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

Amazon pulls plug on Quidsi due to losses


Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


TMT Digital Newsletter: May 2021


Fintech Intelligence Digital Newsletter: May 2021

Amazon pulls plug on Quidsi due to losses 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 and 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 in 2015. was sold to Wal-Mart for $3.3 billion in 2016, according to the report.