Amazon.com announced today that they bought online retailer Zappos.com for $847 Million, in a stock and cash transaction.
According to the press release, Amazon will assume all outstanding options and warrants of Zappos in exchange for approximately 10 million shares of Amazon common stock, equal to approximately $807 million based on the average closing price for the 45 trading days ending July 17, 2009. In addition, Amazon will provide Zappos employees with $40 million in cash and restricted stock units.
Subject to various closing conditions, the acquisition is expected to close during the Fall of 2009.
Well done to both parties,
I have never used Zappos but was recently talking to them about a domain sale that didn’t close but they still insisted that next time in the states to come and see them and spend some time in the office and meet all the staff.
Such a nice company and great bunch of people!
I think this is a good buy for Amazon, great team of people they have acquired.