Amazon.com in $850M deal for Web shoe store Zappos

Jul 23, 2009

(AP) -- Amazon.com Inc. says it is buying Zappos.com 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 Endless.com.

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 This material may not be published, broadcast, rewritten or redistributed.

Explore further: GoDaddy revs up tech sector with Wall Street offering (Update)

Related Stories

Discovery sues Amazon.com over Kindle patent

Mar 17, 2009

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

Facebook claims 250 million users

Jul 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

FTC's Google investigation probed by Senate antitrust chief

12 hours ago

The chairman of a U.S. Senate antitrust panel will look into the release of a confidential Federal Trade Commission report on an investigation of Google Inc.'s search business, which was closed in 2013 without an enforcement ...

Traffic court goes digital: Startup fosters settlements

13 hours ago

Traffic court is going digital. Michigan startup Court Innovations has developed a software solution that allows drivers to settle traffic violations by negotiating in a virtual environment instead of showing up to court ...

Amazon puts home staples on refill button

13 hours ago

Amazon moved Tuesday to become an errand service for home staples, introducing a "dash button" to allow consumers to instantly order popular products for home and kitchen.

User comments : 0

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.