July 1, (PRINTWORDS NEWS) On Wednesday Amazon.com Inc said to media sources that it has signed an agreement to acquire the online store Woot.com. However, the company did not disclose the sum that it has paid to the company. The Amazon said in its statement that the latest acquisition would keep in mind the long-term growth plans of Woot that sells discounted products. Woot also operates an online community.
The acquisition was also confirmed by Woot which mentioned the news in its own unique style in its website. The statement read “Woot to be acquired by Amazon, then left to amuse ourselves”. “Holy crap! Woot has signed an agreement with Amazon — yes, the Amazon — to become an independent subsidiary of the ecommerce colossus. More details forthcoming after we pick our eyeballs up off of the floor”.
Woot belongs to a batch of new e-commerce business establishments that have been flourishing in the Web world. The company is known for its selling of a single product per day. On Wednesday Woot CEO Matt Rutledge published a letter on its official website that addressed its employees where it mentioned that the company will continue to operate independently from its Texas Headquarters. In the letter the CEO wrote, “We plan to continue to run Woot the way we have always run Woot — with a wall of ideas and a dartboard”. He added that the present acquisition is like “adding one person to the organizational hierarchy, except that one person will just happen to be a billion-dollar company that could buy and sell each and every one of you like you were office furniture”. However, this is not the most high-profile buy of Amazon’s. Last year it bought Zappos.com that was counted as one of the company’s high profile acquisitions.
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