Why in News:

• Amazon clinched the world’s most valuable brand in cloud computing, consumer tech and movie production.

Background:

• It is founded by the world’s richest man Jeff Bezos.
• According to the 2019 BrandZ Top 100 Most Valuable Global Brands rankings, Amazon online retailer set its brand value quintuple in the past five years to reach $315.5billion.
• It is undertaken annually by advertising holding company WPP.
• The detailed study of Brand Z reveals firms financial data and draws on an extensive consumer survey to reach its conclusions.
• Amazon expanded into grocery, healthcare, food delivery and, with its Alexa devices, even voice recognition. Amazon jumped from third to first place to eclipse Google. The brand of Amazon from 52 percent to $315 billion.
• The company jumped from third place to first place and got the third position to topmost by replacing Google.

About Financial Market:

• There are two online shopping namely Alibaba and JD.com Chinese website which are down its Chinese e-commerce operation. Huawei company got a sudden break down of telecom network equipment and smartphone maker poses security and spying risks. Huawei added 8 percent to its brand value in the past year to reach $26.9bn.
• Netflix was third among the global market and they obtained 65% to obtain its brand value of 34.3 billion.

About Amazon:

• Founder: Jeff Bezos
• Headquarters: Seattle, Washington, U.S.
• Services: Amazon.com, Amazon Alexa, Amazon Appstore, Amazon Music Amazon Prime Amazon Video
• Revenue: US$232.887 Billion – 2018