History of Amazon (company) in Timeline

Amazon.com, Inc. is a large American technology company known for its online retail operations. The company is also involved in cloud computing, online advertising, digital streaming, and artificial intelligence. Amazon is considered one of the "Big Five" American technology companies, alongside Alphabet, Apple, Meta, and Microsoft.

July 5, 1994: Amazon is Founded

On July 5, 1994, Jeff Bezos founded Amazon in Bellevue, Washington. Initially, the company was an online marketplace for books, but it quickly expanded its product offerings.

May 1997: Amazon Goes Public

In May 1997, Amazon went public, marking a significant milestone in its growth trajectory.

1998: Expansion into Music and Video Sales and International Markets

In 1998, Amazon expanded its product offerings to include music and videos. The company also began its international expansion by acquiring online booksellers in the UK and Germany.

2000: Partnership and Subsequent Lawsuit with Toys "R" Us

In 2000, Amazon and Toys "R" Us initiated a 10-year exclusive agreement, valued at US$50 million annually plus a percentage of sales, positioning Toys "R" Us as the sole provider of toys and baby products on Amazon's platform.

2001: Partnership with Borders Group

In 2001, Amazon entered a similar agreement with Borders Group, where they would co-manage Borders.com as a co-branded service.

2002: Launch of Amazon Web Services (AWS)

In 2002, Amazon launched Amazon Web Services (AWS), initially providing APIs for web developers to build applications using Amazon's e-commerce platform.

2004: Expansion of AWS Services

In 2004, AWS expanded its offerings to include website popularity statistics and web crawler data from Alexa Web Information Service.

2004: Toys "R" Us Sues Amazon

In 2004, Toys "R" Us filed a lawsuit against Amazon, alleging that Amazon had allowed third-party sellers to offer products in categories where Toys "R" Us held exclusive rights, due to a perceived lack of variety in Toys "R" Us inventory.

2006: Launch of Fulfillment by Amazon and S3

In 2006, Amazon introduced the Fulfillment by Amazon program, enabling individuals and small businesses to sell through Amazon's infrastructure. The company also launched Simple Storage Service (S3) as part of AWS.

2006: Court Rules in Favor of Toys "R" Us

In 2006, a court ruled in favor of Toys "R" Us, permitting them to terminate their agreement with Amazon and establish their own independent e-commerce website. Subsequently, Toys "R" Us received US$51 million in damages.

2007: Borders Ends Partnership with Amazon

In 2007, Borders Group opted out of the agreement with Amazon, planning to establish its own online store.

2008: Launch of Elastic Compute Cloud (EC2)

In 2008, AWS further expanded with the launch of Elastic Compute Cloud (EC2), enabling companies to rent computing power from Amazon.

2008: Growth in Website Traffic

In 2008, Amazon.com recorded 615 million annual visitors.

October 18, 2011: Partnership with DC Comics and Exclusive Digital Rights

On October 18, 2011, Amazon.com secured an exclusive digital rights partnership with DC Comics, covering popular titles like Superman, Batman, and others. This partnership led prominent bookstores, including Barnes & Noble, to remove these titles from their physical shelves.

December 2011: Backlash Against Amazon's Price Check App Promotion

In December 2011, Amazon faced criticism from small businesses for a one-day promotion of its new Price Check app, which offered a 5% discount to shoppers who used the app to compare prices in physical stores and then purchased the same item from Amazon.

May 24, 2012: Amazon Ends ALEC Membership

On May 24, 2012, Amazon discontinued its corporate membership with the American Legislative Exchange Council (ALEC) in response to protests at its shareholders' meeting.

2013: Amazon's Lobbying Expenditures

In 2013, Amazon spent approximately $3.5 million on lobbying the United States federal government.

July 2014: FTC Lawsuit Regarding In-App Purchases

In July 2014, the Federal Trade Commission (FTC) filed a lawsuit against Amazon, alleging that the company was promoting in-app purchases to children without obtaining parental consent.

2014: Amazon's Lobbying Expenditures

Amazon's lobbying expenditures increased to about $5 million in 2014.

2014: Amazon Expands Lobbying for Drone Delivery Program

In 2014, Amazon expanded its lobbying activities, specifically to seek approval from the Federal Aviation Administration (FAA) for its drone delivery program.

2015: Amazon's Lobbying Expenditures

In 2015, Amazon's lobbying expenditures rose again, reaching around $9.5 million.

August 2017: Acquisition of Whole Foods Market

In August 2017, Amazon acquired Whole Foods Market for US$13.4 billion, significantly expanding its physical retail presence.

2017: Dominance in U.S. E-Retail and Global Customer Base

In 2017, Amazon established itself as the leading e-retailer in the U.S. with approximately US$178 billion in net sales. Globally, the company had over 300 million active customer accounts.

2019: Amazon Bans Skin-Lightening Products

Amazon prohibited the sale of skin-lightening products in 2019 following pressure from health and environmental activists in Minnesota.

2019: Significant Increase in Amazon's Lobbying Efforts

Amazon significantly increased its lobbying efforts in 2019, spending $16.8 million and employing a team of 104 lobbyists.

2019: Amazon Announces Fourth Quarter 2019 Results

In 2019, Amazon announced its fourth-quarter results, which subsequently led to its market capitalization exceeding US$1 trillion in early February 2020.

February 2020: Amazon's Market Capitalization Exceeds $1 Trillion Again

In February 2020, Amazon's market capitalization surpassed US$1 trillion once more, following the release of its fourth-quarter 2019 earnings report.

September 2020: Amazon Receives FAA Certification for Drone Delivery

In September 2020, Amazon moved a step closer to implementing its drone delivery program after receiving a crucial certificate from the Federal Aviation Administration (FAA).

February 2, 2021: Jeff Bezos Announces CEO Transition

On February 2, 2021, Jeff Bezos announced he would step down as CEO to assume the role of executive chair of Amazon's board.

July 5, 2021: Andy Jassy Becomes CEO

On July 5, 2021, Andy Jassy, the former CEO of AWS, replaced Jeff Bezos as Amazon's CEO.

2021: Amazon Surpasses Walmart as World's Largest Retailer

In 2021, largely driven by its Prime membership, Amazon surpassed Walmart to become the world's largest retailer outside of China.

March 2022: Acquisition of Metro-Goldwyn-Mayer

In March 2022, Amazon acquired the Metro-Goldwyn-Mayer (MGM) studio, further expanding its content production capabilities.

2022: Significant Increase in Website Traffic

By 2022, visits to amazon.com had significantly increased, surpassing 2 billion visits per month, making it the 14th most visited website globally.

2022: Dismissal of Lawsuit by New York State Court

In 2022, the New York state court of appeals dismissed a lawsuit filed by state attorney-general Letitia James against Amazon.

January 2023: Job Cuts at Amazon

In January 2023, Amazon cut over 18,000 jobs, mostly in consumer retail and human resources, as part of a cost-cutting initiative.

October 2023: Amazon's Website Ranking

As of October 2023, Amazon's website ranked as the 12th most visited globally, with 82% of its traffic originating from the United States.

November 8, 2023: Jeff Bezos's Stock Sale Plan

On November 8, 2023, a plan was adopted for Jeff Bezos to sell about 50 million shares of Amazon over the following year, concluding by January 31, 2025. The initial phase involved the sale of 12 million shares for roughly $2 billion.

2023: Amazon Achieves Dominant Market Position

By 2023, Amazon had become the world's leading online retailer, marketplace, and provider of various services like cloud computing and live streaming, based on revenue and market share.

2024: Ring Halts Sharing Footage Without Warrant

In 2024, after years of criticism for providing law enforcement with footage from its Ring home security cameras without a warrant, Ring discontinued this practice.