Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Amazon is giving Joyo.com, a growing online Chinese mass merchandise site, greater brand recognition and better personalization technology. Going forward Joyo.com also will be co-branded as Joyo Amazon.
Amazon.com is giving Joyo.com, a growing online Chinese mass merchandise site, greater brand recognition and better personalization technology.
Going forward Joyo.com, which offers the largest selection of Chinese language books, will be co-branded as Joyo Amazon. Joyo, which Amazon became affiliated with in 2004, also now features Amazon’s personalization technology, including a personalized tab at the top of every product page that provides customized recommendations based on the customer`s purchase and browsing history.
Amazon, No. 1 in the Internet Retailer Top 500 Guide, is investing more resources in Joyo to keep pace with rapid growth in the Chinese web retailing market. Since 2004, Joyo.com has introduced more product categories at a faster rate than any of its other web sites, Amazon says. "We are contributing our extensive technology and expertise to make Joyo the very best in the world at serving customers," says Amazon CEO Jeff Bezos.
Originally launched as an online bookstore in 2000, Joyo now offers hundreds of thousands of items in 20 categories, including electronics, watches, mother/baby product, kitchen and health/personal care. Joyo.com also provides cash on delivery services to more than 330 cities in China and same-day delivery to customers in Beijing, Shanghai and Guangzhou.
Amazon.com is Joyo’s chief technology developer. In 2004 Amazon acquired Joyo.com Ltd which, through a Chinese entity, provides technology and consulting services for Joyo.com. “By applying Amazon`s technology and experience to the Chinese market, we`ve been able to make significant improvements across all areas of our web site,” says Joyo.com`s president Hanhua Wang.