Amazon buys out Lovefilm.com

amazon-logoOnline business firm, Amazon has bought out Lovefilm. com for £200million. Lovefilm is into the business of movie rentals. Post this, Amazon will have majority stake in the company in which it already had a share of 42 per cent since 2008.

The remaining 58 per cent is also a part of it now and will be catering to 1.6 million customers during this time. For a company that showed a revenue of £97 million alone in 2009 and suffered a loss of nearly £1 million, the deal comes as a golden opportunity.

After bad financial, it decided to launch a movie rental business online and has shown a growth of 30-40 per cent during this time.

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