In its second-largest acquisition, Amazon buys the company for $970 million.
For the second quarter ended June 30, 2000, multi-category Internet superstore buy.com showed revenues of $193.2 million, up 49.4%, compared to the $129.3 million in second-quarter 1999. Revenue growth was driven by a 195% increase in cumulative customer accounts, says the Aliso Viejo, Calif.-based company, rising to 2.8 million, compared to 900,000 in the same period a year ago. Repeat orders represented 62% of orders during second-quarter 2000, it adds, up from 58% in first-quarter 2000. The company had a net loss of approximately $33.6 million for the quarter, compared to a net loss of approximately $28.1 million for the same period last year.