Amazon is Amazing. That statement fits Amazon well. Amazon, as company, is really amazing. I will try to break down why Amazon is Amazing.
- Amazon is the biggest e-commerce company in the world, in 2017 its revenue is $177 billion.
- Amazon is also the biggest cloud IaaS company in the world, with market share over 30%, in 2017 its AWS unit revenue is $17 billion
- Amazon is leading for smart speaker and voice assistant with Alexa, its Amazon Echo market share is over 70% in USA, far above Google Home (23%)
- Amazon is the 3rd biggest company in the world in market valuation with market cap over $700 billion, just last week it surpass Microsoft and now trailing Apple (1st) and Alphabet Google (2nd)
- Amazon is now in attempt to disrupt a lot of industries, ranging from grocery, entertainment, music streaming, video streaming, shipping, healthcare, advertising. It’s safe to say no industry is safe from amazon when it comes to consumer.
- Jeff Bezos, Amazon Founder and CEO, is the richest person on earth with net worth around $120 billion. He is really amazing as businessman. He has incredible frameworks. He is risk taker.
How does Amazon do that ? I would say the biggest contribution for Amazon success lies in its founder and CEO, Jeff Bezos. As I said, he has incredible frameworks. For his businesss, he puts customer as its priority. But what he means to put customer as priority is really different with other companies. Amazon really cares about its customer. Say you are living in USA now and member of Amazon Prime, you can order grocery online and within 2 hours, it will come to your home. You can watch any video you want if you are member of Amazon Prime. You can build any startup you want without worrying about infrastructure as Amazon offers its service.
Also, Jeff Bezos is never afraid of taking risks. Amazon is the first company that offers cloud IaaS service in 2006. It’s like a gamble since at that time, no one and no company really need tech infrastructure for building a company. But Jeff Bezos dare to take risk, placing its massive investment in AWS, and eventually in 2017, it’s leading for IaaS cloud market with market share over 30% with revenue around $17 billion. Yes, $17 billion in 12 years. It’s really amazing.
So if you want to build successful company, you can follow some Bezos way, put your customer first and don’t be afraid to take risks.