Amazon acquires online shoe retailer Zappos for $850 million is acquiring online shoe and merchandise retailer Zappos in a mostly stock deal valued at about $850 million. It is the biggest acquisition in Amazon's history. The Zappos acquisition dwarfs other recent Amazon deals. The company spent a total of $432 million on acquisitions in 2008, about $300 million of which went toward acquiring audiobook company Audible. Amazon said the Zappos management team in Las Vegas will remain intact and Zappos will continue to operate as its own brand. more

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