Amazon buys Diapers.com in $545 mln deal |
| MarketWatch - Nov 8, 2010 |
Amazon.com Inc. said Monday that it will buy Quidsi Inc. — the parent company of Diapers.com and Soap.com — in its second largest acquisition since last year’s purchase of Zappos.com.
Amazon /quotes/comstock/15*!amzn/quotes/nls/amzn (AMZN 172.18, +1.41, +0.83%) will pay $500 million in cash and assume another $45 million in debt and other obligations to acquire the outstanding shares of the New Jersey-based online retailer. The deal is expected to close next month.
Quidsi is a venture-backed company that launched Diapers.com in 2005. The sister site Soap.com launched earlier this year.
According to Shawn Milne of Janney Capital Markets, the purchase price for Quidsi amounts to about 1.8 times the company’s estimated sales for 2010, reflecting a slight premium to Amazon’s largest acquisition to date — the $1.2 billion purchase of Zappos.com last year.
Read Full Article from MarketWatch
- Posted: 2010-11-08 14:11:11
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