Amazon became the second US company to reach a US$1 trillion market capitalization, in September 2018.
Amazon crossed the milestone on 4 September 2018, about a month after Apple became the first US company to do so. Its share-price rise reflected the scale and growth of its online retail business, Amazon Web Services, digital media, and expanding logistics network.
Amazon began as an online bookstore, but its business model broadened rapidly. The company added many categories, built a marketplace for third-party sellers, and developed cloud infrastructure through AWS. These businesses made Amazon both a retailer and a major technology-services provider.
Jeff Bezos founded Amazon in 1994, and the company began operating as an online bookseller in 1995. Its original corporate name was Cadabra, Inc., before it became Amazon. Market capitalization can rise before a company’s profits fully reflect its long-term ambitions, which is why Amazon’s valuation has often been debated.