The American multinational technology company, Amazon's current worth is around $315.5 billion.
Interbrand, the global brand consultancy's report of October 2018 announced that Apple was the most valuable company in the world with Google and Amazon on the second and third place respectively. However, a recent key survey revealed that Amazon has jumped and taken over the other two companies. Google, which was once the world's largest company by value, now stands at the third place.
What made Amazon the world's most valuable brand?
Global Market Research agency, Kantar said in its 2019 100 Top BrandZ report that the brand value of Amazon surged by 52 per cent to USD 315 billion which is one of the most crucial reasons for the US giant's success. The company reached a massive growth stage in a span of less than one year which made it take the number one spot.
The main reason behind its growth is the new yet smart acquisitions which paved way for various revenue schemes. The company is known to have spent $1.65 billion on acquisitions in 2018. The US giant's investment in businesses, such as electric truck startup called Rivian and UK food delivery company Deliveroo, are two of its diving decisions.
Moreover, the ability to provide a wide range of products and services in a diverse ecosystem has also made it excel. Amazon has proven itself by enhancing its work environment and driving its business to stay ahead of other competitors in the market.
Started by Jeff Bezos in 1995, Amazon was earlier an e-commerce website that only sold books. Within just a month of its formation, the company started selling books to 40 different countries. By 2017, it became the world's leading e-commerce website with diversified products, greater customer reach and huge revenues.
Amazon’s impressive voice command devices, world-class customer service, its video streaming platform and outstanding user experience have all contributed to its value.
Other companies on the list
The top ten companies were once again dominated by US firms, with Apple on USD 309.5 billion, Google on USD 309 billion and Microsoft on USD 251 billion. Visa, the payment specialist company was ranked at fifth place with USD 178 billion. Facebook has fallen down to 6th place because of the series of data breach faced by the company for the last two years.
On the other hand, Alibaba and Tencent are on the list to become the most valuable Chinese companies and Louis Vuitton is currently the most valuable luxury brand.
The leading brands have no doubt embraced disruptive business models to beat traditional rivals in terms of finance, technology and retail sectors.