|Amazon.com and Eziba.com Announce Investment and Strategic Alliance; Leading Online Retailer to Introduce Customers to Handcrafted Goods|
SEATTLE and NO. ADAMS, Mass.--(BUSINESS WIRE)--March 28, 2000--Leading online retailer Amazon.com (Nasdaq:AMZN) (www.amazon.com) and eZiba.com announced today that Amazon.com has invested $17.5 million in eZiba.com, a leading online retailer of handcrafted products from around the world.
Amazon.com will introduce eZiba.com's product offerings to its more than 17 million customers.
Named for the Persian word for "beautiful" ("ziba"), eZiba.com (www.eziba.com) is a premier source for world crafts. They offer, exclusively via the Internet, beautiful objects of every kind--home furnishings, apparel, jewelry, and gifts--made by artisans from every corner of the globe. eZiba.com combines a select and constantly changing retail product offering with exclusive-collection auctions and information about the origins of the products it sells.
"We are pleased to introduce our customers to eZiba.com's unique and hard-to-find products," said Joe Galli, president and chief operating officer Amazon.com. "eZiba.com's product offering helps expand our product selection, contributing to our ability to provide customers with anything they might want to buy online."
"We are delighted to establish this relationship with Amazon.com, the leading e-commerce site," said Dick Sabot, eZiba.com cofounder and chairman of the board. "It allows us to introduce the array of extraordinary goods eZiba.com has to offer to the millions of Amazon.com customers who are confident and enthusiastic about buying online. Perhaps the most exciting aspect of the alliance with Amazon.com is the opportunity to continue our explosive growth by tapping into an entirely new customer base."
Upon completion of its investment this past January, Amazon.com owns approximately 20 percent of eZiba.com's outstanding shares, with warrants to acquire additional shares in the company.
eZiba.com launched November 9, 1999, as the premier online catalog and global bazaar, offering an exclusive and constantly changing selection of authentic handcrafted items created by artisans from around the world. The product offering--available through an online catalog and themed auctions--ranges from home furnishings, accessories, and apparel to art and artifacts, gifts, and toys. Blending education, entertainment, and e-commerce, the Web site is designed to inform and inspire the shopper with a presentation rich in cultural context, and with content that conveys the story and the people behind each object. Other investors in eZiba.com in the $70 million round are Rho Management of New York (Compaq, iVillage), New Enterprise Associates of Baltimore (UUNet, Silicon Graphics), and Berkshire Capital Investors (Tripod). eZiba.com is headquartered at MASS MoCA, a museum of contemporary art and high-tech center in North Adams, Massachusetts.
Amazon.com (Amazon.com, Inc., and its subsidiaries) is the Internet's No. 1 music, No. 1 DVD and video, and No. 1 book retailer. Amazon.com (Nasdaq:AMZN) opened its virtual doors on the World Wide Web in July 1995 and today offers Earth's Biggest Selection, along with online auctions and free electronic greeting cards. Amazon.com lists more than 18 million unique items in categories including books, CDs, toys, electronics, videos, DVDs, home improvement products, software, and video games. Through Amazon.com zShops, any business or individual can sell virtually anything to Amazon.com's more than 17 million customers, and with Amazon.com Payments, any seller can accept credit card transactions, avoiding the hassles of offline payments. The company also participates in sothebys.amazon.com, the leading auction site for guaranteed art, jewelry, and collectibles, at www.sothebys.amazon.com.
This announcement contains forward-looking statements that involve risks and uncertainties that include, among others, Amazon.com's limited operating history, anticipated losses, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risk of distribution center expansion, risks related to fourth quarter performance, risks of system interruption, management of potential growth, risks related to auction and zShops services, risks related to fraud and Amazon.com Payments, and risks of new business areas, international expansion, business combinations, and strategic alliances. 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 Annual Report on Form 10-K for the year ended December 31, 1998 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 1999, June 30, 1999, and September 30, 1999.
CONTACT: Amazon.com Sharon Greenspan, 206/266-7180 or eZiba.com James LaForce Karen Peterson LaForce & Stevens 212/242-9353