The e-commerce giant occupies the No. 2 spot on our list for the fourth consecutive year, though revenue growth, at 9% year over year, was the slowest in Amazon’s history as a public company to date.
- Amazon swung from a hefty profit in 2021 to a $2.7 billion loss in 2022. Slowing growth in e-commerce and in the Amazon Web Services (AWS) cloud division contributed to the slump. CEO Andy Jassy said in April 2023 that he anticipated a “pending deluge” in spending on A.I. and machine learning that would revive growth at AWS.
- The company announced layoffs of about 27,000 employees in 2023, with cuts concentrated in cloud computing and human resources. -
- Amazon lost half of its market value between April 2022 and the end of the year, though its stock has since partly rebounded. The company was hit by a tech-stock rout that also affected many of its rivals.
- The company closed its physical bookstores and other retail shops in March 2022 to focus on other store formats.
- In July 2022 Amazon announced that it would pay $3.5 billion to acquire primary care provider One Medical, adding the company to its growing health care services portfolio.
Michael Nagle—Bloomberg/Getty Images
As of 6/5/23
Internet Services and Retailing
Andrew R. Jassy
Market Value ($M)
Market value as of March 31, 2023.
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Amazon Rank History
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Lists ranking Amazon