“There's virtually nothing left that they haven't touched,” said Kelly O’Keefe, professor at the Virginia Commonwealth University Brandcenter. 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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