Amazon to Buy Diapers.com: Report
Electronic-retailing giant Amazon.com is purchasing Quidsi, the parent company of Diapers.com and Soap.com, according to <I>Fortune</I>.
SEATTLE (
) --
Amazon.com
(AMZN) - Get Report
is acquiring Quidsi, the parent company of Diapers.com and Soap.com, according to a published media report.
The price tag is $540 million in cash, according to the report, which was posted on
Fortune's
Web site Saturday. That's $200 million more than Quidsi's valuation in its latest round of venture financing, the report added.
Quidsi's co-founders Marc Lore and Vinnie Bharara have agreed to multiyear employment contracts at Seattle-based Amazon, the report also said.
The electronic-retailing giant planned to announce the deal on Monday, the report said.
Amazon shares closed Friday at $170.77.
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This article was written by a staff member of TheStreet.
