Is Amazon a fintech?
Is Amazon a fintech?
Some say its one of the biggest actually!
Amazon Finance Technologies (FinTech) Payments systems disburse Accounts Payable (AP) payments to Amazon’s suppliers and service providers. In 2021, FinTech AP systems disbursed millions of payments in over 150 countries and in more than 50 currencies through various payment options
Amazon.com, Inc. is an American multinational technology company based in Seattle, Washington. It was founded in 1994 by Jeff Bezos as an online bookstore and has since expanded to become the world’s largest online retailer.
A brief history of Amazon:
- In 1994, Jeff Bezos founded Amazon in his garage in Seattle, Washington as an online bookstore.
- In 1995, Amazon.com launched its website and began selling books online.
- In 1997, Amazon went public, raising $54 million in its initial public offering (IPO).
- In the late 1990s, Amazon expanded its product line to include music, videos, and electronics.
- In 2002, Amazon introduced Amazon Web Services (AWS), a cloud computing platform that provides businesses with scalable computing resources.
- In 2005, Amazon launched Amazon Prime, a subscription service that provides free two-day shipping on eligible items and access to streaming of movies, TV shows, and music.
- In 2007, Amazon introduced the Kindle e-reader, which revolutionized the book industry by allowing users to download and read digital books.
- In addition, in 2014, Amazon acquired the video game streaming service Twitch for $970 million.
- In 2015, Amazon surpassed Walmart as the most valuable retailer in the United States and rolled out their voice system Amazon Alexa for the home!
- In 2017, Amazon acquired Whole Foods Market, a grocery store chain, for $13.7 billion.
- In 2018, Amazon became the second company, after Apple, to reach a market capitalization of $1 trillion.
- In 2020, Amazon experienced significant growth due to the COVID-19 pandemic. Furthermore, as consumers turned to online shopping while under lockdowns and stay-at-home orders.
- As of 2023, Amazon is the world’s largest online retailer, with over 200 million Prime subscribers worldwide, and employs over 1.3 million people globally.
In conclusion, throughout its history. Moreover, Amazon has been known for its innovative business strategies, customer-centric approach, and willingness to experiment and take risks. Lastly, the company’s success has made Jeff Bezos one of the richest people in the world. In addition, Amazon one of the most valuable companies in the world.
Is Amazon a fintech?
