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TIP506: How Jeff Bezos Built Amazon
We Study Billionaires - The Investor’s Podcast Network
Bezos's IPO
In 1996, Amazon had $16 million in sales while Barnes & Noble was dominating the industry with $2 billion in sales. When pitching investors, Bezos and his new CFO told them that Amazon had much higher potential returns on invested capital than their counterparts. Three days before Amazon's IPO, Barnes & Noble filed a lawsuit against Amazon claiming that they had falsely advertised itself to be the Earth's largest bookstore. During that year, Amazon's annual revenue grew by an astounding 900%. At this point, Kefan who started Amazon with Bezos was sidelined and put into an advisory role as the CTO with no direct responsibilities.
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