SEATTLE, Nov 08, 2010 (BUSINESS WIRE) --
Amazon.com, Inc. (NASDAQ: AMZN) today announced that it has reached an
agreement to acquire Quidsi, Inc., which operates Diapers.com, an online
baby care specialty site, and Soap.com, an online site for everyday
essentials.
"I'm not sure which is more unpleasant--changing diapers, paying too much
for them, or running out of them," said Jeff Bezos, Founder and CEO of
Amazon.com. "This acquisition brings together two companies who are
committed to providing great prices and fast delivery to parents, making
one of the chores of being a parent a little easier and less expensive."
"Amazon shares our commitment to the customer," said Marc Lore,
Co-Founder, Chief Executive Officer and Chairman of Quidsi. "We are
excited to be part of a company that will help us to serve an even
larger audience, and we will continue delivering unexpectedly great
service that makes life a little easier - that is our mission."
"Amazon is a pioneer," said Vinit Bharara, Co-Founder and Chief
Operating Officer of Quidsi. "Amazon is built on a culture of innovation
and long-term vision. Quidsi is driven by these same core values, and we
look forward to joining forces."
Following the acquisition, Quidsi will continue to operate independently
under its current leadership team.
In addition to Diapers.com and Soap.com, Quidsi recently launched
BeautyBar.com, a prestige beauty boutique.
Under the terms of the agreement, which has been approved by Quidsi's
stockholders, Amazon will acquire all of the outstanding shares of
Quidsi for approximately $500 million in cash, as adjusted for the
assumption of options and warrants, and also assume approximately $45
million in debt and similar obligations. Subject to various closing
conditions, the acquisition is expected to close in December 2010.
About Amazon.com
Amazon.com, Inc. (NASDAQ: AMZN), a Fortune 500 company based in Seattle,
opened on the World Wide Web in July 1995 and today offers Earth's
Biggest Selection. Amazon.com, Inc. seeks to be Earth's most
customer-centric company, where customers can find and discover anything
they might want to buy online, and endeavors to offer its customers the
lowest possible prices. Amazon.com and other sellers offer millions of
unique new, refurbished and used items in categories such as Books;
Movies, Music & Games; Digital Downloads; Electronics & Computers; Home
& Garden; Toys, Kids & Baby; Grocery; Apparel, Shoes & Jewelry; Health &
Beauty; Sports & Outdoors; and Tools, Auto & Industrial. Amazon Web
Services provides Amazon's developer customers with access to
in-the-cloud infrastructure services based on Amazon's own back-end
technology platform, which developers can use to enable virtually any
type of business. Kindle, Kindle 3G and Kindle DX are the revolutionary
portable readers that wirelessly download books, magazines, newspapers,
blogs and personal documents to a crisp, high-resolution electronic ink
display that looks and reads like real paper. Kindle 3G and Kindle DX
utilize the same 3G wireless technology as advanced cell phones, so
users never need to hunt for a Wi-Fi hotspot. Kindle is the #1
bestselling product across the millions of items sold on Amazon.
Amazon and its affiliates operate websites, including www.amazon.com,
www.amazon.co.uk,
www.amazon.de,
www.amazon.co.jp,
www.amazon.fr,
www.amazon.ca,
and www.amazon.cn.
As used herein, "Amazon.com," "we," "our" and similar terms include
Amazon.com, Inc., and its subsidiaries, unless the context indicates
otherwise.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Actual results may differ significantly
from management's expectations. These forward-looking statements involve
risks and uncertainties that include, among others, risks related to
competition, management of growth, new products, services and
technologies, potential fluctuations in operating results, international
expansion, outcomes of legal proceedings and claims, fulfillment center
optimization, seasonality, commercial agreements, acquisitions and
strategic transactions, foreign exchange rates, system interruption,
inventory, government regulation and taxation, payments and fraud. More
information about factors that potentially could affect Amazon.com's
financial results is included in Amazon.com's filings with the
Securities and Exchange Commission, including its most recent Annual
Report on Form 10-K and subsequent filings.
About Quidsi
Quidsi operates Diapers.com (baby care), Soap.com (health, beauty, and
household essentials), and BeautyBar.com (prestige beauty boutique).
Quidsi's mission is to make life easier by creating a better e-commerce
experience, delivering within two days, and providing extraordinary
customer service. Quidsi is redefining e-commerce by combining the
customer focus and attention of a specialty store with the scale,
efficiency, choice, value and reliability of a national retailer.
Investors in Quidsi include Accel Partners, Bessemer Venture Partners,
BEV Capital, MentorTech Ventures and NEA. For more information, please
visit http://www.diapers.com/.
SOURCE: Amazon.com, Inc.
Amazon.com Public Relations Media Line, 206-266-7180
Amazon-pr@amazon.com
www.amazon.com/pr
or
LaunchSquad for Quidsi, Inc.
Tessa Greenwood or Lindsey Scott, 212-564-3665
quidsi@launchsquad.com
