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In 1989, TJX spun off their warehouse division, consisting of BJ's and now-defunct HomeClub (later known as HomeBase, then House2Home), to form Waban, Inc. In August 1997, Waban spun off BJ's to become an independent company, BJ's Wholesale Club, Inc., headquartered in Natick, Massachusetts, while Waban renamed itself to HomeBase, Inc. [ 10 ]
Amazon.com Inc. announced in 2019 that it would close down their business in China by the 18 July 2019 to focus on cross-border selling to Chinese consumers. [40] Amazon China faced tough competition as the rivals like Alibaba started to gain more popularity. [41] They struggled for many years to gain traction and eventually stopped growing. [40]
On July 22, 2009, Amazon announced that it would buy Zappos for $940 million in a stock and cash deal. [ 19 ] [ 20 ] [ 21 ] Owners of shares of Zappos were set to receive approximately 10 million Amazon.com shares, and employees would receive a separate $40 million in cash and restricted stock units. [ 21 ]
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