Amazon.com pays $75m for Joyo.com

.com Inc is pay $75 million for Joyo.com, China’s largest online retailer of books, music and videos, to gain access to the world’s second-biggest Internet market.

Amazon.com, the world’s largest Internet retailer, will pay $72m in cash and assume employee stock options to buy the company. Joyo.com, headquartered in Beijing, operates two websites in co-operation with Chinese subsidiaries and affiliates, Seattle-based Amazon said.

The purchase will give Amazon.com its seventh international website after competitors Yahoo! Inc and EBay Inc bought sites and made investments in China, which has more than 80 million internet users. An estimated 27.7 million people in China make purchases through the internet, according to market researcher International Data Corp.