Amazon continues to perform and the company has shown it is dominant in the world of ecommerce. For the year, net sales grew 28 percent over 2007, to $19.17 billion. This includes a 9% increase last quarter — a quarter many thought would be poor because the company mentioned casually that it had a one-day sales surge which many interpreted to mean the rest of the quarter was in the toilet.
It seems the promise of ecommerce which many hoped would be distributed over thousands if not hundreds of thousands of companies is being realized in a massive way by Amazon.
Remember the ups and downs of the bubble and post-bubble dotcom days. Actually the internet bubble burst is something people probably long for when compared to the current banking debacle we live through on a daily basis. Remember those more innocent days? The sock puppet and Pets.com? Amazon did an incredible job of not only surviving this age but thriving. Most people thought it was dead in the water back then.
During those incredible dotcom days when we invented terms like “internet time,” who would have expected eBay and Yahoo to be laggards in 10 years. Who would have thought Lycos and AltaVista would be gone? All this while Amazon and Google become web darlings, growing in the face of a global spending slowdown. Truly staggering.
It makes one wonder what other companies are seeing investors flee today because they don’t have the vision to see ten years into the future.