Apple recently crossed the $1 trillion mark and we really didn’t believe anyone could match them. At that time Amazon was almost $100 billion away from them. However, last evening Amazon became the second American company to reach the once unimaginable target. The shares of the e-tailer rose as high as $2050.5 which helped it cross the trillion dollar line. By the end of the day it closed at $2,039.51 which was just below the $1 trillion dollar threshold.
The best part about Apple is that whenever they introduce a product, it is never the first of its kind, but it’s always better. The delivery to the public is always better than its competitors. Amazon on the other hand sells excitement to people and its investors. Amazon captures 49 cents of every dollar spent in the American online retail market. Moreover, it has managed to keep its investors happy by continuously venturing into new fields and being successful.
At first, it changed the way people read books by introducing the Kindle. You can literally buy anything from technological devices to groceries for your home. Not only that, they established a new way to publish with CreateSpace as well as provide means to power the internet with Amazon Web Services. It’s not over yet. A faster delivery service for premium products as well as video streaming with Amazon Prime, and home solutions through the launch of Alexa was surely something that helped the company.
Moreover, Amazon India revealed a Hindi website to cater to a wider audience. Currently, none of its competitors in India which are Flipkart, Myntra, or Snapdeal have a local language in their app. This would give Amazon millions of new users.
While it took Apple to reach this landmark in 42 years, Amazon did it only 24. It is there on every corner of the retail market and no competitor; offline or online can keep up with the growth performance that Amazon is showing. Currently, Amazon CEO and founder, Jeff Bezos’ net worth is almost equal to Bill Gates and Warren Buffet combined. “We like to go down unexplored alleys and see what’s at the end. Sometimes they’re dead ends,” Bezos said. “Sometimes they open up into broad avenues and we find something really exciting.”
One of the great benefits for Amazon of this approach is that it is impossible to tell where reality ends and madness begins.
By Abhishek Aggarwal