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Archive for August 1st, 2008

01 08 2008

Amazon.com buys AbeBooks

Posted by: in Latest News

In an effort to increase its market-share in the used and rare book market, Amazon.com, Inc. (NASDAQ: AMZN) has acquired AbeBooks, a leading online marketplace for independent book dealers.

The terms of the deal weren’t disclosed but, in a press release, Amazon stated that “AbeBooks will continue to function as a stand-alone operation based in Victoria, British Columbia.”

It’s hard to know what to make of this deal without knowing the terms or having any information on AbeBooks’ finances but it seems like a good strategic fit. Amazon is the internet leader in new and used books and, by adding Abe, they’ll also be the leader in rare books too.

It’ll be interesting to see what kind of presence they give Abe on the Amazon site because the two sites are direct competitors for the business of used book dealers and buyers — the obvious thing to do would be to transport all of Abe’s listings so they show up on Amazon too under “used” but that could annoy sellers by making the market more competitive.

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01 08 2008

The Independent | Money | Latest Money News| Money Saving | Mortgages

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01 08 2008