Retail
Amazon Becomes Shoe Deity, Takes Over Zappos (AMZN)
Published:
Last Updated:
This will seem like a no-brainer when you consider it. Amazon.com Inc. (NASDAQ: AMZN) is acquiring online shoe leader Zappos.com in a deal said to be worth some $807 million consideration after shares, options, and warrants. The deal calls for 10 million shares of Amazon.com, and $40 million in cash to go to Zappos.com employees along with restricted stock units.
The deal is subject to closing conditions and is expected to close this Fall. Zappos’ management team will remain intact and will operate independently at its headquarters in Las Vegas.
Frankly, this is one of those mergers that you just can picture easily a million miles away. It just makes you wonder which other specialty online retailers will be acquired by Amazon down the road.
Amazon stock closed down 0.25% at $88.79 and is down by roughly the same amount in the after-hours session.
JON C. OGG
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
