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What is Amazon?
Amazon is a tech firm that specialises in retail, cloud services, digital broadcasting, and machine intelligence. According to the Fortune 500 list for 2020, the publicly listed business is the world’s largest web corporation and the US’s second-largest workforce. Amazon’s headquarters are now located in Seattle, Washington.
Jeff Bezos founded Amazon.com in 1994 as an online book store. Over the next few years, Amazon.com grew to include films, music, and games; now, Amazon.com, branded the “everything store,” is a worldwide market for practically every type of material items. The first IPO occurred in 1997, at a price of $18 per share; as of September 2, 2020, the highest current price of Amazon shares was $3,531.45. (Nasdaq).
Amazon is even a Hollywood player, having won two Golden Globes in 2017. Despite this, Bezos’ business philosophy has been remarkably consistent throughout the years, emphasising on long-term client devotion above short-term earnings and never-ending development into new businesses.
In an unusual twist, Amazon has made considerable investments in physical stores, founding its first in Seattle in late 2015 and growing to 13 sites since then. In 2017, the business completed the purchase of Whole Foods Market, and in early 2018, it established an Amazon Go grocery shop in Seattle for the general public.
What is Amazon Prime?
Although it may not appear so, Amazon Prime was established more than 15 years ago. Since then, it’s become a big source of revenue for Amazon’s retail division. Over time, the firm has increased the number of features found to billions of Prime subscribers in order to make the programme more appealing.
The service has been enhanced with new features throughout time. Amazon Prime Video offers access to millions of broadcasting movies and TV series, as well as free online image storing, free eBooks, Amazon Music, gaming, and more. Amazon CEO Jeff Bezos announced in 2021 that Amazon Prime has surpassed 200 million members worldwide.
The only method to subscribe at first was to pay a yearly subscription. Prime membership began at $79 per year and increased to $99 per year in 2014. The annual fee increased to $119 in 2018. In 2016, Amazon also started monthly memberships. Amazon Prime is now available for $12.99 a month.
Difference Between Amazon and Amazon Prime
- Amazon Inc is a publicly traded company and webpage. Amazon Prime, on the other hand, is a subscription-based service.
- The former is a holding company for the latter. The latter is an Amazon.com Inc.-sponsored programme.
- Amazon is a holding company for a number of businesses. Amazon Prime, on the other hand, does not have an affiliate.
- The first provides its own set of services and products. While achieving is a service in and of itself.
- A subscription to Amazon is not required. Amazon Prime does, however, provide a free trial period. It does, however, require a complete subscription to use its services.
- Amazon only asks for payment when a product or service is purchased. Its Prime subscription, on the other hand, demands a monthly payment.
- An amazon user will be charged shipping, whereas a prime member will receive free shipping.
- Amazon enrollment is self-contained. Its main membership is conditional on its utilisation.
Comparison Between Amazon and Amazon Prime
|Parameters of Comparison
|On July 5, 1994, Jeff Bezos and Brian Olsavsky founded Amazon.com, Inc.
|Amazon Prime was founded on the 2nd of February 2005 by Amazon.com, Inc.
|Type of the Website
|It is a corporation and website that is open to the public.
|It’s a website that offers subscription services.
|It has a large number of subsidiaries.
|It does not have a subsidiary.
|Products and Services
|Amazon has a wide range of items and services.
|Amazon Prime is a feature that Amazon offers.
|Registration and Subscription
|Registration with Amazon is completely free. It does not necessitate the purchase of a membership.
|Amazon Prime offers a free trial period at first. However, it requires a complete membership to use its product after that.
|It just needs to pay when the goods or service is purchased.
|The membership is paid on a monthly basis.
|Amazon levies shipping fees for in timed delivery service.
|On any residential delivery service, Amazon Prime offers free shipping.
|E-commerce, electronic goods, cloud technology, machine intelligence, self-driving cars, and digital delivery services are all part of Amazon Inc.’s industry.
|The Amazon Prime industry provides internet service to people all around the world.
|Movies and e-books
|It allows you to buy each item independently, whether it’s a movie or an e-book.
|With a subscription, it provides access to a large number of movies and e-books for free.