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.