Amazon Elastic Beanstalk is a PaaS offering from Amazon that allows users to deploy and manage applications in the cloud. It automatically handles tasks like capacity provisioning, load balancing, scaling and application health monitoring. The document discusses the history and services behind Elastic Beanstalk like EC2 and S3. It also provides an overview of how Elastic Beanstalk works, the programming models supported, tools available and a demo of deploying a sample news application using Elastic Beanstalk.