If You Invested $10,000 in Amazon at Its IPO, This Is How Much You Would Have Today
Amazon (NASDAQ: AMZN) is arguably one of the most recognizable companies in the world, but that wasn't always the case. The company was founded as a simple online bookstore in 1994, but its mission quickly changed.
After adding music and videos in 1997, founder and former Chief Executive Officer Jeff Bezos decided to crowdsource the company's next move. In an interview in 2018, Bezos shared the catalyst for its rapid product expansion. "I emailed a thousand randomly selected customers and asked them, 'besides the things we sell today, what would you like to see us sell?'" The wide-ranging and diverse answers inspired Bezos, who quickly decided "we can sell anything this way."
From humble beginnings, Amazon stock has soared a mind-boggling 132,000%, making it the third-best performing stock over the past 30 years. That means a $10,000 investment at its IPO would be worth a cool $13 million today. Even a more modest investment of $1,000 would have yielded a profit of about $1.3 million.
Source Fool.com
