Thursday, October 7, 2010

Amazon Acquires BuyVIP.com

Seattle-based Amazon.com said Wednesday night that it has reached an agreement to acquired BuyVIP.com, a Spanish operator of a fashion and lifestyle e-commerce firm. Financial terms of the buy were not disclosed, but the deal has been reported to be worth around $96M. BuyVIP.com offers time-limited deals from fashion and lifestyle brands, and claims six million members. BuyVIP's services as similar to the US's Gilt Group and HauteLook. Amazon said the acquisition would "provide another unique way" for customers to find and discover products. The deal is expected to close in Q4.