Amazon.com continued its torrid tear of
investments Thursday with a minority stake in online auctioneer Greg Manning Auctions Inc.
The giant e-tailer (AMZN)
purchased $5 million of GMAI’s (GMAI)
stock. Additional terms were not disclosed.
Additionally, GMAI will offer its collection of goods on Amazon.com Auctions
and zShops under a Greg Manning banner. Amazon.com shoppers may dig among
GMAI’s wealth of stamps, coins, sports cards, sports memorabilia, comics,
Hollywood and movie memorabilia and music and rock & roll memorabilia.
“Over the past year, we’ve invested considerable time and resources
enhancing our own product offerings, solidifying our leading positions in
the collectibles markets, and honing our e-commerce skills,” said Greg Manning,
chairman and chief executive officer of GMAI.
“We are now positioned to offer Amazon.com’s more than 17 million customers
our renowned service and products while at the same time continuing to serve
the tens of thousands of loyal GMAI customers to whom we offer each week on
our sites over 5,000 auction and retail items.”
The minority investment marks the third stake in four days taken by Amazon.com, who Tuesday grabbed an 18 percent stake in domestic site
