E-commerce giant Amazon.com is set to acquire e-retailer Zappos.com in a deal worth $850 million. Under the agreement, Amazon will obtain all outstanding shares, options and warrants of the Zappos in exchange for approximately 10 million shares of Amazon common stock along with $40 mil in cash and restricted stocks for Zappos employees. In a statement, Zappos CEO Tony Hseih said the deal went through because "there is a huge opportunity to utilize each [company's] strengths and move even faster towards our vision of delivering happiness to customers, employees and vendors."
Wednesday, July 22, 2009
Amazon's Big Score: Inks Deal To Acquire Zappos.com For $850 Million
E-commerce giant Amazon.com is set to acquire e-retailer Zappos.com in a deal worth $850 million. Under the agreement, Amazon will obtain all outstanding shares, options and warrants of the Zappos in exchange for approximately 10 million shares of Amazon common stock along with $40 mil in cash and restricted stocks for Zappos employees. In a statement, Zappos CEO Tony Hseih said the deal went through because "there is a huge opportunity to utilize each [company's] strengths and move even faster towards our vision of delivering happiness to customers, employees and vendors."
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