Amazon Is Buying Zappos

Amazon.com Inc. says it is buying Zappos.comInc., an online shoe store, in a deal worth about $850 million.

By: Katie Hammond | WKRG-TV
Published: July 22, 2009

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SEATTLE (AP) - Amazon.com Inc. says it is buying Zappos.com
Inc., an online shoe store, in a deal worth about $850 million.
Amazon says it will buy Zappos for about $807 million in stock,
and also will pay $40 million in cash and stock to Zappos
employees. The deal is expected to close this fall.
Zappos' management will continue to run the company from Las
Vegas.
Amazon already operates its own shoe and handbag shop under the
name Endless.com.

(Copyright 2009 by The Associated Press. All Rights Reserved.)