Amazon achieved a market value of $1,000,000,000,000
An Amazon worker. (credit: Bloomberg / Getty Images)
After 24 years of operation, Amazon passed a market value of $1 trillion yesterday. It is the second company to reach that arbitrary milestone; fellow tech giant Apple became the first only a few weeks ago. The company's value has fallen slightly below that threshold since, but its continued growth is likely, according to most analysts.
Founded in 1994, Amazon initially sought simply to launch an online storefront for books to challenge Barnes & Noble and other big book retailers. The company went on to build one of the world's most advanced logistical operations to fuel a broad-ranging e-commerce business. It has also offered a wide range of digital content, purchased major media properties like Twitch, and released its own tablets and smart-home hardware products.
According to the The New York Times, Amazon "captures 49 cents of every e-commerce dollar in the United States." Its market value is greater than those of the 10 biggest brick-and-mortar retailers combined.
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