With its blockbuster announcement Friday that it is buying upscale grocery chain Whole Foods, Amazon now plans to upend yet another industry: grocery stores.Īs consumers increasing rely on the Seattle-based e-commerce giant, it’s hard to remember a time when Amazon sold only one product: books. It’s also taken on cloud computing, tech gadgets and the entertainment world. (“Anything with a capital A,” he told Time.)īut two decades after its launch, Amazon has conquered online retail, racking up $136 billion in sales in 2016. ![]() Some analysts remained skeptical that Bezos could deliver on his plan to sell everything and anything. “That’s actually a very liberating expectation, expecting to fail,” he said to Time magazine when it named him Person of the Year in 2000.īy then, sales had ticked past $1 billion, but the company had yet to turn a profit. When Jeff Bezos launched in 1994, he gave himself a 30% chance of success - slightly better than the 1 in 10 odds for Internet start-ups.
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