Bloomberg News

Amazon’s Quidsi Sees Founders Depart to Work on New Projects

July 08, 2013

Marc Lore and Vinit Bharara, founders of Amazon.com Inc. (AMZN:US)’s Quidsi unit, have left the company to focus on other projects, the online retailer said.

Lore, who was Quidsi’s chief executive officer, and Bharara, chief operating officer, told employees of their impending departure in April, Tim Volkema, a spokesman for Quidsi, wrote in an e-mailed statement. Maria Renz, formerly vice president of media at Amazon, took over as Quidsi’s CEO July 1, he said.

Amazon bought Quidsi, operator of Soap.com and Diapers.com, for about $545 million in April 2011, making it Amazon’s third-largest acquisition (AMZN:US) since the 2009 purchase of Zappos.com for $1.2 billion. Seattle-based Amazon purchased Kiva Systems Inc., a maker of robots that move items around warehouses, for $775 million last year.

“Lore and Bharara announced their decisions to employees in April and have been working with Renz since then to ensure a seamless transition,” Volkema said.

Executives and founders who have joined Amazon through acquisitions in some of its larger takeovers have remained at the online retailer. Mick Mountz, founder and CEO of Kiva Systems, is still at Amazon, and Tony Hsieh, who was CEO of Zappos when Amazon acquired it, remains in that position. Otis Chandler, founder and CEO of Goodreads, a reading social network Amazon agreed to acquire in March, has also stayed at the company, Amazon said.

Amazon rose 1.7 percent to $290.59 at the close in New York. The online retailer has gained 16 percent this year. The Quidsi departures were reported earlier by the Wall Street Journal.

To contact the reporter on this story: Danielle Kucera in San Francisco at dkucera6@bloomberg.net

To contact the editor responsible for this story: Pui-Wing Tam at ptam13@bloomberg.net


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Companies Mentioned

  • AMZN
    (Amazon.com Inc)
    • $320.41 USD
    • -3.60
    • -1.12%
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