Amazon, founded in 1994 as an online bookstore, became one of the first companies to exceed a $1 trillion market capitalization.
Amazon crossed the $1 trillion threshold on September 4, 2018, shortly after Apple reached the same milestone. Jeff Bezos founded the business as an online bookstore, but Amazon expanded into retail categories, logistics, digital media, devices, and cloud computing.
Amazon Web Services became especially important to the company’s financial profile. AWS provides computing, storage, databases, and other infrastructure to businesses and public institutions worldwide. Its growth helped investors view Amazon as more than an online retailer.
The company’s early name was “Cadabra,” but Bezos changed it to Amazon before launch. The marketplace now sells products from many independent sellers, while Amazon also sells goods directly and operates a large fulfillment network.