AMAZON- THE GROWTH STORY

BUSINESS, World Affairs
Year Milestone
1994 Jeff Bezos quits his job, launches Amazon.  Initial startup capital- his parent’s personal savings
1995 Amazon.com goes online with book sales. Bezos raises an $8 Million round of funding from Kleiner Perkins
1997 Amazon goes public at $18 per share
1999 Bezos named Time Magazine’s “Person of the Year” for popularising online shopping.
2009 Bezos acquires Zappos through  stock swap
2013 Bezos acquires the Washington Post
2015 Amazon surpasses Walmart as the most valuable retailer in the United States
2016 Becomes the fourth most valuable public company, goes offline with its first bookstore in Seattle
2017 Amazon acquires Dubai-based Souq.com, Bezos becomes the second richest person in the world

Amazon founder Jeff Bezos became the second richest person in the world, moving ahead of when Amazon acquired on 29 March acquired Middle East’s largest online retailer, Souq.com. According to Bloomberg, Bezos added around $1.5 billion to his fortune (now at $75.6 billion) as his company’s share rose to $18.35 billion as of  29 March.

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WHY WE NEED TO LOOK AHEAD OF GDP?

BUSINESS

WHY WE NEED TO LOOK AHEAD OF GDP?

“What we measure informs what we do. And if we’re measuring the wrong thing, we’re going to do the wrong thing.”

Joseph Stiglitz

Nobel Laureate in Economic Sciences (2001)

In an election rally in UP, PM Narendra Modi recently took a jibe at the economists criticizing demonetization. He quoted the new GDP growth data released by Central statistical Organisation, which puts the growth rate at 7 per cent in the third quarter of the financial year 2016-17.  For decades now, GDP and its growth thereof, has been regularly cited in discussions related to the economic progress. China for one has remained obsessed with the growth so much so that as to set specific targets for GDP growth in its annual and five year plans.