In its second-largest acquisition, Amazon buys the company for $970 million.
Both Global Sports and REI are reporting major increases in fourth quarter and 2000 sales.
Leading online sporting good web site operator Global Sports Inc. reported Q4 2000 revenues of $20.3 million, a 269% increase over $5.5 million in Q4 1999. For the fiscal year, Global Sports` revenues were $42.8 million. The company has no prior-year numbers to compare to since it started operating in the fourth quarter of 1999. In 2000, the company launched web sites for iQVC, Bally Total Fitness and completed its acquisition of Fogdog.com. For 2001, Global Sports expects to have Q1 net sales of $14.5 million to $15.5 million and about $100 million for the year.
Meanwhile, outdoor gear retailer REI.com had 2000 sales of $92 million, a 125% increase over last year`s $41 million. January sales were up 70% from January 2000. REI.com was cited for being among the top online retailers for holiday site performance and fulfillment time. The Holistic Performance Index ranked REI among the top 1% of 300,000 sites tested for page download and server response time during November, while Bizmetric noted REI as one of the fastest e-commerce sites in order delivery time.