Amazon IPO
About Amazon IPO
Amazon went public on May 15, 1997 at 18 dollars per share. The stock rose to 30 dollars on its first day. Founder Jeff Bezos had started Amazon as an online bookstore in his garage in 1994. The IPO raised 54 million. Amazon shares fell below 10 during the dot com crash but recovered spectacularly. A 1,000 dollar investment at the IPO would be worth over 2 million dollars today. Amazon transformed from a bookstore to the everything store to a cloud computing giant through AWS, which generates most of its profits.
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