This work aims to analyses Amazon s value today and its past growth. Also, this paper shows how the real option valuation of a project could add value to the company. We use the Discounted Cash Flow Method to analyze and predict the company s value and estimate its potential growth using the Real Options Theory. Over the years, the companies started to understand the role that technology plays at the modern society and the new scenario that it creates in every economy at a global level. Because of that, they are investing more in research and development of projects in this area and, therefore, changing the way companies do business. On the other hand, projects of this nature usually have intrinsic risks and uncertainties due to the quick evolution of technology that can change the value of the project during its useful life. The real option theory can be used to evaluate the nature of these risks and help managers to take more accurate decisions regarding the future of the Amazon s company, taking in consideration the flexibilities the managers have during the project development. This work serves as an example to managers of how Real Options Theory can change the project s value. Besides, it gives a different valuation approach of Amazon to the market. By taking the real options approach in consideration, we calculate the Amazon s market value, considering the options of abandon and expansion associated with the project of Amazon Go stores. Amazon developed facial recognition technology to create cashier less convenience stores. Amazon s traditional valuation by the DCF method resulted in a stock price of USD 1320.83 and the options of expansion and abandonment added a value of USD 3.42 to the stock.