19941776 Club
Bezos quits Wall Street, incorporates a bookstore called Cadabra in his Bellevue garage
Web usage is climbing 2,300 percent a year; the 30-year-old typed the business plan during the drive out from New York.
In spring 1994, web usage was growing at 2,300 percent a year, and a 30-year-old Wall Street executive named Jeff Bezos decided he could not sit it out. He quit his job, typed a business plan during a cross-country drive, and on July 5, 1994, incorporated a company in Bellevue, Washington, first named Cadabra, Inc. He chose books as his opening product for their low cost and universal demand. Within 30 days, the venture he'd renamed Amazon.com was selling $20,000 worth of books a week out of his garage…
