Amazon acquired Joyo.com for US$75 million in August 2004, changed its name to “Joyo Amazon” in 2007, and changed its name again to “Amazon China” in 2011. It took Amazon 7 years to bring not only its name and IT system to China, but more importantly, to bring Amazon’s “customer-centric” business philosophy to China. After acquiring Joyo.com, Amazon successfully occupied a corner of China’s e-commerce sector. Subsequently, Amazon’s business in China continued to grow, and its share of China’s B2C market reached 15.4% in 2008. However, according to a report released by iResearch Consulting, this figure had fallen to less than 1% in 2015.
Due to the rapid development of China’s local e-commerce and overseas shopping, the Amazon platform in China has been operating poorly. It stopped providing seller services to third-party sellers on the Amazon China website on July 18, 2019, and has since withdrawn from the fierce competition in China’s local e-commerce market.