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Article: Amazon to Buy Chinese Web Site Joyo.com
- Article from:
- AP Online
- Article date:
- August 19, 2004
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
08-19-2004
Dateline: SEATTLE
Amazon.com Inc. said Thursday it has agreed to buy Joyo.com Ltd., China's largest online retailer of books, music and videos, for $72 million.
Joyo, which was founded in 2000, will become Amazon's seventh global Web site. Amazon said its entry into China will allow it to service the more than 80 million consumers already online there.
Joyo, incorporated in the British Virgin Islands, operates the Joyo.com Web sites in cooperation with Chinese subsidiaries and affiliates.
Amazon was ...