Amazon.com, Inc. (AMZN) Shutting Down Diapers.com

Amazon.com, Inc. (NASDAQ:AMZN) has announced that it will be shutting down Diapers.com.

Amazon.com, Inc. (AMZN)
Source: Amazon

The e-commerce site bought a number of domain names and turned them into retail websites a while back with the hopes of attracting consumers who searched for these names online. However, a number of them aren’t exactly working out and Amazon will be shuttering them.

Diapers.com is among the notable ones that have been on the decline, along with Soap.com and Wag.com. All these sites focus on one specific item, much like the name suggests.

The sites were acquired by Amazon’s Quidsi division in 2010 for $545 million, but hard times have hit Diapers.com and co. A company spokesperson said the company has been working hard to turn the division into a profitable one, but it has failed to result in profits yet.

“Quidsi has great brand expertise and they will continue to offer selection on Amazon.com; the software development team will focus on building technology for AmazonFresh,” the spokesperson added.

The Quidsi New Jersey headquarters are located in New Jersey, where roughly 260 workers will be let go by the company. These former employees will have the opportunity to remain with the company by applying to other positions.

AMZN shares grew 0.2% Thursday. Here are some reasons why AMZN stock could reach $1,000 by Labor Day.


Article printed from InvestorPlace Media, https://investorplace.com/2017/03/amazon-com-inc-amzn-diapers-com/.

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