In its second-largest acquisition, Amazon buys the company for $970 million.
(www.cybershop.com) CyberShop.com Inc., an online retailer of designer apparel and home furnishings, has signed an expanded deal with Yahoo! Inc. Under the terms of the agreement, CyberShop merchandise will be featured in the apparel, accessories, electronics, gifts, home, toys and games directory of (http://shopping.yahoo.com) Yahoo! Shopping.
This agreement will give Yahoo!'s users access to CyberShop.com's assortment of brand name merchandise, at discounts of up to 80% off original prices every day, it says. In addition to CyberShop products being integrated into the seven categories, they will also be featured on related search results pages within Yahoo!.
The deal will enable it "to continue driving top-line growth" and to reach millions of additional online shoppers, says Jeff Tauber, chairman and CEO. He adds that the deal will allow the company to be "well-positioned to capitalize on the upcoming holiday season."
Jersey City, N.J.-based CyberShop also operates (www.electronics.net) electronics.net, a joint venture with Tops Appliance City. It offers an assortment of consumer electronics, appliances and home office equipment for sale online.