Amazon is now the largest private company in the US and has become one of the most dominant players in the shipping industry.
The Seattle-based company is expected to reach $1 billion in revenue by the end of 2021, according a research firm’s report released Tuesday.
The firm, Holt Analytics, said Amazon has more than doubled its warehouses since 2013, and has surpassed the company it once co-owned as the largest logistics company in America.
The company has added more than 400,000 jobs since 2013.
Holt’s report says Amazon warehouses have added nearly 10 million square feet of space to its footprint, and its workforce has grown by more than 8,000.
Amazon has expanded into a variety of businesses including warehouses, shipping, food and agriculture, finance, insurance, logistics, health care and more.
Hilt’s report noted Amazon warehouses also handle large volumes of goods that can add $2.5 billion to the companies’ bottom line.
Amazon’s business is still struggling.
The stock has been losing more than 80% of its value in the last three years, with its share price falling more than 30% in 2017.
Amazon reported its first quarterly loss in 2016.