March 24, 2023

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It was back in 1994 when Jeff Bezos founded Amazon. At the time of launch, Amazon was an online platform that users could visit to purchase books. Soon, it became one of the top platforms that the book readers could visit and purchase books of their liking.

Initially, when Amazon was founded, not many people from around the world liked the idea of an online bookstore. However, many businesspersons from the investment sector saw great potential for Amazon. Even many stockbrokers advised their investors to invest in Amazon as soon as the opportunity came.

After three years of being in the online selling business, Amazon went public and started offering its stocks to the public. Later in the year 1998, Amazon expand its product catalog and started offering users videos and music.

That was the time when Amazon started expanding its product catalog. With every passing day, Amazon continued expanding its products and catalogs for the customers before it went international. That was the time Amazon started flying high and never looked behind.

Since then Amazon has collaborated with several companies from all over the world to expand its services and jurisdictions. It has even provided millions of merchants and sellers to sell their products through the Amazon marketplace.

Furthermore, Amazon launched its cloud computing solution by the name Amazon Web Services (AWS). The tech giant even launched its own products in the market, started its own delivery service. Moreover, Amazon has started its own housing scheme for the employees followed by supermarkets.

Amazon also launched its own online video streaming platform by the name Amazon Prime. The company has ventured into several projects and has launched several services. All of this has taken place under Jeff Bezos.

Today, Amazon is counted among the top five industries in the entire world in terms of valuation. Has recently purchased a fleet of commercial planes for product shipping, and so much more, making Jeff Bezos the richest man in the entire world since 2018 until today.

After running Amazon for almost three decades, Jeff Bezos has announced that he will be stepping down as the CEO of Amazon. According to reports, Jeff Bezos has revealed that he will be stepping down from his position as the CEO on July 5, 2021.

The reports suggest that once Jeff Bezos steps down, Andy Jassy will be stepping up as the CEO of Amazon. At present, Andy Jassy is the CEO of Amazon’s cloud computing services, Amazon Web Services (AWS).

Jeff Bezos made the official announcement during the annual shareholder meeting for Amazon on Wednesday, May 26, 2021. He stated that stepping down as Amazon’s CEO on July 5 holds a very sentimental meaning to him. It was the same 27 years ago when he had founded Amazon back in 1994.

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