Supermarket Morrisons is spending £70m on buying Kiddicare.com - a UK-based website which flogs stuff for kids and babies. Morrisons said the big buy was just a first step into developing its ecommerce business. The site will continue to function as a stand-alone site run by Scott and Elaine Weavers-Wright. The company turned …
Are they buying the shop too?
If they're buying the web site and that generates 80% of business, does that mean they're also buying the shop or are the original owners keeping 20% turnover for themselves?
I know setting up an ecommerce web site would cost a bit, but are they absolutely sure it's worth spending £70m on an existing site? Don't see Tesco's doing that - when they want to do something they just seem to set it up themselves, like Tesco Direct. Noteably, they seem to make a lot more money than Morrisons.
Not a site
They're not buying a site. They're buying a business, with existing customers. I could build them a site, but it wouldn't come with £37.5m of turnover.
Seventy-five percent growth
I think a significant contribution towards that 75% growth is due to two factors: being told three years ago that my wife was pregnant; and her PayPal account...
- DAYS from end of life as we know it: Boffins tell of solar storm near-miss
- Put down that Oracle database patch: It could cost $23,000 per CPU
- Bose says today IS F*** With Dre Day: Beats sued in patent battle
- The END of the FONDLESLAB KINGS? Apple and Samsung have reason to FEAR
- Review Porsche Panamera S E-Hybrid: The plug-in for plutocrats