trending Market Intelligence /marketintelligence/en/news-insights/trending/yikIOF68EadzmkiT7eY5mg2 content esgSubNav
In This List

Amazon pulls plug on Quidsi due to losses

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

Does Disney+ Hotstar minus IPL equal trouble for the streaming giant?

Blog

SVOD players open to hybrid models; Netflix and Disney to add ad-supported plans

Blog

Broadband revenues continue to grow in CEE


Amazon pulls plug on Quidsi due to losses

Amazon.com Inc. is closing parenting-focused ecommerce unit Quidsi due to its inability to generate a profit, Bloomberg News reported March 29.

About 260 staff will be laid off in June once the New Jersey-based company that runs Diapers.com and Soap.com shuts down, according to the report, citing the company's filing with the New Jersey Department of Labor.

Quidsi's software development team will instead focus on grocery delivery service AmazonFresh.

Amazon acquisition Quidsi in 2011; its founder Marc Lore stepped down in 2013 and launched Amazon competitor Jet.com in 2015. Jet.com was sold to Wal-Mart for $3.3 billion in 2016, according to the report.