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?