Difference between revisions of "Amazon in India"
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===== 1-Click Patent ===== | ===== 1-Click Patent ===== | ||
Amazon has been criticized for allegedly using patents as a competitive roadblock. The most well-known example is the "1-Click patent". In December 1999, the Free Software Foundation announced a boycott of Amazon due to their use of the 1-click patent against rival Barnes & Noble's website. In September 2002, the boycott was called off. The company was given a patent on February 22, 2000, for an Internet-based consumer referral system, also known as an "affiliate program." Tim O'Reilly and Charlie Jackson, both industry leaders, spoke out against the patent, and O'Reilly wrote an open letter to Amazon CEO Jeff Bezos, criticizing the 1-click patent and the affiliate program patent, and stated that Bezos was attempting to limit the development of ecommerce. The USPTO ordered a re-examination of the "1-Click" invention on May 12, 2006. | Amazon has been criticized for allegedly using patents as a competitive roadblock. The most well-known example is the "1-Click patent". In December 1999, the Free Software Foundation announced a boycott of Amazon due to their use of the 1-click patent against rival Barnes & Noble's website. In September 2002, the boycott was called off. The company was given a patent on February 22, 2000, for an Internet-based consumer referral system, also known as an "affiliate program." Tim O'Reilly and Charlie Jackson, both industry leaders, spoke out against the patent, and O'Reilly wrote an open letter to Amazon CEO Jeff Bezos, criticizing the 1-click patent and the affiliate program patent, and stated that Bezos was attempting to limit the development of ecommerce. The USPTO ordered a re-examination of the "1-Click" invention on May 12, 2006. | ||
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+ | ===== Canada ===== | ||
+ | Amazon has a Canadian website, but up until 2010, they could not have any offices, warehouses, call centers or fulfillment centers in the country because of a law banning foreign booksellers. Instead, Amazon setup warehouses just outside Canada and struck a deal with Canadian postal services. Amazon was eventually sued by the Canadian Booksellers Association claiming that Amazon was attempting to bypass Canadian law. The lawsuit was eventually dropped. | ||
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+ | In 2017, Amazon was required to pay over $1 Million by the Competition Bureau for failure to provide transparent pricing. They alleged that Amazon was artificially raising the prices of listings on their site in order to make their other listing prices seem even cheaper. | ||
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==References== | ==References== |
Revision as of 05:22, 27 January 2022
Contents
History
Jeff Bezos founded Amazon in his garage in Seattle after leaving his job in finance. Bezos set out to build the world's first online bookstore. In the first 30 days of the company, Amazon.com sold books in 46 different countries, and in two months reached $20,000 in sales per week[5]. The company went public in 1997 and raised $54 million, and within two years outgrew competitors despite analysts concerns. At the end of 1999, Amazon had shipped over 20 million items to over 150 countries. In 2000, Amazon changed the game by allowing independent sellers to sell items alongside Amazon's own listings[6]. In 2003, the company turned a profit for the first time. In 2007, Amazon released its Kindle e-reader. In 2011, released the Kindle Fire its tablet. Amazon created a cloud computing and video streaming service in 2006 and a studio that develops movies and TV shows in 2010. Finally, they created a fine art marketplace in 2013. Amazon made two of its biggest acquisitions when it Acquired Zappos and Whole Foods. In 2015, Amazon beat out Walmart as the world's most valuable retailer. When Amazon's market cap reached $250 billion, Jeff Bezos became the richest man in the world.
Jeff Bezos
Early Life
Jeff Bezos was born on January 12, 1964, in Albuquerque, New Mexico. His mother, Jacklyn Gise Jorgensen, was a teenager when she had Jeff and his biological father, Ted Jorgensen left after being married for less than a year. When Bezos was 4 years old, his mother remarried Mike Bezos who is a Cuban immigrant. Bezos recalls messing with electrical contraptions around his house as a child. He moved to Miami with his family as a teenager and graduated valedictorian of his high school.
College and Early Career
Bezos graduated summa cum laude from Princeton University where he studied computer science and electrical engineering.
After graduating, Bezos worked on Wall Street at firms including Fitel, Bankers Trust and D.E. Bezos became D.E. Shaw's youngest vice president ever. It was at this job that Bezos met his wife, MacKenzie. Ultimately, Bezos and his wife decided to leave their finance jobs and move to seattle to found Amazon.
In 2018, Jeff Bezos became the richest man in the world. During his tenure, Bezos purchased businesses like Zappos, Whole Foods and The Washington Post.
Philanthropy
Bezos also started the Day One Fund which focuses on "funding existing non-profits that help homeless families, and creating a network of new, non-profit tier-one preschools in low-income communities."[7] He later also created the Earth Fund to try and combat the effects of climate change.
In 2021, Bezos stepped down as CEO of Amazon to focus more on his space company, Blue Origin.
Personal Life
Bezos met his wife, MacKenzie Tuttle, when they worked at D.E. Shaw in NYC. Bezos was as a senior VP and MacKenzie was an administrative assistant. They dated for just three months before getting engaged and married in 1993. Bezos and MacKenzie had four children, three sons and an adopted daughter.
MacKenzie is credited as being an important part of the success of Amazon. She helped create Amazon's first business plan and was the company's first accountant.
In 2019 Bezos and MacKenzie got divorced as details emerged of an affair between Bezos and his now partner, Lauren Sanchez. As part of the divorce settlement, Bezos' stake in Amazon was cut from 16 percent to 12 percent, putting his stake at nearly $110 billion and MacKenzie's at more than $37 billion, making her one of the richest women in the US. She also pledged to give away at least half of her wealth, part of the Giving Pledge made by the Gates and Buffet families.
Controversy
Anti-Competitive
1-Click Patent
Amazon has been criticized for allegedly using patents as a competitive roadblock. The most well-known example is the "1-Click patent". In December 1999, the Free Software Foundation announced a boycott of Amazon due to their use of the 1-click patent against rival Barnes & Noble's website. In September 2002, the boycott was called off. The company was given a patent on February 22, 2000, for an Internet-based consumer referral system, also known as an "affiliate program." Tim O'Reilly and Charlie Jackson, both industry leaders, spoke out against the patent, and O'Reilly wrote an open letter to Amazon CEO Jeff Bezos, criticizing the 1-click patent and the affiliate program patent, and stated that Bezos was attempting to limit the development of ecommerce. The USPTO ordered a re-examination of the "1-Click" invention on May 12, 2006.
Canada
Amazon has a Canadian website, but up until 2010, they could not have any offices, warehouses, call centers or fulfillment centers in the country because of a law banning foreign booksellers. Instead, Amazon setup warehouses just outside Canada and struck a deal with Canadian postal services. Amazon was eventually sued by the Canadian Booksellers Association claiming that Amazon was attempting to bypass Canadian law. The lawsuit was eventually dropped.
In 2017, Amazon was required to pay over $1 Million by the Competition Bureau for failure to provide transparent pricing. They alleged that Amazon was artificially raising the prices of listings on their site in order to make their other listing prices seem even cheaper.
References
- ↑ https://www.digitalcommerce360.com/article/amazon-sales/
- ↑ https://www.nytimes.com/2021/07/06/business/jeff-bezos-steps-down-as-amazons-ceo-handing-the-reins-to-andy-jassy.html
- ↑ https://www.reuters.com/investigates/special-report/amazon-india-operation/
- ↑ https://www.reuters.com/investigates/special-report/amazon-india-operation/
- ↑ https://www.biography.com/business-figure/jeff-bezos
- ↑ https://www.history.com/this-day-in-history/amazon-opens-for-business
- ↑ https://www.biography.com/business-figure/jeff-bezos