NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Home> Business>EnterprisesAndProducts
Amazon to buy online shoe retailer Zappos for over $800 mln
Latest Updated at 2009-July-23 16:34:34
Related News
EnterprisesAndProducts
First made-in-China regional jet makes longest trial flight
First firms to be listed on GEM later in year
China Eastern Airlines announces merger plan with Shanghai Airlines
Guangdong, Toyota to deepen cooperation

Amazon.com Inc., the world's largest online retailer, on Wednesday announced that it has agreed to buy online shoe store Zappos.com Inc. in a deal worth nearly 850 million U.S. dollars.

Seattle-based Amazon said it will acquire all of the outstanding shares and assume all outstanding options and warrants of Zappos in exchange for approximately 10 million shares of Amazon common stock, a transaction worth about 807 million dollars.

In addition, Amazon intends to provide Zappos employees with 40million dollars in cash and restricted stock units.

The deal is expected to close this fall. Amazon said Zappos management team will remain intact after the acquisition and the company will operate its brand independently with headquarters in Las Vegas.

"We see great opportunities for both companies to learn from each other and create even better experiences for our customers," Amazon's chief executive officer (CEO) Jeff Bezos said in a statement.

Since its founding in 1999, Zappos has quickly become a leader in online apparel and footwear sale, currently stocking millions of products from over 1,000 clothing and shoe brands.

"We are joining forces with Amazon because there is a huge opportunity to utilize each other's strengths and move even faster towards our vision of delivering happiness to customers, employees and vendors," said Tony Hsieh, CEO of Zappos.

Editor: Miranda

By: Source: China View website

Mascots of 16th Asian Games ascends Mount Everest

"Pig Beauty" competition held in Guangdong

Ancient Daling Village Resumes its Original State

Direct container lines between South China and Taiwan inaugurated

Pirates of the Caribbean 3 premieres in China
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips