In its second-largest acquisition, Amazon buys the company for $970 million.
A new online seller of DVDs is booming after six months online.
DeepDiscountDVD.com, a division of Itasca, IL-based Infinity Resources Inc., says sales have quadrupled in its first three months of business, exceeding projections by 100%. The company did not provide exact sales numbers. The site is getting more than 18 million hits on its site per month in only six months of being online. Nearly 20% of the traffic to DeepDiscountDVD.com that has been referred from price comparison web sites have been converted to sales orders. The company touts its low-key approach of selling DVDs online and its no-frills operations, compared to other sites such as Reel.com, Express.com and BigStar, who have high-profile content and also have curtailed operations in recent months. Its parent company, Infinity, maintains its position as a low-cost operator by drawing on the success of its other online property, Critics’ Choice Video, which sells classic and rare movies through its web site CCVideo.com and catalogues. The company also cites the increase in DVD player purchases as a driver for its business.