Posted by: commonsresource | July 9, 2010

Must Read – Woot’s “Deal Of The Day” with Amazon

I want to thank Matt Asay [Open source. Entrepreneur. Arsenal Fanatic] and his Twitter feed [@mjasy] for flagging the “brilliant” letter from Woot’s CEO Matt Rutledge to employees explaining the Amazon deal. For anyone not familiar with Woot, here is a short extract from the CrunchBase profile on the company: pioneered the “one deal per day” business model that is now used by several sites across the internet. The basic idea is that only one product is available for sale at any given time and each product is only available for 24 hours. At midnight (US Central time), the product is replaced by a different product. If a product sells out before then, a “Sold Out” message is displayed until the next day’s product goes up.

I agree with Matt that you really must read the letter which can be found in the  Woot’s Deal Of The Day: Woot! — Amazon Buys It. Price? $110 Million post on TechCrunch. The letter is both humorous and insightful and is a great way to wrap up the week.

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