Amazon buys Woot

Amazon bought the site

Story in the NYT:, which sells millions of products, said Wednesday that it had agreed to buy Woot, a site that sells one item at a time.

Woot is one of a cluster of unconventional shopping sites that have sprung up in the last few years in the biggest flurry of e-commerce innovation since Amazon and eBay began.

The tactics they use to lure shoppers would puzzle traditional retailers. Some, like Woot, sell just one item a day or, like Groupon, cancel the entire deal if not enough people buy in. Others, like Gilt, restrict access to anyone who is not a member, although membership is free to all.

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So Amazon bought Woot and now the Woot for the day is the Kindle 2 for $149.

Woot had 4968 Kindles to sell. They sold them all in 8 hours 20 minutes.

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