Amazon becomes the second publicly-traded company to hit $1 trillion market value

Only the second publicly-traded company to have reached the milestone.

  • Published: September 5, 2018 12:33 PM IST

Amazon’s per-share price hit a record high of $2,050.50 in NASDAQ’s morning trading on September 4, briefly causing the online shopping and cloud-computing behemoth’s marketing value to surge past $1 trillion. It makes Amazon only the second publicly-traded company to have achieved the milestone, after Apple’s market value reached $1 trillion last month.

The accomplishment came after Amazon’s per-share price crossed $2,000.00 for the first time last week, according to a report by USA Today. It’s quite a feat for the company, which started in 1994, as a book retailer in the garage of founder Jeff Bezos’ Seattle home. Bezos is currently the wealthiest person in the world, with a net worth of more than $150 billion.

A dominant force in the world of online shopping, Amazon’s portfolio today includes a diverse array of products and services, including cloud computing infrastructure, consumer electronics (e.g. Kindle series of e-book readers and Echo line-up of smart speakers) and, streaming audio/video. It also has numerous online properties as its subsidiaries, including IMDb, Goodreads, and Twitch.

Amazon has been constantly working to enhance its localized offerings too. Recently, it announced the availability of Amazon India in Hindi, in a move to bring the next 100 million shoppers online.

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“The launch will enable shoppers in India to enjoy the ease and convenience of Amazon’s shopping experience in Hindi,” Amazon India Vice President, Category Management, Manish Tiwary told reporters.

He further added, “Customers can read detailed product information, find deals and discounts, place and pay for their orders, among other things.”

  • Published Date: September 5, 2018 12:33 PM IST