Defining success

Amazon@30 has lessons for startup ecosystem

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Thirty years after starting from Jeff Bezos' garage in Bellevue, Washington, Amazon is now a shopping powerhouse, set to sell an estimated $550 billion worth of goods online in the US during 2024. Just ahead of its 30th anniversary recently, the biggest e-commerce company hit a market value of $2 trillion for the first time. In 1994, Mr Bezos had quit his job in an investment bank to "capitalise" on the potential of the internet, putting in $10,000 from his personal savings to incorporate a company called Cadabra, which was soon changed to Amazon, inspired by the South American river, as the earlier name didn't click. As the Seattle-headquartered e-commerce-to-AWS-to-Prime Video major prepares for the next trillion in market value while integrating its businesses, there are takeaways for the Indian startup world.