Wednesday, July 22, 2009

Amazon Buys Zappos.com

Seattle-based Amazon.com said Wednesday afternoon that it is acquiring online shoe retailer Zappos.com, in a deal that is worth approximately $807M in Amazon common stock. According to Amazon, Zappos, which provides online apparel and footwear sales, which continue to be headquartered in Las Vegas, and will operate as a separate brand. In addition to the 10 million shares of Amazon stock, the firm said it will provide Zappos employees with $40M in cash and restricted stock as part of the deal.