Alibris in Deal to Buy Monsoon
Jim Milliot — Publishers Weekly, 2/23/2010 12:50:09 PM
The online marketplace for books and other items Alibris has acquired Portland, Ore.-based Monsoon Inc. for a combination of cash and stock. Monsoon will continue to operate independently in its Portland offices, though its CEO Kanth Gopalpur will report to Brian Elliott, president and CEO of Alibris. The acquisition, set to close in March, will give Alibris/Monsoon more than 15,000 sellers who sold over $400 million worth of products in 2009.
While the two will operate independently, Elliott said the companies will leverage their different technologies and provide new tools “to help sellers find more buyers.” Founded in 2002, Monsoon has about 20 million unique listings ranging from consumer goods to media products, although Elliott said the majority of its offerings are books. Alibris has over 100 million new and used books, movies and music for sale through its marketplace. Elliott said sales were up in 2009 for both new and used products. “Consumers are looking for a wide selection and good prices and that is what we offer,” Elliott said.