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

(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 This material may not be published, broadcast, rewritten or redistributed.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

Amazon 1Q profit, revenue jump on strong sales

Citation: Amazon.com in $850M deal for Web shoe store Zappos (2009, July 23) retrieved 17 September 2019 from https://phys.org/news/2009-07-amazoncom-850m-web-zappos.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

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