Today Tony Hsieh, CEO of Zappos sent a letter to employees saying that they had been acquired by Amazon. Well almost. He actually said”

Over the next few days, you will probably read headlines that say “Amazon acquires Zappos” or “Zappos sells to Amazon”. While those headlines are technically correct, they don’t really properly convey the spirit of the transaction. (I personally would prefer the headline “Zappos and Amazon sitting in a tree…”)

Essentially Amazon is going to become the sole shareholder of Zappos stock. It seems that this is a weird time for acquisitions, what with the economy and all, but who knows. Maybe they got a good deal. You can read the full letter from the CEO at the Wall Street Journal

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