In a note on the Woot forums, Rutledge said that he plans “to move on to future projects with fewer acronyms.” He continued
Through your hard work and inspiration (or at least suppression of your better judgment), we created one of the most refreshingly unique companies in the world; the most reluctant retailer possible—pitching as few items as we could with the least amount of hype for the least amount of time. We were idealistic and irreverent, and no retailer was more principled or transparent than us. Even in the worst of times, like when we found ourselves commercially viable, we fought the good fight and retained the honor and contrarian upside in our brand, our community, and even our dead-horse-beaten bags of crap.
The news was first reported by TechCrunch, which notes that Woot was acquired for about $110 million in cash.
Woot developed a fun-loving and goofy culture, exemplified by one of the greatest acquisition announcements we’ve ever seen, featuring a rapping puppet monkey. Here’s a fun flashback for those who missed it.
Previously on GeekWire: Amazon’s Woot takes it in the shorts over change in its shirts