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Amazon Takes Full Ownership of Chinese Site Joyo

Amazon has increased its investment in Joyo.com, a popular Chinese e-commerce site, reports Reuters.

The online retailer now owns 100 percent of Joyo, which has struggled to make a profit since Amazon first invested in it three years ago. Amazon had been waiting for the right time to throw its complete support - and its branding - behind the company.

Joyo is not yet fully profitable but has increased the number of items it carries by 32 times. Joyo maintains three warehouses in China and uses bicycle delivery people to get products to customers.

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