Amazon (A): Building a Retail Giant on a Stack of Books

Amazon debuted in 1995 as an online bookseller at a time when small independent bookstores in the United States faced an onslaught from superstore chains Borders and Barnes & Noble. From the beginning, founder Jeff Bezos had bigger dreams than simply selling books on the internet. Those dreams were transformed into reality when Amazon became the largest online--and the most valuable--US-based retailer.

Amazon's growth was built on a series of successful strategic bets, including Amazon Marketplace, Amazon Prime, and Fulfillment by Amazon. The company's massive investment in building distinctive distribution and logistics capabilities also paid off handsomely. However, it was not afraid to experiment and fail, as it did with the Fire Phone and Amazon Restaurants.