Walgreens Buys Drugstore.com, Amazon Buys Soap.com

walgreen's logo
walgreen's logo

Walgreen drugstore chain is buying Drugstore.com for $409 million. That's nearly 102% more than the company is valued at, but the move lets the traditional retailer gain a foothold on the Internet that it's been unable to do on its own.

"Drugstore.com significantly accelerates our multi-channel initiatives by expanding our product selection for our customers, adding new capabilities through their well-known beauty and skin care websites," said Walgreen's President of E-commerce Sona Chawla.