In the first year of the pandemic, AWS revenue continued to grow at a rapid clip-30% year over year (“YoY”) in 2020 on a $35 billion annual revenue base in 2019-but slower than the 37% YoY growth in 2019. Our AWS and Consumer businesses have had different demand trajectories during the pandemic. Whether companies saw extraordinary demand spikes, or demand diminish quickly with reduced external consumption, the cloud’s elasticity to scale capacity up and down quickly, as well as AWS’s unusually broad functionality helped millions of companies adjust to these difficult circumstances. AWS played a major role in enabling this business continuity. Businesses and governments also had to shift, practically overnight, from working with colleagues and technology on-premises to working remotely. This meant that hundreds of millions of people relied on Amazon for PPE, food, clothing, and various other items that helped them navigate this unprecedented time. Whatever role Amazon played in the world up to that point became further magnified as most physical venues shut down for long periods of time and people spent their days at home. When the pandemic started in early 2020, few people thought it would be as expansive or long-running as it’s been. Jeff set the bar high on these letters, and I will try to keep them worth reading. But, this is the first time I’ve had the honor of writing our annual shareholder letter as CEO of Amazon. Over the past 25 years at Amazon, I’ve had the opportunity to write many narratives, emails, letters, and keynotes for employees, customers, and partners.
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