Amazon acquires online music store Amie Street, targets iTunes

Amazon has acquired online music store Amie that it had funded in the past, as it gears up to counter Apple's iTunes dominance. Amazon will buy the retail operations of Amie Street, according to a statement by Amie Street. However, details of the deal have not been divulged. The team behind Amie Street will divert its focus on Songza, a social music streaming service it acquired in 2009, reports say. Amazon will cobrand Amie Street with Amazon Music Service and will give users $5 coupons to purchase songs on Amazon. Amazon had invested in the start-up in 2007.