Amazon Purchases a $850,000,000 Shoe

This really has nothing to do with Virtualization, but it is still an interesting story.  Today Zappos CEO, Tony Hsieh, announced to his employees that Amazon will become the majority shareholder by purchasing all of Zappos common stock for $850 Million USD. The letter sent by Tony can be read here.

In the letter Tony states that Amazon (and the Zappos Board of Directors) have no plans on dissolving the company and that they will continue to run as an independent organization. The rest of the e-mail just shows how down to earth and funny the CEO truly is.  One of the Q&A questions within the letter cracked me up;

Q: Will we get a discount at Amazon?

No, because we are planning on continuing to run Zappos as a separate company with our own culture and core values. And we’re not going to be giving the Zappos discount to Amazon employees either, unless they bake us cookies and deliver them in person

Anyways, the real reason I wanted to post this was to show a great example of how a very basic idea can grow into a multi-million dollar business.  Congratulations to Tony and the entire Zappos staff, this is an extremely impressive achievement.


Created on July 22, 2009 by Rick Scherer

Posted under Good Reading.

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