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Amazon Reaches the $1 Trillion Market Value

Amazon reached a new milestone by reaching its $1 trillion market value, making them the second company to reach this market value along with apple who reached the milestone first in early August.

Amazon, an American electronic commerce and cloud computing company based in Seattle, Washington, and were founded by Jeff Bezos, became the second trillion dollar. It was founded in 1994 and now the world’s biggest internet retailer and employs more than 550,000 people.

Jeff Bezos, chief executive and founder of Amazon started off as a bookseller and now is the richest man in the world with a net worth of more than $190 billion.

The Internet retailer has its shares jump up to 2% with $2,050.50 per share but eventually fell to $2,039.51. Amazon before being what it is now also was plowed back with its profits with the company’s growth and expansion on the online retail business. The company generates over $178 billion annually. There is already 500,000 staff in the company.

Neil Saunders, managing director of GlobalData Retail said that Amazon did an extraordinary effort to reach a market capitalization of over $1 trillion and the effort was impressive.

Amazon is still young especially in terms of grocery and furniture. But the company was already mature in sectors like books and media.

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