Amazon Buys Online Home Products Company Quidsi
Online retailer Amazon.com ( NASDAQ :AMZN) said Monday it was purchasing Quidsi, parent company of special online retailers Diapers.com and Soap.com in a deal worth about $500 million. The move adds even more “everyday” products to Amazon’s product portfolio, which is looking to become more than an online retailer. Under the terms of the deal, Amazon will acquire the privately-held Quidsi, which will continue to operate separately from Amazon.com’s main retail arm. The company’s current leadership team, headed by co-founder and COO Vinit Bharara, will remain on to help with the transition.