PYMNTS.com May 9, 2024
In November 2000 the Nasdaq was at the 6,000 mark, just starting to shed the internet companies that had been overvalued and would eventually lead to the bursting of the internet bubble. Amazon’s stock price at the time was $1.25. And in this environment, it launched an online experience for sole proprietorships and small business called Amazon Marketplace, which started as a destination for collectibles and rare items.
But someone saw limitless potential.
“We’re only beginning to understand how Amazon Marketplace can channel that demand to benefit customers, manufacturers, publishers, artists and the industry as a whole,” Amazon founder and then-CEO Jeff Bezos said at the time. “We’re confident that this model will continue to evolve, and believe it has...
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