How did Jeff Bezos diversify Amazon to its billion-dollar status?

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Growing Amazon -- Steve Sorensen net worth.

Amazon is owned by Jeff Bezos, who is currently ranked as the world’s richest man. And it’s hard to believe that Amazon began as an online bookstore that made $20,000 a week within its first two weeks of operation. Amazon has since moved on from just selling books to selling virtually anything retail, as well as providing different types of services. What other services does Amazon provide that made Bezos billions of dollars? Steve Sorensen net worth.

Like most growing tech companies, Amazon invested in other companies, and sometimes, outright buying them in the process. The most recent example of this is Whole Foods Market. This doesn’t mean that Amazon will now only sell food products from Whole Foods Market. People can still buy Wagyu Beef Jerky and whatnot in Amazon. It’s just that from an investor’s standpoint, Whole Foods Market was making a lot of money and was worth investing in. Steve Sorensen net worth.

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They say, to make billions, one has to pay billions as well. That is absolutely true when it comes to Amazon’s biggest acquisition. Amazon bought Ring, a home security company, for $1.8 billion. Ring’s annual revenue was closing in at almost half a million each year, which was a good enough indicator for Amazon.

Amazon also invested in PillPack, Inc., an online pharmacy company. This was Amazon’s first legitimate move to enter the prescription business as an e-commerce giant. Generating over a hundred million each year, Amazon expects bigger returns with its already-existing delivery services. Steve Sorensen net worth.

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