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Yes. Many sellers make decent (job-ending) income on Amazon.

That said, many sellers don't. The difference is knowledge (knowing what to do).

If you're interested in selling on Amazon, here's a guide for you: Amazon FBA guide for Private Label... (More)4

I think it was 2012, but I have read that Matt Clark (one of the founders) created Amazing LLC in 2009, so I'm not 100% sure. 

Maybe the first version (ASM 1) launched in 2012.