Amazon Purchases Zappos
Category: Internet, General NewsPosted: July 22, 2009 08:17PM
Author: Ediseye
The online popular shoe store, known as Zappos, has served millions of people since its original opening. Customer service is top notch for the online merchant, as it even lets consumers return shoes that do not fit them correctly, which is more or less a human error. Amazon has been in talks with the company lately, and has announced that it will buy them out, closing the transaction sometime by the end of the year. The deal between the two websites is said to be settled for around $807 million, which is the equivalent to 10 million shares of Amazon stock. Zappos has told all company employees about the deal, and has stated specifically that management will not change, and neither will health care or the Zappos name. Amazon and Zappos will still function as two separate entities, though Amazon will obviously have overall master control of the shoe store.
