Amazon.com to Buy Diapers.com and Soap.com for $500 Million
Nov 8th 2010 7:30PM
Updated Nov 8th 2010 7:35PM
Amazon.com (AMZN) said Monday that it's buying Quidsi, the company that owns Diapers.com and Soap.com. The world's largest online retailer plans to pay $500 million in cash for Quidsi and also to assume about $45 million in debt from the deal.
The deal is part of Amazon.com's push to boost revenue outside of its sales of books, CDs and DVDs. The company said last month that its third-quarter profit rose 16%, largely on an 80% surge in sales from nonmedia items like electronics products and other consumer goods. Its overall revenue grew 39%, from the same period a year earlier, to $7.56 billion.
The transaction is expected to close by year-end. Quidsi's investors include Accel Partners and Bessemer Venture Partners.