America Online is investing $100 million in Amazon.com as part of a multi-year strategic alliance between the two companies.
The equity investment is part of a deal aimed at marrying Amazon.com's online retail expertise with AOL's platform and virtual shopping mall. Amazon will plug AOL as its exclusive Web provider and enable its users to download AOL from its Amazon.com site. It will also enable purchase of AOL Time Warner products and services.
AOL already had a promotional alliance with Amazon, plugging Amazon.com on its online services. - Richard Tedesco