Amazon acquires online footwear retailer
23/07/2009
Online retailer Amazon has acquired internet footwear operation Zappos.com in a deal worth almost $1 billion.
Amazon chief financial officer, Tom Szkutak, said: “In terms of integration, it’s going to be a standalone business. This is about growing in categories that we think are interesting.”
Zappos chief executive, Tony Hsieh, said in a company statement: “The Zappos board was united in believing that joining forces with Amazon would be in the best long-term interests of our employees, customers, shareholders, and other stakeholders. The Amazon deal got us the best of all worlds: we can continue to run independently and grow the Zappos brand and culture.”
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