In its second-largest acquisition, Amazon buys the company for $970 million.
Internet surfers using online gift currency Flooz are more likely to buy from online merchants, says Flooz CEO Robert Levitan. Speaking today at Faulkner & Gray's CardTech/SecurTech Conference in Miami, Levitan said the typical Web site conversion rate for online shoppers is 1.5%. For shoppers looking to spend their Flooz, that conversion rate jumps to 12%, says Levitan. He also announced a marketing agreement with Chase Manhattan Corp. to offer visitors to its Web site free Flooz for Mother's Day.