Jeff Bezos (Bezos) established Amazon in Seattle, Washington, in 1995 with the mission of making a company “that could sell everything possible online”. Amazon started off by selling books as books had a global market, long shelf life and were easy to deliver. In 1995, Amazon was known as the “earth’s biggest bookstore”.
By 1998, Amazon’s sales were $610 million and the company had more than 13 million worldwide customers. By the end of 1998, it diversified its merchandise to computer related products, furniture, clothes, toys, jewellery, and food.Amazon focused on investments in new and existing markets; it was clear that it did not expect to make profits for the first four to five years of entering the market...