Amazon is buying online shoe retailer Zappos for $928m (£562m), writes Brand Republic. Amazon founder Jeff Bezos announced the deal on YouTube, while Zappos founder Tony Hsieh simultaneously reported it on Twitter. Zappos grossed almost $1bn (£606m) in 2008 and is known for its fierce brand loyalty (boasting over 1m followers on Twitter) and high quality customer service.
Amazon has also revealed plans to place contextual ads directly within ebooks on its Kindle electronic book reader. The firm has filed a patent for opt-in ads which will directly relate to the material within downloaded books, enabling the publisher to make money from content including rare and out-of-print books.
From Brand Republic: http://www.brandrepublic.com, 23/07/2009
Amazon UK: http://www.amazon.co.uk