Feeds

Amazon snaps up Chinese etailer

Oh, what Joyo.com

  • alert
  • submit to reddit

Intelligent flash storage arrays

Amazon.com is moving in on China, by buying Joyo.com, the country's biggest retailer of books, music and videos. The deal values Joyo.com - which is headquartered in the British Virgin Islands - at $75m (£41m).

Said Amazon.com founder and chief exec Jeff Bezos: "We are very pleased to be entering the Chinese market with Joyo.com. In a relatively short time, Joyo.com has established itself as the leading online destination for books, music and videos in China, and we're happy to be part of one of the world's most dynamic markets."

The deal is expected to be completed in the autumn. Even so, the giant Internet retailer doesn't expect the acquisition to have a "significant impact on net sales or operating profit in third quarter 2004 or fiscal 2004".

Founded in May 2000, Joyo.com also flogs software, health and beauty products, as well as gifts and toys online.

According to the China Internet Network Information Center (CNNIC), he number of Net users in China as of the end of June topped 87m - up 28 per cent on the year. Of those, around a third are broadband users. All the main figures suggest that more and more people in China are getting hooked on the Net, feeding a notable increase in ebanking and online shopping

But while Net use is growing, authorities have taken strict measures to censor access to material deemed politically sensitive or sexually explicit.

This week, for example, a Chinese woman was jailed for four years for running an online strip joint. Wang Yanli is believed to be the first woman to be banged up behind bars, following China's tough new stand against Internet pornography. ®

Related stories

China jails woman in porn crackdown
Veritas opens China shop
Chinese sales staff sent to beg in streets
China terminates 700 sites in porn crackdown
Beijing stamps down on Net porn

Beginner's guide to SSL certificates

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.