![]() The chart below depicts Amazon’s continued focus on long-term growth, with profit remaining near $0 or below, and revenue rising.ġ994: Jeff Bezos quits his job and launches Amazon out of his garage. However, the company has continued to plow their revenue back into growth. Within two months, Amazon’s sales were up to $20,000/week. By 1999, the value of the Kleiner Perkins Caufield & Byers investment in Amazon created returns of over 55,000%. In 1997, Amazon went public to raise additional capital. So, I told them that I thought there was a 70 percent chance that they would lose their whole investment, which was a few hundred thousand dollars, and they did it anyway.” Follow on FundingĪmazon raised a series A of $8M from Kleiner Perkins Caufield & Byers in 1995. He was making a bet on his son, as was my mother. So he wasn’t making a bet on this company or this concept. My dad’s first question was, “What’s the Internet?” Okay. And you know, that was a very bold and trusting thing for them to do because they didn’t know. “The first initial start-up capital for came primarily from my parents, and they invested a large fraction of their life savings in what became. The initial startup capital came from his parent’s personal savings.įrom an interview with Jeff Bezos, for the Academy of Achievement: The goal was to be able to evacuate humans. ‘The whole idea is to preserve the earth’ he told the newspaper …. ![]() The Founder’s StartĪs a child, he spent summers at his grandfather’s ranch in southern Texas, “laying pipe, vaccinating cattle and fixing windmills”. The 18-year-old Bezos “said he wanted to build space hotels, amusement parks and colonies for 2 million or 3 million people who would be in orbit. It turns out, it was just the beginning…. ![]() It’s highly unusual, and that started me about thinking, “What kind of business plan might make sense in the context of that growth?”Īfter making a list of the ‘top 20’ products that he could potentially sell on the internet, he decided on books because of their low cost and universal demand. You know, things just don’t grow that fast. “The wake up call was finding this startling statistic that web usage in the spring of 1994 was growing at 2,300 percent a year. At 30 years old, he began to see the internet revolution take place, and made the decision to quit his job and start an internet company. The year was 94′ and Bezos was working diligently on Wall Street.
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