Amazon buys Woot
Amazon bought the site Woot.com
Story in the NYT: http://www.nytimes.com/2010/07/01/technology/01woot.html?ref=technology
Amazon.com, 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.