Amazon ups spending in China
PrintFastest growing market
Posted in Financial News, 5th June 2007 10:08 GMT
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Online bookseller Amazon is increasing investment in its Chinese business - where sales are growing faster than anywhere else.
The Chinese site sells books, watches, CDs, DVDs, and electronic gadgets. Amazon paid $75m for Joyo in 2004.
Jeff Bezos, chief executive of Amazon.com, did not give figures but said he wanted to "double down" investment. Bezos said "double down" was a backgammon term to increase your stake rather than a literal doubling of investment.
The site is being rebranded as Joyo Amazon.cn.
More from Bloomberg here. ®
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