The Wall Street Journalreports that Amazon.com is acquiring Zappos.com for over $800 million. The WSJ says Amazon will keep Zappos' management intact and operate the brand independently. Amazon does have a website called Endless.com that competes with Zappos in handbags and shoes.
Amazon.com's overall sales have been rising as more people shop online, some brick-and-mortar stores close and it offers additional product categories. The company has made a series of acquisitions recently, acquiring visual-product-search company SnapTell Inc. for an undisclosed amount last month.
"We are joining forces with Amazon because there is a huge opportunity to utilize each other's strengths and move even faster towards our vision of delivering happiness to customers, employees and vendors," said Tony Hsieh, CEO of Zappos. "We will continue to build the Zappos brand and culture in our own unique way, and we believe Amazon is the best partner to help us do this over the long term."
In a statement Amazon.com CEO Jeff Bezos said, "Zappos is a customer focused company. We see great opportunities for both companies to learn from each other and create even better experiences for our customers." There's also an open letter here from Zappos CEO Tony Hsieh. Here's a longer video statement from Jeff Bezos about the acquisition.
The Wall Street Journal 
