So Woot got bought by Amazon.

What’s the business end of this deal? I’ve read the Blog Post, I’ve seen the video, and I’m still a little confused, or at least in the dark, about how something like this works.  Like, who gets what?  Presumably, Amazon paid something for Woot.  They weren’t a public company, so it didn’t happen by stock purchses, right?  No.  So they just put up a certain amount of money and, boom, they now get the profits?  Everyone gets the same salary and job description as before, just the ownership changed hands?

I guess, if I owned Woot and Amazon came along and gave me, in cash, the value of the profit I expected to make over the next three years (ten years?) and let me stay on as CEO with the same salary, etc., then I might do it, too.  Especially if I had another idea that I wanted to exploit.  Hmm.

Anyway, anyone who has a real clue about how this sort of thing goes down, I’d be interested in your take.