Jeff Bezos: The Master Merchant of eCommerce

But he had humble beginnings.  Born to teenaged parents, Jeff was brought up by his mom and stepdad Mike Bezos without any memories of his biological dad.   When Bezos was in the final year at Princeton University, he refused many lucrative job offers including the ones from Intel and Bell.

Jeff Bezos is not just a rich businessman; he is the richest person alive on the planet. He started his venture from a garage and turned it into the most popular eCommerce shopping portal on earth. According to Inc. magazine, Bezos’ total wealth has been estimated to be around $163 billion, according to Forbes).

But he had humble beginnings.  Born to teenaged parents, Jeff was brought up by his mom and stepdad Mike Bezos without any memories of his biological dad.   When Bezos was in the final year at Princeton University, he refused many lucrative job offers including the ones from Intel and Bell.

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After getting a degree in electrical engineering and computer science, he joined a startup known as FITEL, where he learnt how to run startups. Soon he became the director of customer service in the company.

His career was moving in the right orbit at the Wall Street, as he became senior Vice President at D E Shaw in 1994. Just like Bill Gates, he was stunned to see the growth of the Internet usage by 2300% in a year.

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However, nobody was using the Internet for selling goods. He studied the most profitable mail order businesses and decided to sell books on the web. Amazon experienced meteoric success right from the beginning.

Within 6 months of its inception, it started selling books in all of the 50 states in the US and in 50 locations overseas.o, in early 1995, the first eCommerce platform was making $20,000 per week from its sales proceeds.
Bezos hadn’t anticipated any profit in his business plan for about four to five years, but it made a profit of $5 million in the year 2001.

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