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Amazon will shut down subsidiary Quidsi, which it purchased in 2010 for half a billion dollars after a bitter price war. The company cites unprofitability as the reason, wholesale nfl jerseys but many see the decision as the final move in a consolidation of home products that prepares the giant to pivot to new markets, such as grocery delivery."We have worked extremely hard for the past seven years to get Quidsi to be profitable and unfortunately we have not been able to do so," an Amazon spokeswoman said in a statement. Some workers may apply for other Amazon jobs, and the software development team will shift to building technology for the grocery delivery service AmazonFresh, but the restructuring will come at the cost of 263 jobs at the New Jersey headquarters, according to the New Jersey Department of Labor notice.The market reacted favorably to the news, with Amazon's stock rising 2.1 percent.The commerce company bought Quidsi seven years ago after undercutting its profitability by slashing diaper prices and launching a competing Amazon Mom (now renamed Amazon Family) benefit program under the umbrella of its Prime subscription service.The purchase eliminated the competition and brought in new customers in one fell swoop customers Amazon is likely eager to convert to Prime subscribers, if they haven't already.Amazon Prime subscribers pay a yearly membership fee, but their real value comes from their high shopping frequency, wholesale nfl jerseys encouraged by free, two day shipping and media subscriptions.
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