The World's Most Innovative Companies 2018
Amazon is a cloud computing giant and the largest American e-commerce company. It was founded in 1994 by Jeff Bezos.
Originally known for selling books through its website (and later digital versions via its Kindle e-reader), Amazon has built up a customer service, inventory, and shipping empire that allows the site to offer everything from clothes to lawn furniture to janitorial supplies. It also sells digital content like movies, music, and apps. Its Amazon Web Services arm is a multibillion-dollar provider of cloud-based services for millions of business customers around the world, including government agencies and universities. And it’s a major player in consumer electronics--not only by offering devices such as Fire tablets and TV boxes, but also via its Alexa AI assistant service, which made news at the CES 2017 gadget show by being built into everything from LG refrigerators to Ford cars.
Amazon is even a Hollywood player, taking home two awards at the 2017 Golden Globes. Yet the basics of Bezos's business philosophy--focusing on long-term customer loyalty over short-term profits and never-ending expansion into new businesses--have been surprisingly consistent over the years. And Amazon's obsession with efficiency explains why it's now delivering products in just two hours via its Prime Now service, and why it hopes to be among the first e-commerce companies to deploy its own fleet of drones with Amazon Prime Air, a future fleet of autonomous aerial vehicles that will deliver packages under five pounds.
In an interesting twist, Amazon has made significant investments in brick and mortar, opening its first bookstore in Seattle in late 2015 and since then expanding to 13 locations. In 2017, the company completed its acquisition of Whole Foods and in early 2018 opened an Amazon Go grocery store to the public at the company's headquarters in Seattle.