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), is an American electronic commerce and cloud computing company based in Seattle, Washington that was founded by Jeff Bezos on July 5, 1994.
The tech giant is the largest Internet retailer in the world measured by revenue and market capitalization, and second largest after Alibaba Group in terms of total sales.
In 2016, Dutch, Polish, and Turkish language versions of the German Amazon website were also launched.
The company was founded as a result of what Jeff Bezos called his "regret minimization framework," which described his efforts to fend off any regrets for not participating sooner in the Internet business boom during that time.
In September 1994, Bezos purchased the URL and briefly considered naming his online store Relentless, but friends told him the name sounded a bit sinister.
The domain is still owned by Bezos and still redirects to the retailer.
Amazon's initial business plan was unusual; it did not expect to make a profit for four to five years.
The company began as an online bookstore, which was an idea spurred off with a discussion with John Ingram of Ingram Book (now called Ingram Content Group), along with Keyur Patel who still holds a stake in Amazon.Bezos placed a premium on his head start in building a brand and told a reporter, "There's nothing about our model that can't be copied over time. And it still built a huge, multibillion-dollar company. Brand names are more important online than they are in the physical world." After reading a report about the future of the Internet that projected annual Web commerce growth at 2,300%, Bezos created a list of 20 products that could be marketed online.He narrowed the list to what he felt were the five most promising products, which included: compact discs, computer hardware, computer software, videos, and books.Barnes & Noble sued Amazon on May 12, 1997, alleging that Amazon's claim to be "the world's largest bookstore" was false because it "...isn't a bookstore at all.It's a book broker." The suit was later settled out of court and Amazon continued to make the same claim.