Amazon Acquires Zappos For $885 Million
Today Amazon announced that it is acquiring online footwear retailer Zappos for $885 million. Zappos has been around for 10 years. It did over $1 billion in sales last year. The deal is mostly in stock.
Zappos is known for its excellent customer service. It also offers free shipping and returns on all items. The company has 1,300 employees.
Zappos had raised roughly $60 million total from Sequoia Capital, Venture Frogs, ZVest, and Tony Hsieh. The investors will see a health return