Woot is a website founded by Matt Rutledge in 2004; the website offers a deal a day to its users, the deals mostly consist of computer hardware and electronic gadgets.
I am sure that many of Woot’s loyal users are worried by this acquisition but in a recent interview Matt Rutledge (through tight-lips) did what he could to calm the fears of its fan-base. Matt was not giving anything away about the important details but helped us understand in what way this would be good for Woot, Wooters and Amazon.
Why was now a good time to sell?
Rutledge calls himself an entrepreneur and says they have been waiting to take this step as soon as they were ready. This is obviously something they have been thinking about for some time.
What does Amazon have to offer?
Rutledge feels that Amazon is a great brand and has not built much (if any) negativity towards itself. It’s a neutral brand pretty much liked by everybody. Matt has been watching how the acquisition of Zappos played out and he believes that Zappos has been able to maintain its unique and independent culture. The Woot CEO feels he can really trust Amazon to competently and professionally maintain the independent nature of Woot.
Amazon and Woot are hoping to create some productive synergy between them; although nobody is making clear how this will happen. One indicator is that the ‘DEAL OF THE DAY‘ was the Amazon kindle (a wireless reading device).
Jeff Bezos the CEO and founder of Amazon understands the humour and ethos at Woot; but is more interested in the more serious elements of the business such as how does Woot get its deals how has it built such a loyal customer base.
What do the Wooters think?
The loyal Wooters are not taking it too badly and are excited about what the future will hold for them. The Woot employees are also positive about the acquisition including the screaming monkey.
It is almost certain that this is going to produce financial rewards for Woot, let’s just hope that they can maintain their individual style.