[ PW Home ] [ Bestsellers ] [ Subscribe ] [ Search ]

Publishers Weekly News

More Amazon Dealing
Steven M. Zeitchik -- 3/27/00

To help it make further acquisitions, Amazon.com is seeking to increase drastically the amount of stock it can issue without permission from shareholders. The proxy that contained the request said that the company is looking to triple the figure, from 1.5 billion shares to five billion.

Also in the investment department, Amazon has confirmed its $60 million infusion into Kozmo.com, the on-demand delivery service that counts books as one of its products and that announced last week it would go public.

As part of the arrangement, Amazon.com said it will institute a one-hour delivery option in select cities. The company didn't release too many details, saying only that the program would apply to "certain" books, CDs and toys when it g s into effect later this year. What also remains unclear is the extent to which the one-hour experiment is a function of broader strategy, as opposed to a defensive strike against B&N.com. Reports about the New York bookseller testing the system came out first, but Amazon beat the bookseller to its destination.
Back To News
--->
Search | Bestsellers | News | Features | Children's Books | Bookselling
Interview | Industry Update | International | Classifieds | Authors On the Highway
About PW | Subscribe
Copyright 2000. Publishers Weekly. All rights reserved.