Amazon.com Acquisitions Extend Company's Ability to Serve
SEATTLE, WA (April 27, 1998)--Amazon.com, Inc. (NASDAQ: AMZN), today
announced that it has acquired three leading Internet companies: Bookpages, Ltd;
Telebook, Inc.; and Internet Movie Database Ltd. Amazon.com expects online
retailers Bookpages and Telebook to become fundamental components of its
expansion into the European marketplace, and Internet Movie Database to support
its eventual entry into online video sales.
"These acquisitions will enable Amazon.com to quickly offer European
consumers the same combination of selection, service, and value that we now
provide our U.S. customers," said Jeffrey P. Bezos, Amazon.com founder and
CEO. "I'm excited about these companies because each has a relentless focus
on customer service, an unwavering commitment to Internet commerce, and a smart,
innovative management team."
Bookpages (www.bookpages.co.uk) is one of the largest online bookstores in
the United Kingdom, providing access to all 1.2 million U.K. books in print.
Bookpages Managing Director Dr. Simon Murdoch said of the acquisition,
"This is fantastic news for Bookpages and its customers.g By combining
Amazon.com's resources with Bookpages' in-depth knowledge of the U.K.
marketplace, we can provide even better service and selection to our customers
inside and outside of the United Kingdom."
Telebook (www.telebuch.de), operating through its ABC Bücherdienst
subsidiary, is Germany's number one online bookstore, with a catalog of nearly
400,000 German-language titles. Telebook President Michael J.G. Gleissner
commented, "Telebook's longtime local expertise in online bookselling in
Germany combined with Amazon.com's worldwide brand and powerful technology will
lead to tremendous benefits for the customer."
Originally launched in 1990, Internet Movie Database (www.imdb.com) is a
comprehensive repository for movie and television information on the Internet.
"Everyone at IMDb is excited about becoming a part of Amazon.com,"
said Colin Needham, IMDb Managing Director. "Because of their similar
passion for books, the Amazon.com team understands and fully supports IMDb's
mission of providing the best possible information to movie lovers."
Each of the acquisitions will be accounted for under the purchase method of
accounting. The company will incur total charges of approximately $55 million in
connection with all three transactions. Consideration was comprised of cash and
common stock, and the company anticipates issuing an aggregate of approximately
540,000 shares of common stock as a result of these transactions.
Amazon.com, Inc., Earth's Biggest Bookstore, is the largest online retailer
of books. Amazon.com offers a catalog of more than 3 million book, music, and
other titles, plus easy-to-use search and browse features, e-mail services,
personalized shopping services, secure Web-based credit card payment, and direct
shipping to customers. Amazon.com has virtually unlimited online shelf space and
offers customers a vast selection through an efficient search-and-retrieval
interface, as well as streamlined ordering through 1-ClickSM technology.
Amazon.com pioneered the concept of syndicated selling on the Internet and has
more than 40,000 members in its Associates Program including AOL.com, Yahoo!,
Netscape, Excite, the AltaVista Search Service, the @Home Network, the Prodigy
Shopping Network, and iVillage.
This announcement contains forward-looking statements that involve risks and
uncertainties that include, among others, Amazon.com's limited operating
history, the unpredictability of its future revenues, and risks associated with
capacity constraints, management of growth, and new business opportunities. More
information about factors that potentially could affect Amazon.com's financial
results is included in the company's Annual Report on Form 10-K for the year
ended December 31, 1997, filed with the Securities and Exchange Commission.
Amazon.com, Earth's Biggest Bookstore, and 1-Click are service marks of
Amazon.com, Inc. All other names are trademarks of their respective owners.