net worth to coronavirus causes, which amounts to $127 million worth of donations. The beginning net worth stood at $113 billion and the latest net worth was $185.6 billion, gaining the amount of $72.6 billion.

Conclusion

The worldwide billionaires did extremely well during the global pandemic crisis, growing their already-huge fortunes to a new level. Millions and millions of citizens faced great economic desperation, the already rich Billionaires became richer all this while.

FAQs

Who is the richest man in the world?

Elon Musk is currently the richest person in the world with his net worth of $219 billion.

Has billionaires beme richer in pandemic?

Billionaires has increased their wealth duric pandemic.

May 7, 2022
Income of The Top Richest People in The World [2022 Updated List]
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.

World’s 10 Richest Billionaires 2021

Richest People in the World

Elon Musk
Jeff Bezos
Bernard Arnault & Family
Bill Gates
Warren Buffett
Larry Ellison
Carlos Slim
Mark Zuckerberg
Jim Walton
Charles Koch
Amancio Ortega
David Koch
Ingvar Kamprad

Elon Musk

Founder – SpaceX
Net Worth (2022) – $229.1 Billion

Elon Musk Income | Salary of the Richest People in the World

Elon Musk Income:
Annual: $249534246575
Monthly: $20794520547
Weekly: $5198630136
Daily: $693150684

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 Income:
Annual: $171616438356
Monthly: $14301369863
Weekly: $3575342465
Daily: $476712328

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.

The Business And Revenue Model Of Amazon

In the recent years, Amazon has become a household name, whether it’s because oftheir unlimited options for selection, custom made services, cheaper prices,customer services or good quality search tool that helps in finding items ofone’s choice, it is popular worldwide. Amazon is a US based multi…

StartupTalkyPV Vyshnavi

Bernard Arnault & Family

Founder – LVMH Moet Hennessy Louis Vuitton

Net Worth (2022) – $152.9 Billion

Founder – LVMH Moet Hennessy Louis Vuitton

Net Worth (2022) – $152.9 Billion

Bernard Arnault Income | Salary of Richest People in the World

Bernard Arnault Income:
Annual: $147945205479
Monthly: $12328767123
Weekly: $3082191780
Daily: $410958904

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 Income:
Annual: $121315068493
Monthly: $10109589041
Weekly: $2527397260
Daily: $336986301

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

Warrent Buffet Income:
Annual: $88767123287
Monthly: $7397260273
Weekly: $1849315068
Daily: $246575342

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

Lary Ellison Income:
Annual: $95178082191
Monthly: $7931506849
Weekly: $1982876712
Daily: $264383561

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.

List of the Most Famous Entrepreneurs | 2022 Updated

World-famous successful entrepreneurs inspire entrepreneurs for Startup ventures. Here is a compiled list of famous entrepreneurs with net worth.

StartupTalkyAshwini

Carlos Slim and Family

Founder – Grupo Carso
Net Worth (2022) – $80.7 Billion

Carlos Slim Income | Salary of Richest People in the World

Carlos Slim Income:
Annual: $89753424657
Monthly: $7479452054
Weekly: $1869863013
Daily: $249315068

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 Income:
Annual: $92219178082
Monthly: $7684931506
Weekly: $1921232876
Daily: $256164383

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 Income:
Annual: $58191780821
Monthly: $4849315068
Weekly: $1212328767
Daily: $161643835

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 Koch Income:
Annual: $48328767123
Monthly: $4027397260
Weekly: $1006849315
Daily: $134246575

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 Income:
Annual: $58191780821
Monthly: $4849315068
Weekly: $1212328767
Daily: $161643835

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 Income:
Annual: $49315068493
Monthly: $4109589041
Weekly: $1027397260
Daily: $136986301

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 Income:
Annual: $57205479452
Monthly: $4767123287
Weekly: $1191780821
Daily: $158904109

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 of the 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).
March 7, 2022
Who are the Top 10 Richest People in the World Today?
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.

What Determines the Wealth of a Person?
Most Richest People in The Whole World
Why does the Position of These People changes?

What Determines the Wealth of a Person?

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.

List of the Most Famous Entrepreneurs | 2022 Updated

World-famous successful entrepreneurs inspire entrepreneurs for Startup ventures. Here is a compiled list of famous entrepreneurs with net worth.

StartupTalkyAshwini

Jeffrey Preston Bezos (Jeff Bezos)

Jeff Bezos | Richest People in the world

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.

Bernard Jean Etienne (Bernard Arnault)

Bernard Arnault | Richest People in the world

He is an entrepreneur and investor, born in the year 1949 in Roubaix, France. Bernard Arnault is the Chief Executive and Chairman of the leading luxury goods company, LVHM. The firm owns high-end brands like Louis Vuitton, Sephora, and more.

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.

Top Countries with Most number of Billionaires 2021

There are a lot of billionaires all around the world but which country has most number of Billionaires?, Lets find out

StartupTalkyAlan Joseph

Willian Henry Gates III (Bill Gates)

Bill Gates | Richest People in the world

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.

Who are the richest family in the world?

The richest family in the world are:
1. The Walton Family – United States
2. The Mars Family – United States
3. The Koch Family – United States
4. The Al Saud Family – Saudi Arabia
5. The Ambani Family – India
February 22, 2022
Why Jeff Bezos considers Fire Phone Failure a Good Thing?

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

What is Amazon?
How was the Fire Phone Idea ignited ?
The Fire Phone
What made Fire Phone unique from normal phones
The Fall of Amazon Fire Phone
Why does Jeff Bezos consider Fire Phone Failure a good thing?
FAQ

What is Amazon?

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.

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The Fire Phone

Jeff Bezos with Fire Phone

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.

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The Fall of Amazon Fire Phone

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.

November 5, 2021
How does Amazon Manage its Supply Chain and Logistics?

Amazon is now the world’s largest e-commerce company in the world. Many small and medium-scale businesses benefit a lot from Amazon. If you are a curious person and are entrepreneurial in nature, you might wonder very often how Amazon supply chain works. The logistics of Amazon are fairly complex and quite vast. Over the years Amazon has improved its supply chain operations and many other things. Today Amazon’s supply chain is one of the most sophisticated ones.

Warehousing Strategy
Sophisticated Delivery Network
Use of Robots
Third-party procurement and Self-manufacturing
Cost-Effective Supply chain
High-level Automation
Outsourcing Inventory Management and Insourcing Logistics
Push-Pull Strategy for Supply Chain Success
FAQ

So, Lets look at the Complete process of Supply chain management of Amazon

The supply chain of Amazon is one of the most sophisticated complex supply chains in the world. It is because of its supply chain, it has achieved such great heights. So, let’s look at the basics of how Amazon manages its logistics? and some of the advanced optimization Amazon does in order to work more efficiently.

Warehousing Strategy

Amazon Warehouse

Amazon is one of the influential e-commerce companies because of its advanced warehousing strategy. It has a strategy by which it can locate the desired product properly. All the products are placed strategically so that they can be found easily. The products are segregated infrequently demanded and rarely demanded. Warehouses are optimized really well so that goods can be procured faster.

They do demand forecasting and keep the products of high demand ready to be deployed. Apart from that they also follow certain quality control rules depending on the product so that the customer gets the best quality product.

Sohpisticated Delivery Network

Amazon Drone Delivery

The delivery system of Amazon is very sophisticated in nature. The supply chain is very well planned which will help the company to deliver the product properly. For members who have a Prime subscription, their products need to be delivered to them within 2 hours or next day depending on the location. Amazon has put in place a number of techniques that can arrange and pack your product and send it to your home.

Amazon has deployed a number of drones, robots, and other logistics technologies to help the goods reach your house faster. There are also many other delivery robots through which they are delivering the goods to their customer.

Use of Robots

Amazon Kiva Robots

Amazon employs technology in its Warehousing to improve its efficiency. It uses a number of robots in its warehouse which helps in arranging the goods, moving them from one place to another.

Amazon had acquired an automation company called Kiva Systems. It was renamed Amazon robotics after acquisition. These robots decreased human intervention and improved the delivery speed.

Amazon also implemented drones so that they can deliver their goods where logistics companies could not reach. Amazon has also deployed many small delivery robots which deliver goods to other people. These technologies enhance the delivery speed and make the whole process very easy.

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Third-party procurement and Self-manufacturing

Amazon Manufactured Products

Amazon is not just a retail e-commerce website now where it sells products from 3rd party. It is a company that ultimately focuses on customer satisfaction. In due course of time, Amazon has looked into possible ways of decreasing the cost of products.

With time, Amazon started manufacturing its own products like Earphones, iPhone chargers and many other things. These goods were much cheaper than the 3rd party manufacturers.

The product quality is also much better as the quality control is done by Amazon themselves. This leads to a lot of simplifications and decreases a lot of complications on the part of Amazon.

Cost-Effective Supply chain

Amazon has kept the cost of its supply chain very low. Due to its huge economies of scale, it was able to keep its cost very low. The per-unit supply is very cost effective. Amazon has several warehouses of its own and it has automated to a great extent. This is why they have a lot less operation cost than other companies.

High-level Automation

Amazon Delivery Robot

From its warehouses to delivery, Amazon has deployed a lot of robots to automate it. There are robots that would move and arrange the goods in the warehouse and also packaging the goods. For the delivery, Amazon has deployed drones, delivery robots, to deliver the product to the customer’s house. This decreases human involvement and thus decreases the cost of operation.

Outsourcing Inventory Management and Insourcing Logistics

Amazon outsources its inventory management to third parties wherever they see it’s feasible. Outsourcing helps them reduce costs and reduce the unnecessary expansion of the supply chain.

The third party stores the goods in their local storage and it is not stored in an Amazon warehouse. These third-party warehouses are generally located at special places and are supplied with those goods which are in high demand in that area.

Push-Pull Strategy for Supply Chain Success

Amazon implements a push-pull strategy in its warehouse management. The warehouses owned by Amazon are located in more strategic locations. While the Warehouses belonging to the third party are located at other places. So in the case of Amazon’s warehouse, it implements a push strategy and in the case of a third-party warehouse, it implements a pull strategy.

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Conclusion

Amazon has designed a supply chain in which it can optimize any part of it. It has introduced high-level automation using robots to decrease human employment. This helps them decrease the cost. From warehouse to delivery it has deployed several robots to arrange pack and deliver the product to the customer’s house. The supply chain and logistics of Amazon is one unique entity in the whole world.

FAQ

Does Amazon have the best supply chain?

Yes, Amazons supply chain is counted as one of the most efficient supply chains in the world.

What is the revenue of Amazon?

The revenue of Amazon of 2020 was 21.33 billion U.S. dollars.

What are the tasks that Amazon Outsources?

Product Listing and Optimization., Product Photography Services, Managing Sponsored Ads/ PPC, and Customer Support Services are some of the tasks that are outsourced by Amazon.

October 10, 2021