After Apple, Jeff Bezos-led Amazon hits $1 trillion in market value
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Shares in the world's largest online retailer last traded up 1.4 per cent at $2,041.68.
A month after Apple hit $1 trillion in market value, online retail giant Amazon.com Inc on Tuesday became the second company to reach the $1 trillion mark in the US stock market.
Jeff Bezos-led Amazon breached the $1 trillion valuation near 1540 GMT when it's share price hit $2,050.50.
Shares in the world's largest online retailer last traded up 1.4 per cent at $2,041.68.
Amazon crossed the $2,000 threshold for the first time on August30th after doubling its price in just 10 months. Amazon shares first hit $1,000 on October27, 2017. It first reached $100 on October. 23rd, 2009.
Amazon stocks haverisen 70 per cent this year, at the beginning of the year it was valued at $580 billion.
The company's zooming share price has been led by its successful Amazon Prime memberships, Web Services and record-breaking sales and advertising across theretail site.
Bezos, who is already the richest man in the world due to Amazon's valuation, started the company in a garage in 1994 selling books online. It sold its first book - Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought by Douglas Hofstadter - to a computer engineer in mid-1995.
The Seattle-based company began selling books online throughout the US soon after and went public in 1997. Bezos started the coveted Amazon Prime Services - the two-day delievery service in America in 2005, the company later expanded the operation in Germany, Japan, UK and other countries including India in 2016.
The company also launched the Kindle in 2007, an e-reading service disrupting the printed book industry.