Amazon (NSDQ: AMZN) is buying Woot.com, a six-year-old online retailer that offers one steeply discounted product for sale each day. (Today’s offer is an iPod Nano for $99.99). The acquisition is a nod by Amazon to the heady growth of daily deal and private sale sites, which have attracted huge interest from customers and investors over the last year.
Woot is known for its jocular style; daily deals are accompanied by lengthy, humorous descriptions of the products that are being offered. That attitude comes across in Woot’s completely over the top announcement of its sale. Staff members put together a music video to celebrate the deal, which features stuffed monkeys and lyrics, such as “we’re like huge now / our name is ringing out in the streets / and it didn’t take a whole lot of work is what’s sweet / you can labor every day until you’re tired or old or wait for amazon to call and when they do you say sold! / we got acquired by amazon.”
More seriously, Woot says it will operate “autonomously” under the e-commerce giant like some of its other recent acquisitions, including online shoe retailer Zappos, which Amazon purchased last summer for $850 million, and digital audio firm Audible, which the company acquired two and a half years ago.
Financial terms were not disclosed; reports put Woot’s revenue at under $200 million.