Amazon.com's bid to become the ultimate Net shopping mall is gathering momentum with the announcement that it is taking a stake in the home furnishing site, living.com.
The deal will give Amazon entry into its eighth new product line in less than three months. The retailer's other online interests include consumer electronics, toys, pets and a pharmacy.
Amazon will buy an 18 per cent stake in living.com for an undisclosed sum, with the option to buy a further nine per cent. Living.com, which was launched seven months ago, will pay Amazon $145 million over the next five years for exposure on the retailer's site.
Amazon, which started life as an online bookstore, has yet to post a profit. The company claims that it has served some 16 million online shoppers.
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