Amazon was the first internet retailer to exceed a US$1 trillion market capitalization in 2018.
Amazon crossed the US$1 trillion mark during trading on 4 September 2018, about a month after Apple reached the same valuation. The company’s share price had risen dramatically as investors responded to expanding online retail, Amazon Web Services, advertising, and subscription products.
Founded by Jeff Bezos in 1994 as an online bookstore, Amazon gradually expanded into a broad marketplace and technology company. Amazon Web Services became especially important because its cloud-computing infrastructure generated substantial revenue and operating profit.
The milestone does not mean Amazon was the first internet business of any kind to reach US$1 trillion; the wording usually refers to an internet retailer. Amazon is also distinct from Alibaba, China’s major e-commerce group, which reached major market-cap milestones on a different timetable.