Amazon has officially surpassed Walmart to become the largest company in the world by revenue, a milestone that highlights its extensive growth since its inception in 1994 as an online bookstore in Jeff Bezos's garage in Seattle. Walmart, which held the title of the largest company by sales for over a decade, reported sales of $713.2 billion in the twelve months ending January 31. In contrast, Amazon reported sales of $717 billion for the fiscal year ending in December, making it the leading entity in the retail and technology sectors.

The rapid ascent of Amazon can be attributed to various factors, including a significant shift in consumer spending from physical stores to online platforms, particularly accelerated by the recent pandemic. Furthermore, the growth of Amazon's cloud computing division has also played a pivotal role in boosting the company's revenue, allowing it to expand its services and integrate technology into its business model effectively. In the last decade, Amazon's revenue growth has been nearly ten times that of Walmart, underlining the dramatic changes in the retail landscape.

Jeff Bezos, the founder of Amazon, has often cited Sam Walton, the founder of Walmart, as a major influence on his business strategies. By leveraging lessons learned from Walmart's success, Bezos has crafted a business model that not only competes with traditional retail giants but also leads in innovation and efficiency. This achievement signals a broader trend towards digital transformation in commerce, suggesting that companies must adapt to the evolving marketplace to thrive in a competitive environment.