Amazon.com expands their ownership in Joyo.com
June 7th, 2007 Leave a comment Visited 39 times, 1 so far today
Amazon.com expands their ownership in Joyo.com
US based retailing giant Amazon.com has revealed that they have increased their investments in the Chinese company Joyo.com.
Joyo.com is a leading online shopping platform in China which happens to be one of the fastest growing international markets for Amazon.com.
Jeff Bezos, founder and chief executive of Amazon.com spoke about this new development: “This team has made a bunch of fantastic improvements to the customer experience in terms of selection and pricing.”
The unfortunately thing is that Joyo.com is yet to turn a profit. Amazon however is optimistic. The company said that they believe that it took 5-7 years to turn a profit in a new market.
Bezos added: “We have the resources and the patience to invest for a long time. This is day one, nothing has really happened yet.”
Checkout: Joyo.com
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