12 July 2023 , 11:02
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It is the world's largest online retailer and marketplace - but many Amazon customers are only just learning how it got its name. Founded by Jeff Bezos on July 5, 1994, Amazon started as a simple online bookstore with its 'headquarters' in his garage in Bellevue, Washington.
Today, the $1.32 trillion company sells everything from groceries, personal-care items, clothing, musical instruments, to garden items. But it's not only it's stock list that has changed over the years - but its identity as the company originally ran under the name Cadabra, Inc.
Bezos came up with Cadabra as a play on the magical word abracadabra - but ended up changing it a few months later when his lawyer misheard it as 'cadaver' - a word used to describe a dead human body that is intended to be dissected.
Jeff Bezos founded Amazon on July 5, 1994 (AFP via Getty Images)Bezos, who is one of the richest men in the world, started flicking through a dictionary to come up with a new name before settling on Amazon. He thought it sounded "exotic and different", just like his online business.
Speaking about its name to Inc in 1997, he said: "There's nothing about our model that can't be copied over time. But you know, McDonald's got copied. And it still built a huge, multibillion-dollar company. A lot of it comes down to the brand name. Brand names are more important online than they are in the physical world."
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In 2021, Bezos stepped down as Amazon CEO after three decades to focus more "time and energy" on other ventures. It came after Amazon's UK sales topped £20billion for the year - with £1 of every £20 spent during the Covid crisis going to the American retail powerhouse.
In a letter to Amazon employees, he wrote: "This journey began some 27 years ago. Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognised as one of the most successful companies in the world. As much as I still tap dance into the office, I'm excited about this transition,. I've never had more energy, and this isn't about retiring. I'm super passionate about the impact I think these organisations can have."
Thanks to his wealth, Bezos has a 30,000-acre ranch in West Texas, a £121 million Beverly Hills pad, and stunning New York apartment overlooking Central Park. The 59-year-old recently proposed to his girlfriend Lauren Sanchez, 53, on board his $500 million superyacht.