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Amazon invests in registry
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September 23, 1999: 8:50 a.m. ET
Web retailer joins Neiman Marcus, others investing $45M in Della & James
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NEW YORK (CNNfn) - Amazon.com, the best-known online retailer, Thursday joined some prominent traditional merchants and venture capital firms in investing $45 million in Della & James, an online gift registry.
Others participating in the investment are three "brick-and-mortar" retailers with strong catalog operations: Neiman Marcus Group, Crate & Barrel, Williams-Sonoma, as well as the venture capital firms Kleiner Perkins Caufield & Byers and Trinity Ventures.
Della & James currently consolidates wedding gift registry information online for Dillard's, Neiman Marcus and Wiliams-Sonoma. It offers traditional giftware, such as serving sets and personal items, and links to its member stores for other types of gifts.
The move is seen as further broadening Amazon.com's (AMZN) online products and services range. The retailer began as an online bookshop in 1995, and has since added music, video, electronics, toys and an auction component.
"Della & James offers a powerful, new use of the Internet that makes it fun and easy to find the right wedding gifts for family and friends," said Joe Galli, president and chief operating officer of Amazon.com.
Amazon's 10.7 million registered customers will have access to Della & James' wedding gift registry immediately. And part of the financing received from Amazon will be put towards launching Della & James' "all-occasion" registry service just in time for the holiday season. Customers will be able to create and access custom gift lists, for items ranging from sporting goods to baby gifts to high-end electronics.
Separately, Reuters reported Thursday that Amazon.com will sell disc-free music via the Web beginning next year. Amazon launched a free MP3 download section on the site earlier this month.
-- from staff and wire reports
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