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Confirmed: Amazon Spends $545 Million On Diapers.com Parent Quidsi

November 8th, 2010 11:04 admin Leave a comment Go to comments

Amazon.com has just announced that it has reached an agreement to acquire Quidsi, which operates ecommerce sites Diapers.com, Soap.com and BeautyBar.com. The acquisition news first broke over the weekend by Fortune’s Dan Primack, who pegged the purchase price at $540 million.

He wasn’t far off – Amazon says it will acquire all of the outstanding shares of Quidsi for approximately $500 million in cash.

The ecommerce juggernaut will also assume approximately $45 million in debt and similar obligations, bringing the total price to $545 million.

The acquisition is expected to close by year’s end. Following the acquisition, Quidsi will continue to operate independently under its current leadership team.

Founded by Vinit Bharara and Marc Lore, Quidsi has raised a total of $78.5 million. Its most recent financing was a $20 million debt round last April from investors including Accel, Bessemer Venture Partners, MentorTech, and New Enterprise Associates.

The Quidsi deal is similar to the one struck with online shoe retailer Zappos, which Amazon acquired for $1.2 billion a year ago.

(Updates coming)

Source: Confirmed: Amazon Spends $545 Million On Diapers.com Parent Quidsi

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