In its second-largest acquisition, Amazon buys the company for $970 million.
Timebeat.com will become a merchant partner with fashionmall.com starting Monday. All of Timebeat4teens.com products will be featured on the fashionmall.com network with direct links to the Timebeat4teens.com product buy pages.
As part of its strategy to be a strong competitor to industry leaders such as Alloy.com and Delias.com, North Palm Beach, FL-based Timebeat.com Enterprises Inc. will become a merchant partner with fashionmall.com Inc. starting Monday. All of Timebeat4teens.com products will be featured on the fashionmall.com network with direct links to the Timebeat4teens.com product buy pages. The fashionmall.com web site receives over 1 million hits per month.
Fashionmall.com operates a variety of vertical shopping and content portals in the fashion, beauty and lifestyle markets including boo.com, outletmall.com and beautyjungle.com. Fashionmall.com generates revenue through traffic-based contracts and slotting fees with manufacturers, retailers, magazines and catalogs who advertise, display and sell their products on our sites as well as through traditional advertising and sponsorship sales.
"In the next several months, Timebeat4teens will follow its business plan that we expect will culminate in the company becoming one of the leading teen fashion portals," Thomas Crom, chairman of Timebeat.com, said. "Timebeat management is committed to forming strategic alliances with other major portals to accomplish its objective of being a major force in the online teen fashion arena."