Amazon is an American electronic commerce company that was originally founded in 1994 in Seattle, USA. Amazon is also recognized as the world’s largest online retailer. The company started off primarily selling books, but has since expanded its catalogue to clothing, electronics, music and many more goods. Amazon is also highly known for its Amazon Kindle e-book reader, which was first released in 1997.
As of 2005, the company created Amazon Prime, a paid service, in which members were eligible for faster two-day or even one-day shipping on their orders and allowed for access to Amazon Instant Video, which is Amazon’s video streaming service. As of September 2016, 52 percent of the U.S. Amazon users were Amazon Prime subscribers.
Amazon has seen significant growth to say the least over the past several years, often attracting customers who look for goods from brand names at more reasonable prices, often cutting out the extra cost of purchasing at a retailer. As a result, Amazon earned approximately 135 billion U.S. dollars in sales revenues in 2016, ranking first among leading publicly traded internet companies. Additionally, Amazon earned a net income of 2.4 billion U.S. dollars in 2016, an improvement over the preceding year's net income of 596 million U.S. dollars.