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Amazon announces acquisition of LOVFiLM

Thursday, 20th January 2011 15:41 GMT By Stephany Nunneley

lovefilm

Amazon has announced it’s acquired Europe’s DVD-rental service LOVEFiLM for an undisclosed amount.

Speaking with VentureBeat, Balderton Capital’s Dharmash Mistry -a main investors in LOVEFiLM – has said the reason Amazon went ahead with a full purchase was due to LOVEFiLM’s streaming service. With 20 percent of the service’s movies available digitally and the growing popularity of Internet enabled TVs, Amazon jumped on the opportunity.

Amazon never mentioned the figure it posted on the check, but $200 million is the current rumor. Before the purchase, Amazon owned a 42 percent share in the company.

The firm plans to leave the LOVEFiLM site live, but if Amazon has any other plans for the service, it was not disclosed.

Other investors in LOVEFiLM include: Arts Alliance Media, Esprit Capital Partners and Index Ventures.

Breaking news

9 Comments

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  1. Prof.Dr.Moertel

    *psst* headline typo :P

    #1 4 years ago
  2. mingtons ghost

    That reminds me i need to watch Mesrine part 2 tonight

    #2 4 years ago
  3. Psychotext

    /posts spoilers for Mesrine

    #3 4 years ago
  4. FabioPal

    *coff*head*coff*line*coff* :P

    #4 4 years ago
  5. LePlatypus

    *cough*learn*cough*to*cough*spell*cough*

    #5 4 years ago
  6. tenthousandgothsonacid

    Maybe they’ll finally sort out their differences with Universal. Not being able to rent their films is a major pain in the arse.

    #6 4 years ago
  7. xino

    wtf are all your problem man!?

    i hate Grammar Police or Gramma Nazis.

    anyway Lovefilm was alright until they nick your money hideen, you’ll find out just why other people are leaving it.

    #7 4 years ago
  8. Psychotext

    “Lovefilm was alright until they nick your money hideen”

    What’s this?

    #8 4 years ago
  9. xino

    i switched to PAYG, had 2 remaining credits left until I found out I was charged £15 for topping up 6 credits!

    I’m not using those farks again!

    #9 4 years ago