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Retail

Amazon Becomes Shoe Deity, Takes Over Zappos (AMZN)

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By Douglas A. McIntyre Updated Published
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AMZN LogoThis 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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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