Tag Archives: Zappos
Zappos Suspends Shipping In Canada
Amazon.com, Inc. (NASDAQ:AMZN) subsidiary Zappos.com has suspended shipping to Canada. Canada is known for having expensive shipping programs so it is likely that this affected the company’s decision. If you go to http://canada.zappos.com, you’ll see the following message:
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Categories Amazon, Amazon.com, Zappos
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Sequoia Made $248 Million From Zappos Sale
Zappos founder Tony Hsieh wrote a lengthy article on Inc. magazine earlier this month where he highlighted why he sold Zappos to Amazon.com. Below are some of the bullet points from the article.
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Categories Amazon, Amazon.com, Sequoia Capital, Zappos
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As Part of Zappos Deal, Amazon.com Now Owns Clothes.com
Amazon.com acquired Zappos for $928 million in July. As part of the acquisition, Amazon.com also owns the domain name Clothes.com. Zappos originally bought the domain name from Idealab for $4.9 million. These details were discussed in the SEC filing of the acquisition.
Below is a statement from the SEC filing:
In May 2008, we acquired the Clothes.com internet domain name from Idealab. The domain name was recognized as a purchased intangible asset with a useful life of 20 years. The entire purchase price of $4.9 million was assigned to the price of the domain name intangible asset and will be amortized on a straight-line basis over its remaining estimated useful life.
At the $4.9 million transaction Clothes.com was the second biggest domain name sale in 2008. The first biggest was Fund.com which was at $10 million. Clothes.com forwards to Zappos.com’s clothing section.
[via TechCrunch]
Categories Amazon.com, Zappos
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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
Categories Amazon, Zappos
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