In its second-largest acquisition, Amazon buys the company for $970 million.
Shoppers shift more of their holiday shopping online.
The 2012 holiday season will likely be a happy time of year for many online retailers. Consumers are expected to spend $68.4 billion online during the season this year, a 15% jump from 2011, according to a new report from Forrester Research Inc. The average web shopper will spending $419 online, a 12% increase compared to last year, as consumers increasingly go online to buy gifts rather than visit the mall. "Web shoppers consistently report they often prefer to shop via the web channel during the holidays to avoid crowds and parking challenges," Sucharita Mulpuru-Kodali, Forrester vice president and principal analyst, wrote in the report. Consumers value convenience, she says, which is why many will use their mobile devices to shop at home, in stores and on the go.