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Amazon Buys Zappos for $920M

by Kaiser Hwang on July 23, 2009 at 08:29 AM


Amazon is one of the world's largest online retailers for everything from books to electronics. Zappos is another one of the world's largest online retailers, but more specifically for shoes and clothes. If you think the two are a match made in heaven, you're not the only one: According to TechCrunch, Amazon has just purchased Zappos for a cool $920 million in shares and cash.

Zappos has built a strong reputation among the public for great customer service, stellar prices, and fantastic shipping deals, and thankfully, there are no plans to change that. Zappos CEO Tony Hsieh wrote a letter to his employees saying, "We plan to continue to run Zappos the way we have always run Zappos -- continuing to do what we believe is best for our brand, our culture, and our business." Amazon head honcho Jeff Bezos also had a few words to say the Zappos employees, which you can catch in the video posted above. [From: TechCrunch]

Tags: amazon, business, buyout, retail, shoes, shopping, top, zappos

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