Wednesday, June 30, 2010

Amazon Buys Daily Deal Site Woot

Amazon.com is buying daily electronic deals site Woot, according to Woot, and making the firm an independent subsidiary. Financial terms of the buy were not disclosed. Woot, which is based in Carrollton, Texas, a suburb of Dallas, said that it will remain in Carrollton. Woot had been funded by Amazon.com, and according to a post by CEO Matt Rutledge, exercised an option to buy the firm which was part of that earlier funding. Woot offers daily deals on electronic gadgets to its users.