A Billion-Dollar Question for Zappos and Amazon

When Amazon.com (AMZN) agreed to buy Zappos last week for $847 million in cash and stock, most reports said that the online shoe and clothing store had over $1 billion in sales last year.

But when Amazon filed its official paperwork about the deal with the SEC today, the company reported 2008 net revenues of just $635 million.

Why the more than $300 million discrepancy?

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