Amazon.com to Acquire Zappos.com

Wow, didn’t see this one coming. Congrats Tony and the Zappos team!

mikehudack:caterpillarcowboy:

Under the terms of the agreement, Amazon will acquire all of the outstanding shares and assume all outstanding options and warrants of Zappos in exchange for approximately 10 million shares of Amazon common stock, equal to approximately $807 million based on the average closing price for the 45 trading days endingJuly 17, 2009. In addition, Amazon will provide Zappos employees with $40 million in cash and restricted stock units. Subject to various closing conditions, the acquisition is expected to close during the Fall of 2009.