(Primeday 2022 special) Amazon Bezos succes story

 Jeffrey Preston Jorgensen was born on January 12th in Albuquerque New Mexico to a teenage mother, Jacqueline, and his biological father, Ted Jorgenson. When he was born, his mother was just 17 and still in high school. His eighteen year old father didn't have much money and had alcohol issues. The jargon sins were married less than a year before Jacqueline. Taking their infant son with her. When Bezos was four years old, his mother remarried Miguel Bezos. A Cuban refugee who had fled an oppressive regime and who didn't speak a word of English when he first arrived a few month. But with a strong work ethic and determination in life. He worked his way to university of Albuquerque. To obtain a degree in mechanical engineering. Which led him to get a job later on at Exxon as an engineer. Miguel decided to adopt Jeff after the weddings. And took the responsibility to raise him. His surname was then changed to basis the family then moved to Houston Texas, where Jeff spent most of his childhood and. Much of Jeff Bezos drive and ambition likely came from his new father. He has been a constant inspiration for him. Jeff was a gifted child. It had been stunned that at the age of only three. Tired of sleeping in a crib, he found a screwdriver and took the crib apart. He then moved to my enemy with his family as a teenager where he attended palmetto high school. He was a brilliant student, got straight as and was valedictorian of his class. Bezos showed early signs of technical proficiencies. He quickly developed a passion for computers and excelled at creating software programs. As an avid young innovator, he turned his parent's garage into a laboratory and experimented around his house as a child. Young Jeff was always inventing something. Once he invented a solar microwave. And even a door buzzer to keep his siblings out of his room. It was during high school that he started his first business, the dream institute. An educational summer camp that promoted creative thinking for young students. After graduating with honors from high school. He briefly turned to physics before committing to his love for computers. And he graduated from Princeton University in 1986. With a high distinction in electrical engineering and computer science. Bezos childhood may have contributed to success with success. And maybe it helped him create that drive and ambition and a relentless need to prove him self. Being adopted is something that Bezos shares with two other great internet entrepreneurs. Steve Jobs and Larry Ellison. After his graduation at Princeton, he took on various jobs that helped him develop his entrepreneurial spirit even. At 28. Bezos was working for the investment firm in Wall Street, Manhattan and. 

As a computer specialist. He soon became the firm's youngest senior vice president. There he met novelist mackenzie Tuttle, who was a research associate at the farm. She soon became his wife as the couple married a year later. They would have four children, three sons and a daughter they adopted from China. During the rise of the internet in the S, Bezos noticed that it was growing at an incredible rate. 

More than 2300 percent a year. And he saw its enormous potential. He had never seen anything that grew that fast. This sparked his imagination and he embarked on the entrepreneurial path. His first steps were to research the top 20 mail-order companies at the time. Observing that something was missing. He saw an opportunity on the horizon. He decided that an online company could offer this missing service. And what was the first best product to sell online. Works. Indeed, there were no book mail-order companies yet. In 1994, having had always been an avid. Phasers decided to establish an online book store. Against his parents and even his boss's advice to reconsider, he left his job at D E Shaw to start his own company at 30. And decided to leave New York. At this time. Bill Gates was already dominating the world of personal computers with Microsoft from his hometown of Seattle. I graduated from Princeton University in 1980. 

With a high distinction in electrical engineering and computer science. Bezos childhood may have contributed to success with success. And maybe it helped him create that drive and ambition and a relentless need to prove himself. Being adopted is something that Bezos shares with two other great internet entrepreneurs. Steve Jobs and Larry Ellison. After his graduation at Princeton, he took on various jobs that helped him develop his entrepreneurial spirit even. At 28. Bezos was working for the investment firm in Wall Street, Manhattan and. 

As a computer specialist. He soon became the firm's youngest senior vice president. There he met novelist mckenzie Tuttle, who was a research associate at the firm. She soon became his wife as the couple married a year later. They would have four children, three sons and a daughter they adopted from China. During the rise of the internet in the nineteen nineties. 

Bezos noticed that it was growing at an incredible rate. More than 2300 percent a year. And he saw its enormous potential. He had never seen anything that grew that fans. This sparked his imagination and he embarked on the entrepreneurial path. His first steps were to research the top 20 mail order companies at the time. Observing that something was missing. He saw an opportunity on the horizon. He decided that an online company could offer this missing service. And what was the first best product to sell online. Works. Indeed, there were no book mail-order companies yet. In 1994, having had always been an avid. Bezos decided to establish an online book store. Against his parents and even his boss's advice to reconsider, he left his job at D E Shaw to start his own company at 30. And decided to leave New York. At this time. Bill Gates was already dominating the world of personal computers with Microsoft from his hometown of Seattle. Bezos decided to move there with his wife seems there was plenty of tech talent around. 

He saw it as a place of opportunity and new beginnings. He was aware that most startups don't work and wasn't confident and surer of what would happen. 

People were saying that the company would never be profitable, but besos decided to take the leap anyway. His parents also ended up to support his decision and invested what they'd saved for retirement in their son's venture. It was later amply rewarded. After writing his business plan on a cross country road trip from New York City to Seattle. Bezos and his wife settled into their new home in belleview. And their new home became his office. He began developing the software for the site in his garage with a handful of employees. There was not much investment in the beginning. And Bezos would drive the packages to the post office himself. Even had his desk made from doors to save money. This was one of his main principles frugality. We try enough to spend money on things that don't matter to customers. On July 6, 1995. A few months later, after moving, the startup sold its first book. And Bezos new business was launched. Amazon. Named after the south American biggest river in the world. And it started in a garage. With financial and moral support from family and friends, they started shipping more books. Sales took off immediately. By 1996, the company reached 15 million dollars in sales. Within the first few days I knew this was going to be huge base of told time magazine. It was obvious that we were on to something much bigger than we've ever dared to hold. In 1997, three years after it was founded, Amazon went public with an IPO of 18 dollars. After raising 54 million dollars. Bezos became a millionaire. At the end of trading day on February 2020 shares closed at more than 2000 dollars. Making such an investment at his IPO worth more than 12 million pounds as of May 2. In other words. If you invested in Amazon in its early days, you too would have been a millionaire today. He had worn many early investors that there was a 70 percent chance that Amazon would fail or go bankrupt. But the employees worked hard and Bezos even harder to drive. The company grew fast into a large worldwide business. Bezos later claimed Amazon is the earth biggest bookstore. Although Amazon was originally an online bookstore. Bezos and always planned to expand to other products. In 1998 started selling music and videos. One day he emailed randomly 1000 selected customers to see what else they would want to buy from the online retailer. Unsurprisingly, the list came back incredibly long. The now self made billionaire recalled one person writing back windshield wiper blades because I really need windshield wiper blades because I. He then realized he could sell anything this way. Thanks to an email to 1000 random people. Amazon turned into the every.