Jeff Bezos is the world’s wealthiest person and the founder of a tech giant Amazon. He left his Wallstreet firm job, and started this company with the help of seed capital, from his parents. He selected the name Amazon, by looking through the dictionary, the place that was exotic and different, just as he had envisioned for his Internet enterprise.
It started off with selling books since the demand was huge, price points were low, and there were many titles available in print. Later, the business expanded in consumer goods and electronics. Thus, making Amazon the largest Internet retailer in the world, as measured by revenue and market capitalization.
However, in 2000, the company wanted to launch a system called Merchant dot com, to help third party systems, to launch their eCommerce platform. Many companies started demanding these services, but their internal software systems were incapable, for such modifications.
Andy Jassy started leading this initiative, by creating an intrapreneurship within the organization and created an API based system, which was easy to integrate. This system was also used internally, for application infrastructure, scaling and up-gradation.
The Eureka moment came when this system was exposed to developer communities, and they started adopting it and leveraging it for their own applications.The developer community also recommended and requested changes which led to the creation, of a new product Amazon Web Services, known as AWS. AWS became the on-demand cloud computing platform, which changed the paradigm of cloud computing in pricing, scaling and flexibility.
Currently, AWS owns 42% of the market share, and accounts for 73% of total Amazon’s Operating income, in quarter one of 2018. It is ahead of IBM Cloud, Google Cloud and Microsoft Azure, who are the niche players in software and hardware business. AWS business also helped amazon to cover up for the losses overseas, and drive overall profitability.
AWS, a small intrapreneurship startup, which became the arc reactor powering The Giant.