Amazon Buys Zappos and Yahoo! acquires Xoopit
Posted by Ramakanth | Posted in acquisitions, yahoo | Posted on 23-07-2009
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Today there is flurry of online take-overs,two internet biggies acquired other main stream Companies.
Amazon Buys Zappos
Amazon announced that it will be acquiring popular online shoe retailer Zappos.com for for 10 million Amazon shares or $807 millions. But Techcrunch reports that the price of Zappo’s stock will actually drive the deal up to around $920 millions.
Tony Hsieh, founder of Zappos,also announced this deal in his Twitter account,also check this letter,that was sent to all Zappos employees.
We have to see how these two different cultures will cope up each other,Zappos is the most transparent companies on the Web, where as Amazon intensely private about its doings.
Yahoo! acquires Xoopit:
Today Yahoo conformed that it has acquired Xoopit for $20 millions,although details of the acquisition were not disclosed.
Xoopit makes browser plug-ins that allow consumers to find photos and other media quickly within email(especially Gmail).
This Firefox addon was initially geared towards Google’s Gmail,Yahoo has been interested in this technology for a while and has even integrated some of the functionality in Yahoo Mail.
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