Amazon.com recently announced that it will purchase Woot.com. Amazon hopes this leads to sustained growth for Woot, which has a strong online community and sells discounted products, in the long term.
“Woot to be acquired by Amazon, then left to amuse ourselves,” said a statement by Woot. “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.”
Amazon says that the agreement is expected to close in the third quarter.
Source: Reuters
