Deals
Amazon Closes Money-Losing Quidsi to Narrow Focus on Groceries
- Retailer purchased Diapers.com owner for $545 million in 2011
- Quidsi founder now fighting Amazon from new role at Wal-Mart
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Amazon.com Inc. is closing Diapers.com, Soap.com and other sites it purchased for about $545 million in 2011 to eliminate a dogged competitor and gain e-commerce customers.
The online retailer said it’s shutting Quidsi, the unit that ran the websites, because it couldn’t make a profit. But e-commerce analysts said Amazon probably intended to eliminate the sites as stand-alone businesses at some point, and the company’s renewed grocery push is an ideal time to consolidate brands.