in $850M deal for Web shoe store Zappos

July 23, 2009

(AP) -- Inc. says it is buying Inc., an online shoe store, in a deal worth about $850 million.

Amazon says it will buy Zappos for about $807 million in stock, and also will pay $40 million in cash and stock to Zappos employees. The deal is expected to close this fall.

Zappos' management will continue to run the company from Las Vegas.

Amazon already operates its own shoe and handbag shop under the name

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Amazon launches videogame trade-in store

Related Stories

Discovery sues over Kindle patent

March 17, 2009

(AP) -- Discovery Communications Inc. says the Kindle electronic book readers from Inc. violate a patent that Discovery registered in 2007. Discovery sued Amazon in Delaware on Tuesday.

Facebook claims 250 million users

July 16, 2009

Facebook founder Mark Zuckerberg announced the number of people using the online social networking service has climbed to 250 million.

Recommended for you

Internet giants race to faster mobile news apps

October 4, 2015

US tech giants are turning to the news in their competition for mobile users, developing new, faster ways to deliver content, but the benefits for struggling media outlets remain unclear.

Radio frequency 'harvesting' tech unveiled in UK

September 30, 2015

An energy harvesting technology that its developers say will be able to turn ambient radio frequency waves into usable electricity to charge low power devices was unveiled in London on Wednesday.

Professors say US has fallen behind on offshore wind power

September 29, 2015

University of Delaware faculty from the College of Earth, Ocean, and Environment (CEOE), the College of Engineering and the Alfred Lerner School of Business and Economics say that the U.S. has fallen behind in offshore wind ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.