Home › DMW Daily › November 2, 2009

Amazon.com Closes Acquisition of Web Shoe Store Zappos

Authored by Mark Hefflinger on November 2, 2009 - 8:37am.
Seattle - Completing one of the summer's largest acquisitions, online retail giant Amazon.com (NASD: AMZN) on Monday officially closed its $850 million deal to buy Web shoe store Zappos.

Zappos will continue to operate under its existing brand, retaining its management team and Las Vegas headquarters.

The company recently celebrated its 10th anniversary, and reached $1 billion in annual sales for the first time last year.

Amazon had tried unsuccessfully to compete with Zappos, in 2007 launching a rival site to sell shoes and handbags.

But that site, Endless.com, drew just 777,000 unique visitors in June, compared with 4.5 million for Zappos.

 

Related Links:
http://snipurl.com/t0tcc

http://blogs.zappos.com/ceoletter

Published in DMW Daily, November 2, 2009
tags: Deals | Acquisitions | Amazon | Retail | com | Zappos |



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