How Amazon almost failed!

Name: How Amazon almost failed!
Uploaded: 2024-09-05T14:45:50+00:00
Duration: 43 s
Channel: Hiten Shah
Description: Jeff Bezos left Wall Street in 1994 after spotting the internet growing 2000% yearly, then spent months pitching investors to raise $1 million for an…

5 Sept 2024 · 1 min

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Jeff Bezos left Wall Street in 1994 after spotting the internet growing 2000% yearly, then spent months pitching investors to raise $1 million for an online bookstore. His first site was called K, which sounded like cadaver, so he renamed it Amazon and hit $20,000 a week in sales by late 1995.

Questions this video answers

1994

Over 2000% per year

Over 60 meetings

$1 million

"K" (listeners thought it sounded like "cadaver")

Chapters

You know Amazon, that company making a TV show with Mr. Beast? Well, it only took them three years to go from startup to Internet giant. Now, let's go back to 1994. This Wall street guy named Jeff was analyzing market trends. He noticed the Internet was growing over 2000% per year. He dreamed of quitting his job to start a business selling books online. But Jeff had a problem. He was rolling in Wall street dough. Should he leave his fat paycheck to chase his dream? Even with his Wall street connections, people weren't lining up to invest. Actually, it took him over 60 meetings to secure just $1 million in capital. He used that money to launch his site, K. Problem is, the name sounded like cadaver, and people thought he was selling dead bodies. But then he changed the name to Amazon, and by the end of 95, Amazon was raking in 20 grand a week in sales, and the rest is history.