Lovefilm has announced that it's being acquired by Amazon. (TheNextWeb) Lovefilm is the "Netflix of Europe", doing DVD-by-mail rentals in the UK, Germany, Sweden, Norway and Denmark, and recently moving to video streaming, first in the browser and then in devices like the Sony PlayStation 3.
Amazon already had a significant shareholding in Lovefilm; the company acquired Amazon's European DVD-by-mail rental operation. There's an obvious fit between Lovefilm's e-commerce and digital media sales operations and Amazon's, so this deal makes plenty of sense. TechCrunch pegs the valuation at a weirdly specific $312 million. It might revive speculation about Amazon acquiring Netflix.
Lovefilm was founded by top London VC Saul Klein and we named the company one of the 10 most valuable startups in Europe, with over $100 million in revenue.
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