Jeff Bezos, who was managing hedge funds in New York City at the time, started Amazon in 1994. Bezos quit his job to launch his own company; he decided to specialise on online book sales since he believed that the Internet could make this task more effective.
From his Seattle, Washington, garage, Bezos established Amazon.com in July 1995. Five people, including himself, made up his initial crew when he first began. Initially an online book retailer, Amazon quickly diversified to offer other goods including toys, films, and music.
A 1997 initial public offering (IPO) on the NASDAQ stock exchange saw the company, which was initially financed by Bezos' own resources, become public. The $54 million raised from the IPO was used to boost business growth.
Since then, Amazon has developed into one of the biggest corporations in the world, providing a variety of goods and services including cloud computing, streaming video, and e-commerce. In the realm of technology and e-commerce, Amazon is already a household name and has a market value of over $1 trillion.