OPINION: Amazon not unscathed, but a clear winner of lockdown economy
JOHANNESBURG – Amazon was one of the world’s first online retailers. It was founded by Jeff Bezos in 1994 and started out as a small online marketplace for books.
The business grew rapidly and soon numerous other goods such as electronics, music, videotapes, apparel and toys were also being sold. Today, the company generates more than $800 million (R14 billion) in revenue each day and more than 45 percent of all online sales in the US occur on the e-commerce behemoth’s platform.
Amazon listed on the Nasdaq exchange in 1997. Incredibly, an initial investment would have increased in value by more than 1 500 times.
Source: iol.co.za