Shoppers in China will no longer be able to buy goods from other third-party merchants in the country.
Ring is set to be one of Amazon's most expensive takeovers, after its $13.7-billion deal last year for Whole Foods Market.
Giosis, which already counts eBay as an investor, operates seven localized online marketplaces in five countries including Japan and Singapore.
The move comes a month after AWS said it will sell the hardware assets of its Beijing-registered cloud unit for up to 2 billion yuan ($302.06 million)
Khosrowshahi’s success in acquisitions and partnerships at Expedia will potentially benefit Uber in Asia especially.
The companies expect to close the deal later this year.
He unseated fellow tech billionaire Bill Gates as the richest person in the world
Facilities for distributing fresh food are far more complicated than ordinary warehouses.
Corporate strategy experts are raising questions on Amazon's focus.
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