The battle between the top 2 contestants in any field whether it is sports, entertainment or business is so exciting. Today is no different as Amazon became the second company in the world to touch the $1 trillion mark after Apple.
The shares of Amazon has touched an all-time high $2,050.50 before ending up at $2,039.51.
Apple has touched $1 trillion mark on August 2nd, 2018. In a gap of a month, Amazon has joined Apple for a brief period of time.
Thanks to Apple’s flagship product iPhone, due to which the company was able to cross the unimaginable $1 trillion mark.
Even though the cost of the iPhone is touching peaks, people love to spend on iPhone due to the quality and the design if the phone
An interesting fact is that Apple has taken 38 years to reach the $1 trillion mark whereas Amazon has taken just 21 years. That is 17 years less than that of Apple.
History of Amazon:
Amazon was founded in the year 1994 by Jeff Bezos. The birth of Amazon started with an online bookstore in Jeff Bezos garage.
Since then there was no looking back. Amazon grew day by day to become the largest E-commerce site in the world today.
Since the Beginning of Amazon, Jeff Bezos always wanted to sell products ranging from a teaspoon used in the kitchen to the products used in space.
Jeff originally wanted to name the company as “Cadabra”. Later he referred to the dictionary and chooses the name Amazon which is the largest river in the world.
After working hard for 21 long years, finally, Jeff Bezos has stood as the richest man on the Earth. His total worth is more than the combined worth of Bill Gates and Warren Buffet.
Amazon has touched the $1 trillion mark today and became the second US company to cross the mark after Apple.
Services provided by Amazon and how it reached $1 trillion mark:
Amazon hasn’t left any stone unturned in its journey to become the largest E-commerce site in the world. From a $0.1 product to the costliest product available online, it has covered everything.
Amazon has laid its hands on each and every service. AWS stands for Amazon web services provide cloud services. It has the kindle which is used to read books online. Amazon has developed Alexa which is a virtual assistant which is used by millions of people.
Amazon has recently launched Amazon prime by using which one can stream new movies and music. All the Amazon Prime users are eligible for the fast and free delivery. According to a report, 100 Million people have subscribed and using Amazon prime.
Among all the services enlisted above, Amazon’s cloud service is referred to as the “crown jewel”.
Analysts around the world are admitting that Amazon will stay above the $1 trillion mark as it is offering A to Z products across the world. Some even went onto say that “It is just the beginning of Amazon”.
The current net worth of Amazon is $995 billion and it doesn’t take a long time to reach the $1 trillion mark again.