BusinessE-Commerce

Amazon pips Microsoft to become the world’s most valuable public company

Amazon Eco Dot manufactured by Foxconn

Amazon, a company which defines the online marketplace. It has been around since the revolution of the internet took place. Jeff Bezos, the Chief Executive Officer and the founder of Amazon, started this company in 1995, although it went public in 1997, it was previously named as ‘Cadabra’. It sold its first book in 1995 which went by the name of Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought by Douglas Hofstadter. It has not stopped since then.

The company was started in a house garage and now is one of the biggest companies in the world. Its journey is fascinating, to say the least. The story of Jeff Bezos and Amazon is no less than that of Steve Jobs or Bill Gates. He has worked equally hard if not harder and is now getting rewards for the same. His company is making headlines for all the right reasons. Amazon is now synonymous to online shopping not only in America but in the whole world. It has also conquered the Indian market along with Flipkart.

Amazon has not stopped there in India, it recently introduced its Amazon Pay feature to the Indians. The company is now working on accepting the BHIM and UPI interface so that it can open up to more sources and the ever-growing digital payments market which is to reach $1 trillion by 2023. That said, Amazon currently is the hottest name around for the right reasons. It has managed to grab headlines of all the newspapers as it became the most valuable company in the world.

Amazon, after the sharemarket closed on Monday became the most valued public company. It overtook Microsoft and other major tech companies. It finished the day with $796.8 billion which is more than Microsoft, Google and Apple. It overtook Microsoft and has created a tiny $15 billion gap between it and the Microsoft which sits pretty in the second spot. Jeff Bezos has overlooked the success of Amazon since day one and is the proudest man.

The revenues of Amazon have grown at an uncountable pace. Its revenue in 2013 was $74.5 billion which jumped to $177.9 in 2017 and might reach $232.3 billion in Financial Year of 2018. Amazon had reached $1 trillion before the Wall Street sell-off in late 2018. That said, Amazon was largely helped by the downfall of Apple. The worth of the iPhone makers has been downed to $702 billion which makes it the fourth largest company in the world now. Apple is behind Google, Microsoft, and Amazon.

– Unmesh Phule

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