Co-founders Tom and David Gardner look back on The Motley Fool's journey with (NASDAQ:AMZN) since first purchasing it in September 1997. The brothers discuss the ups and downs they've seen with the stock, now a 100-bagger for the Fool.

Everyone wants to get in early and be part of the next big thing. How did David Gardner know that Amazon was going to be a winner? In this video segment, he shares three factors that played into his decision to buy into Earth's Biggest Bookstore.

Tom Gardner: Hi. Tom Gardner and David Gardner here, co-founders of The Motley Fool, and we're here to talk about the incredible investment that has been

Since buying in 1997, the stock is now up 100 times in value for you, so part of this is a celebration of long-term investing, of finding great businesses, and of getting incredible results. But the first part of our conversation today, Dave, I just want to hear a little bit about how you found Amazon, what you were looking for, and a little bit about the Rule Breakers methodology, particularly as it applies to Amazon.

It's a $165-billion company today, but if you rewind and take it back, the 100-bagger, it's a small cap at that point, or a relatively small company. What were you looking for, and why did you make your first investment in Amazon?

David Gardner: I think there are three things I'll just point out right out of the gate, Tom.

No. 1, it was a company that had a visionary leader, and it was a leader at the time. It was perceived to be that. It's was "Earth's Biggest Bookstore" -- I still have the mouse pad, by the way -- when I first recommended it, but it was very clear they'd named it "Amazon." It wasn't "," so you saw a visionary leader in play.

Second thing, the stock had already doubled from its IPO before we bought it on Sept. 9 of 1997.

Tom: Now, that would be a reason that a lot of people would stay away from it.

David: Absolutely. I asked myself, "Did I miss this? Oh, darn." Obviously, we'd be talking about a 200-bagger today had we bought three months earlier, but absolutely no regrets. In fact, so often in my style of investing, we're buying the company after it's already doubled. That's happened any number of times in Rule Breakers and Stock Advisor among our best picks.

Third, I was in touch with it as a consumer. I was using Amazon; I'm pretty sure you were, too. You couldn't really miss it. It was for people who loved e-commerce -- and there were big doubts at the time, maybe we'll talk about that later -- big doubts that e-commerce would even work, or could work as expansively as it turns out it has.

I'm by no means the visionary who was saying, "Look at what e-commerce would become." We were kind of thinking through it, looking for it a little bit, ourselves. But to be a consumer, to be using it, to be in touch with that -- helpful.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.