The online retail giant Amazon is to buy the quirky website Woot. The website started out as a deal a day website and has now expanded to become a $100million company. Amazon are now eager to get their hands on the company and Woot.com have welcomed the move.
Woot was founded in 2004 by Matt Rutledge who began selling one item a day on the site, including various electrical goods. The site quickly became very popular and has now amassed a very eager following of Woot fans. The move towards an Amazon takeover was announced on the Woot blog, it outlined the fact that although there would be an Amazon takeover, the company would still remain a separate entity and it would not operate alongside the Amazon main website.
Rutledge, put his employees at ease today by announcing that although Amazon is taking over, things will still remain the same. The essence of Woot would still be there and Amazon would just be like a new member of staff.
Lovers of the eccentric website are now eager to find out the exact settlement figure, but neither Amazon nor Woot are disclosing this figure. The move is definitely going ahead, however but as the founder Rutledge stated there will be no change to the company ethos.
A few financial pundits and lovers of both websites have said that although the move will benefit the company in terms of a huge cash injection, they are unsure of the effect it will have on the general following of the site. Woot was founded by one man with one vision and although Rutledge has reassured his staff that things won’t change there is a possibility that they will, either for the better or for the worse.
