Holy canoli! - News has just broken that Amazon.com has purchased hot ecommerce up-and-comer Zappos for 10 million Amazon shares or $807 million. Zappos employees will get $40 million of that in cash and restricted stock. And Zappos management will remain in place.
This is a great exit for Zapoos’ investors, who put in $47 million in four rounds. Draper Richards and Sequoia put in $20 million each, and Venture Frogs and Scott Bannister invested in earlier rounds.
I’m digging around for details now but here’s a video Jeff Bezos did that just went to Zappos employees.
http://www.youtube.com/watch?v=-hxX_Q5CnaA
This is a great exit for Zapoos’ investors, who put in $47 million in four rounds. Draper Richards and Sequoia put in $20 million each, and Venture Frogs and Scott Bannister invested in earlier rounds.
I’m digging around for details now but here’s a video Jeff Bezos did that just went to Zappos employees.
http://www.youtube.com/watch?v=-hxX_Q5CnaA
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- groups:
- Tech
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- tags:
- Amazon, Acquisitions, Techcrunch, zappos + add
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- sarahlane
- added this
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umm...this is frakin' huge.
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Ecommerce up & comers? I bought shoes from these people when I was in college like 5 years ago. They shipped next day for free. Nothing like wearing new kicks EXACTLY when you want them. Hope they don't get rid of that.
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- valpancakes
- 4 months ago
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I didn't know Telly Savalas was Amazon's CEO. Really though, this is big news. Congrats to both companies, and keep that free shipping!
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- PsychoAlan
- 4 months ago
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I hope they still ship for free...
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Honestly, heard of this site like once for twice and never used it. And Im not normally so out of the loop.
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I thought Zappos was doing just fine on its own? Sounds like the investors just wanted to make a fatter dime.
