On May $15,2017,$ Amazon.com celebrated the $20$th anniversary of its initial public offering $($IPO$)\mathrm{.}1$ Over the preceding two decades, Amazon had grown from a small e$-$commerce startup to the fourth largest U$.$S$.$ public company, trailing only Apple, Alphabet $($Google$$s parent$),$ and Microsoft$\mathrm{.}2$ The company reached such a size, however, with little to show in terms of profitability. Amazon chose to invest in expansion and research and development with the idea that sacrificing profit in the short$-$term would allow the company to maximize profit in the long$-$term.

Company Background

Amazon was founded by Jeff Bezos. Prior to starting Amazon, Bezos worked in New York as a vice president at D$.$ E$.$ Shaw & Co$.,$ a global investment management firm, but decided to quit his job and move to Seattle to take advantage of the incredible growth of the Internet. The Amazon website launched on July $16,1995.$

Amazon began as an online bookstore, but the company had innovative strategies that set it apart from competitors. It offered discounts up to $30\%,$ allowed customers to post their own book reviews on its website, and continually worked to improve the ease of placing orders with technological features like $1-$Click$$ shopping$\mathrm{.}3$ These strategies derived from Amazon$$s customer$-$focused mission statement